Asia Pacific's mid-sized companies are grappling with a profound mismatch between their urgent working capital demands and the outdated financial tools at their disposal, according to Visa's recently released 2025-2026 Growth Corporates Working Capital Index. The index, whose Asia Pacific findings Visa released today from Singapore—based on surveys of over 1,300 CFOs and treasurers across 23 countries and territories, including 298 from the region—highlights how inflation, rising interest rates, and liquidity squeezes are forcing growth corporates, defined as firms with $50 million to $1 billion in annual revenue, to rethink cash flow as a core growth engine.
Nearly half—47%—of these Asia Pacific growth corporates report not using any working capital solutions, largely because existing options fail to match their operational realities. Longer cash cycles, persistent payment delays, and the need for swift cross-border liquidity are commonplace, yet traditional products remain rigid and generic, too rigid or generic for Asia Pacific's diverse industries and fast-moving markets.
WORKING CAPITAL TURNS STRATEGIC
High-performing CFOs, however, are flipping the script, transforming working capital from a defensive necessity into a proactive growth lever. By leveraging early supplier payments, virtual cards, and flexible funding, these leaders are accelerating receivables and boosting liquidity to seize market opportunities. The index quantifies the payoff: firms adopting such solutions reap an average $17.7 million in annual bottom-line benefits, equivalent to a 4.3% revenue uplift. Late customer payments alone drain an average $15.7 million yearly, but digital card payments cut those losses by around 10%.
Usage for opportunistic expansion is surging too—9% of firms tapped working capital solutions to fund unplanned growth, up from 5.6% in the prior year. The report finds that leading Asia Pacific finance teams are treating working capital as a strategic lever, and that firms using card payments to speed up collections have cut late-payment losses by around 10%. As a result, Visa says, cards are evolving from transactional tools into working capital levers.
AI LEADS OPTIMIZATION WAVE
In Asia Pacific, 61% of growth corporates are deploying AI and machine learning for working capital tasks like forecasting, risk scoring, and automated approvals. This embedded analytics push reflects a broader hunger for digital platforms that simplify credit management and deliver capital on-demand. CFOs expect fast, on-demand access to liquidity through digital rails, including virtual cards, automated approvals and digital platforms.
The index reveals shifting expectations for banks: finance leaders demand industry-specific expertise from relationship managers who understand sector-specific business cycles, supplier relationships and capital expenditure needs, rather than one-size-fits-all approaches.
CFOs PRESSURE BANKS TO EVOLVE
"CFOs across Asia Pacific want flexible, sector-specific tools that match their operational realities," said Chavi Jafa, Head of Commercial and Money Movement Solutions, Asia Pacific, Visa. "Our data shows that agile, digital-first strategies and smarter forecasting are helping companies stay resilient and reinvest freed-up capital into growth." Jafa emphasized Visa's ecosystem partnerships to deliver solutions like ERP-integrated virtual cards and digital enablers that accelerate approvals and strategic liquidity.
Visa said banks and financial institutions will need to move beyond generic products by integrating AI-driven insights, streamlining approval processes and pairing digital capabilities with deeper industry expertise.
REGIONAL IMPLICATIONS BROADEN
Visa identified three key themes for Asia Pacific: misalignment between financial products and operational needs, working capital as a strategic growth lever, and shifting demands on banks.
More information on the index is available at workingcapitalindex.visa.com.