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Synovus Rises After Partnering With Visa

Shares of Synovus Financial Corp. (SNV) are up more than 3% Tuesday morning after the bank holding company announced its partnership with Visa to offer a mobile virtual commercial credit card solution.

The new solution enables businesses to instantly generate and send virtual Visa credit cards to employees, vendors, and contractors through a mobile app, Synovus said.

After enabling the mobile virtual Visa credit cards in a digital wallet, they can be used for online purchases or contactless payments with a mobile phone wherever Visa is accepted, without the need for a physical card.

Synovus stock touched a new high of $50.85 this morning.

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