This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
But as businesses hold onto their cash in preparation for more disruption ahead, an increasing number of firms are also taking a closer look at a different AP strategy that can support working capital needs without creating cash flow issues for valued suppliers. Optimizing Card Spend.
Less common, however, is an SME financing solution that integrates into a commercialcard offering. In 2009, the National Small Business Association found that 59 percent of SMEs used commercialcards to meet their working capital needs. The trend puts commercialcards and lenders in competition with each other.
Commercialcards have struggled to gain widespread adoption in B2B payments, and new research from Mercator Advisory Group aims to explain why — and how to overcome those adoption barriers. But corporate buyers often prefer cards to obtain rewards points.
Spend controls were the focus of innovation in the commercialcard space this week thanks to feature and program launches. This week’s commercialcard innovation tracker includes a rollout of the next generation of authorization controls from Comdata Inc., Mastercard Adds B2B Payment Functionality With CommercialCards.
Yet, according to Kris Carrera, general manager and business line executive of Credit Payments at FIS , the middle market is often underserved — particularly when it comes to commercialcard products. In the credit card arena, rewards are king, Carrera said. Lacking the Right Product. Meeting Middle-Market Needs.
From sourcing to invoicing, B2B transactions involve a lot of steps before the actual payment. Using FIS-run PayNetExchange to process ACH, checks and virtual cards and using Comdata to issue Mastercard commercialcards, Corcentric pulls in payment capabilities across a range of rails to support the last mile of the B2B transaction.
When the commercialcard first came on the scene, executives thought of the payment tool in limited terms: a piece of plastic their employees could use to make one-off purchases at the office supply or hardware store, buy a coffee while on a business trip or take a client out to dinner. ” Recognizing CommercialCard Advantages.
Commercialcards remain a small, but growing, part of the B2B payments ecosystem, thanks in part to their versatility. The payments technology firm is targeting high-spending small and medium-sized businesses (SMBs), with Visa B2B offered for everyday business spend, and Infinite Preferred focused on corporate travel spend.
Indian airliner Jet Airways is teaming up to bring SMEs in the nation a commercialcard solution, a move reports said will bring India its first contactless business card. Reports on Thursday (May 12) said ICICI Bank will collaborate with Jet Airways to launch the Jet Airways ICICI Bank Business Advantage Card.
HSBC has added six foreign currencies supported by its commercialcard products in Europe in support of corporates operating across borders in the region. We now offer a full range of commercialcard products to clients across 26 countries in Europe and 43 countries globally, with the same core capabilities in each market.
According to Bank of America ’s new vision of the future, those trips — and other B2B payment activities such as buying supplies — would go much more efficiently if plastic was replaced by mobile wallets. Bank of America’s corporate cards are now compatible with such mobile wallets as Apple Pay , Google Pay and Samsung Pay.
Accounts payable company MineralTree just gave a big show of support for commercialcards when it announced this week it is partnering with American Express (Amex) to offer companies an integrated platform to support supplier payments via virtual commercialcard. But the hurdle of card adoption persists.
based B2B FinTechs led the way in this week’s investment roundup, with more than $212 million in new funding falling in the hands of startups targeting a range of enterprise operations. Accounts payable, cloud migration, Big Data and even legal management for startups raising new funding were all targeted among investors.
Electronic payments and FinTech can help businesses across the board improve time and cashmanagement, but each industry is different in the types of solutions they need and the progress with which they adopt more sophisticated tools.
When Sourcery launched, CEO Na’ama Moran said there was a bit of a chicken-and-egg issue: She wanted the company to become a holistic B2B payments player, but should it begin with accounts receivable or accounts payable? “It makes it a lot harder to managecash flow,” she explained.
Muted corporate spend tempered American Express’ performance in its commercialcard segment, and regulatory uncertainty is on the radar for Fifth Third Bancorp. Here’s all the financial data you need to know from some of the largest B2B finance and tech businesses. American Express Global Commercial Services.
Operating as a funding agent will broaden community banking participation in RTP, Bankers’ Bank said, adding that it will also build a 24/7 liquidity management solution for RTP transactions within its cashmanagement suite of services.
is partnering with Global Healthcare Exchange (GHX) to help healthcare organizations pay suppliers with commercialcards, Boost announced today (Nov. Commercialcards have become an effective cashmanagement solution, especially during the pandemic’s disruptive effects on how organizations choose to pay and hold cash.
But a company’s interest and efforts to adopt new technologies does not always mean that all B2B payment processes are improved. Instead, new research suggests that the enterprise is embracing some tools and tech (but not all), and applying them to some aspects of B2B payments (but not all).
Those drivers may support the rise in consumer mobile payments, but economic factors in the Asia-Pacific region have also opened doors for B2B mobile payments to gain traction, too. MC Payment , a startup based in Singapore, is a FinTech startup in the region that is riding the B2B mobile payments wave.
The B2B payments industry continues its push to break businesses’ habit of using paper checks, but players are divided on what payment rail should take their place. In Karmic Labs’ latest white paper , “Prepaid Expense Cards: Helping Small Businesses Solve Cash Flow Dilemmas,” researchers surveyed U.S.-based
In B2B payments, it’s not just the movement of money that’s a pain point for companies — it’s the tracking of that payment and the ability to reconcile those transactions that can be a major headache for both payers and payees. In an announcement on Tuesday (Oct. In an announcement on Tuesday (Oct.
Strategic Treasurer and Bottomline Technologies recently published a joint report on the B2B payments landscape: B2B payments + WCM Strategies. Combine that with the finding that B2B payments are becoming increasingly complex, with two-thirds of respondents saying they originate payments with at least three banks. Globalization.
Making sure the books add up properly is key to keeping their legal nonprofit status, and that means cashmanagement is paramount. According to Vendor Centric, there are four key benefits for nonprofits when it comes to the v-card. The first is cash rebates. Virtual cards, the report noted, can do the same.
Mastercard and EU FinTech Strands are collaborating on a cashmanagement and corporate payments platform for banks, designed to address small business (SMB) needs. Strands released a research report last year that found small businesses in the U.K. widely consider their banks to be utilities, not business partners.
In January, the FI announced support of all of its card solutions — including commercialcards — for Apple Pay. Bank into the MasterCard Business Network, an online portal of resources for cashmanagement and other business management solutions.
In this week’s Data Digest, we take a trip around the world to uncover the evolving habits of business payments and cashmanagement. 9 percent of suppliers want to get paid via commercialcard , says new research from Receivable Savvy. But that doesn’t mean suppliers aren’t interested in electronic payments.
“We are pleased to join forces with a global provider that is equally committed to delivering a best-in-class solution for their customers,” Gonca Latif-Schmitt, global head of Citi CommercialCards, said in a press release. “We
According to Fundera, 23 percent of surveyed small business owners admitted to mixing personal and business expenses on their commercialcards, with meals and small-value purchases the most common personal transactions landing on business credit cards.
professionals will also gradually heat up, with some corporations already holding small conventions, attracting business professionals and, with them, the need to spend corporate cash. . The biggest area Seleski said he anticipates commercialcard usage is in the hotel industry. brand, Four Points by Sheraton, since 1959.
Cichy also pointed to additional bank solutions, like lockbox operation, payment processing and commercialcard offerings, into which Palette’s P2P solution is linked, promoting cohesion in banks’ corporate offerings. Historically, opportunities to wield this kind of data have been limited for traditional FIs.
“We’re excited to expand the services available to our commercial clients through our partnership with First Bankcard,” said Bernadette N. Macko, senior vice president, director of corporate cashmanagement.
Digital tools also offer real-time visibility into corporate cash flows, which can be especially helpful as businesses strategize to address a rapidly changing economic situation, Brad Garfield , head of product for commercialcards and comprehensive payables in global transaction services for Bank of America , recently explained to PYMNTS.
This time around, Mastercard is linking with Strands , a FinTech based in the EU, which focuses on a collaboration that brings to bear joint efforts on cashmanagement and corporate payments — and is geared toward SMBs. The duo will integrate Strand’s business financial management offering and Mastercard’s digital payments technology.
Building a company like Trimwire in the current climate of coronavirus uncertainty is also a significant opportunity for the firm as organizations of all sizes and industries become hyper-vigilant about spend and cashmanagement.
Small business owners have historically faced a unique challenge in the banking world: Financial institutions (FIs) can sometimes fail to clearly define their small business services, blurring the lines between personal and corporate banking and forcing an SMB to fit somewhere within that ambiguity.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content