Tearsheet

OCTOBER 2, 2024

Morgan have recently announced a partnership aimed at facilitating the transition from checks to digital payments for major banks in the United States. This collaboration has resulted in the launch of Codat’s new Supplier Enablement API product, designed to increase virtual card usage, with J.P. Codat and J.P.

B2B 59

B2B Checks Payment APIs and Integration Push-to-Card 59

PYMNTS

NOVEMBER 3, 2016

. “It’s not only the cost savings of having to print and mail checks and reconciliation pains that go into that existing process,” he said. “It’s a combination of a lot of things,” he explained of the many reasons why firms struggle to let go of paper checks. ” U.S. .

Payments Data 73

Payments Data Payments Commercial Card Reconciliation 73

PYMNTS

DECEMBER 2, 2020

Witness the rise of commercial card products and rebates over the past several decades, where Aquilina said “the focus really generated heat around the buyer and the cardholder that was absolutely not matched by banks on the supplier or merchant side.”. Suppliers have been pretty much forced to accept cards.

B2B 79

B2B Innovation Commercial Card Push-to-Card 79

PYMNTS

FEBRUARY 5, 2020

Commercial card technology can ease multiple pain points in B2B payments. But as today’s industry players reveal, the commercial card opportunity is often biggest in areas outside of the payment. Pleo Makes a Commercial Card Shift. We know the importance of cardholders’ preference for rapid self-service.

Commercial Card 53

Commercial Card Reconciliation Payments ACH 53

PYMNTS

AUGUST 11, 2020

Moving the needle in the journey away from paper checks isn’t a one-sided battle, either. Phalen said this has encouraged companies to ramp up their efforts to ditch the paper check. But organizations can’t do it alone. “You can’t just take an accounts payable view of things,” said Phalen.

B2B 110

B2B Payments Wire Wires 110

PYMNTS

NOVEMBER 20, 2018

With payment bigwigs like Visa , Mastercard and American Express pushing further into the B2B payments space, commercial card adoption is being driven by more than growth in the number of card products available. “It streamlines payments and ease of paying by card,” Weiss told PYMNTS in an interview.

Commercial Card 47

Commercial Card Risk Push-to-Card Reconciliation 47

PYMNTS

NOVEMBER 15, 2019

Though credit cards were not originally designed to address the needs of corporate payers, advances in commercial card technology have positioned the payment tool as one that’s gaining traction in the accounts payable department. “But in the cross-border space, it’s a different ball game.”

B2B 65

B2B Commercial Card Cross-Border Cross-Border Payments 65

PYMNTS

NOVEMBER 17, 2020

is partnering with Global Healthcare Exchange (GHX) to help healthcare organizations pay suppliers with commercial cards, Boost announced today (Nov. Commercial cards have become an effective cash management solution, especially during the pandemic’s disruptive effects on how organizations choose to pay and hold cash.

Payment Solutions 52

Payment Solutions Commercial Card Payments Wire 52

PYMNTS

SEPTEMBER 22, 2020

In the absence of corporate travel and entertainment, as the road warriors stay (and work) at home, it may make sense that commercial card use would see a pause in the B2B space. Buyers are being forced to rethink their procurement spend … and perhaps are finally ready to abandon the paper check.

B2B 53

B2B Commercial Card Push-to-Card Payments 53

PYMNTS

DECEMBER 5, 2019

Initially, this came in the form of purchase cards that gave managers the ability to allow their employees to make purchases on behalf of their companies, from office supplies to travel and expense spending. Leavitt says suppliers are indeed more difficult than buyers to convince of commercial cards’ value proposition.

Faster Payments 53

Faster Payments Commercial Card ACH Payments 53

PYMNTS

DECEMBER 11, 2020

As for the paper checks themselves, even in the 21st century: They can account for as much as 40 percent of all medical claim payment transactions and 88 percent of all dental claim payments. That equates to as many as 500 million paper checks issued annually. The problem is they just can’t get rid of that check.”.

Payer 67

Payer Checks Push-to-Card Commercial Card 67

PYMNTS

NOVEMBER 15, 2019

When the commercial card 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 Commercial Card Advantages.

B2B 53

B2B Commercial Card Payments ACH 53

PYMNTS

AUGUST 30, 2017

American Express is continuing its ongoing efforts to encourage businesses to pay suppliers with commercial cards in its latest accounts payable partnership. The credit card firm announced Tuesday (Aug. According to the companies, the solution can also support batch payments with automated reconciliation and data entry.

Accounts 43

Accounts Commercial Card B2B Wire 43

PYMNTS

JUNE 1, 2016

MasterCard is eyeing Asia to expand its commercial card services, and in its most recent effort to do so has partnered with CIMB Bank in Malaysia. He added that the partnership is aligned with Malaysia ‘s central bank, Bank Negara Malaysia, which has called for a reduction in the dependence on paper checks in the country.

Visa 40

Visa Commercial Card Central Bank Checks 40

PYMNTS

DECEMBER 30, 2020

Yes, many organizations shifted the needle away from the paper check toward ePayment tools like commercial cards and ACH as a result of necessity. Accounts payable (AP) departments were no longer in the office to cut paper checks, and accounts receivable (AR) personnel were no longer in the office to receive them.

B2B 119

B2B Payer Payments BNPL 119

Fintech Finance

NOVEMBER 14, 2024

The Bank expanded its suite of digital cash management solutions with the following new products and services in 2024: Digital Checks: Clients can now send check payments faster and more securely via email while reducing or eliminating costs associated with paper checks. to offer clients mobile virtual cards.

Online and Mobile Banking 52

Online and Mobile Banking Product Cash Management Treasury 52

Fintech Finance

APRIL 18, 2024

Mastercard announced a new mobile virtual card app that enables virtual commercial cards to be seamlessly added to digital wallets. Flexible integrations: Financial institutions can quickly get to market through Mastercard’s user interface or flexible API-based integrations, and offer unique features such as customized card art.

Visa 52

Visa Contactless Payments Payment APIs and Integration Commercial Card 52

PYMNTS

JUNE 26, 2019

According to Thakur, “this will reduce suppliers’ labor-intensive reconciliation of virtual card payments, increase their operating efficiencies and help them get paid faster.” According to the firms, Citi Commercial Cards makes Citi the first virtual card provider to integrate into Coupa Pay.

PayPal 43

PayPal B2B Cross-Border Payments Cross-Border 43

PYMNTS

JUNE 26, 2019

According to Thakur, “this will reduce suppliers’ labor-intensive reconciliation of virtual card payments, increase their operating efficiencies and help them get paid faster.” According to the firms, Citi Commercial Cards makes Citi the first virtual card provider to integrate into Coupa Pay.

PayPal 43

PayPal B2B Cross-Border Payments Cross-Border 43

PYMNTS

JULY 16, 2020

Force-fitting a B2C-based eCommerce platform for a B2B sales context can mean a lack of payments features corporates need, like the ability to facilitate check transactions and establish custom payment terms. Payments workflows are a particularly large hurdle in this space.

B2B 59

B2B B2C Checks Payments Strategy 59

Stax

MARCH 14, 2024

While wire transfers and checks are quite common, the corporate credit card market is projected to have a compound annual growth rate (CAGR) of 7.3% by 2026 , so we’ll likely see more credit card use in the business sector. But what about in the business-to-business (B2B) sector?

B2B 88

B2B Process B2C Credit Cards 88

PYMNTS

DECEMBER 20, 2018

While the assumption is that suppliers, especially smaller ones, may lack the resources necessary to adopt ePayments solutions (or are simply too stuck in their old ways to make a change), paper checks remained the most common B2B payment method. Myth #3: Suppliers Shun Cards Because of Interchange Fees.

B2B 65

B2B Push-to-Card Payments Checks 65

PYMNTS

JANUARY 19, 2017

A recent study by Receivable Savvy found that 63 percent of suppliers prefer to be paid electronically, though not necessarily via commercial card. Indeed, Nvoicepay’s Friede is a fan of commercial cards and of the virtual card in particular. 18) to highlight the strengthened connection between the two firms.

B2B 46

B2B Commercial Card Payments ACH 46

PYMNTS

SEPTEMBER 23, 2019

Checks undeniably still play a role in corporate payments: PYMNTS and Mastercard found in their joint The B2B Payments Tipping Point report that checks remain the most common payment method both for making and receiving B2B payments, and surprisingly, satisfaction with checks is relatively high among surveyed corporates.

B2B 49

B2B ISO 20022 Payment APIs and Integration ISOs 49

PYMNTS

OCTOBER 10, 2017

“Although the rate of adoption is good, corporates are not leveraging all the benefits of the digital transformation to provide new propositions to their clients, to help them move away from checks and increase overall efficiency in reconciliation and fraud,” the report concluded. Regional Trends.

B2B 49

B2B Cross-Border Non-Bank Payment APIs and Integration 49

PYMNTS

DECEMBER 30, 2019

This year, B2B payments technology made strides toward speed, transparency and efficiency as service providers took advantage of a massive market opportunity: corporates’ payment demands are growing more sophisticated, yet they continue to rely on checks and legacy tools. Bank, MYOB and others.

Innovation 42

Innovation Cross-Border Commercial Card B2B 42

PYMNTS

AUGUST 13, 2020

And in the United Kingdom, Clear Books has integrated with Stripe to let small to medium-sized businesses (SMBs) accept card payments, while B4B Payments is finding a valuable niche for the corporate prepaid card. Below, PYMNTS rounds up the latest in commercial card innovation: CarrierHQ Adds Access To Comdata Card.

Use Case 56

Use Case B2B Online and Mobile Banking Credit Cards 56

PYMNTS

OCTOBER 22, 2018

As for the conduits to that financing, he said, noting PayPal Credit and other partners, instant credit check and review — with tailored offers — “might bring people, who otherwise might not take a big trip, to be able to do it.”. Beyond payments, there is friction for corporates around reconciliation, Kaiser said.

Payments 55

Payments Credit Cards Point-of-Sale (POS) Commercial Card 55

PYMNTS

SEPTEMBER 17, 2019

The AFP’s report found new lows in corporates’ use of checks for B2B payments, with more than one-third saying they aim to remain current with new payments technologies. This is the business case for commercial card products, which enable companies to pay their invoices with cards and repay their card bills over time.

B2B 43

B2B RTP Bankers' Bank Accounts 43

PYMNTS

NOVEMBER 21, 2017

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. Many of these hurdles, researchers noted, can be attributed to the fact that SMBs use an array of payment methods, often complicating payment tracking and reconciliation.

Visa 43

Visa B2B Credit Cards Small Business 43

Evolve Payment

NOVEMBER 21, 2022

You can check out the ICS process on their website if you’re interested in improving the efficiency of more than just your merchant account. They streamline everything from manually keying in a credit card transaction to handling payroll and reconciliation. Integrations are important because they make things faster and easier.

Process 52

Process Processors Credit Cards PCI DSS 52

PYMNTS

JANUARY 20, 2017

By their very nature, virtual cards are controlled, he explained, because they are single-use accounts and have the ability for payments thresholds to be set, as well as very defined criteria as to who the payments can be made to. This type of control also helps from both a reconciliation and fraud prevention standpoint.

Visa 44

Visa Innovation Payments Push-to-Card 44

PYMNTS

JULY 21, 2020

With accounts payable (AP) solutions increasingly paying attention to supplier needs, commercial card technologies have expanded their focus on both the AP and accounts receivable (AR) side of B2B transactions. OnPay Talks V-Card Adoption. Boost Enables STP For Corporate Cards. SAP ERP Integrates With ezyCollect.

Commercial Card 70

Commercial Card B2B Payer Process 70

PYMNTS

JULY 2, 2020

With the pandemic nudging businesses further into the digital payments realm, commercial card innovation is heating up to capitalize on the opportunity for adoption. Boost Bolsters BMO Harris Bank’s Biz Cards. Capital on Tap wields the commercial card to connect small and medium-sized businesses (SMBs) to financing.

Payroll 83

Payroll Commercial Card Legal Facilitators 83

PYMNTS

OCTOBER 20, 2020

Panelists included Jay Dearborn, president at WEX Corporate Payments; Greg Bloh, CEO at Transcard; Muhammad Chbib, CEO at Tradeling; Simon Barker, CEO at Conferma Pay; and Brad Garfield, head of product for commercial cards and comprehensive payables in global transaction services at Bank of America.

B2B 104

B2B Online and Mobile Banking Payments Treasury 104

PYMNTS

DECEMBER 4, 2017

The paper check game is an old one, entrenched in the interactions between firms. Leavitt, founder and CEO of Boost, told PYMNTS the firm is out to set (and be) the standard for B2B payments, encouraging the migration away from outdated methods like paper checks , wires and traditional ACH transfers. How, then, to un-entrench?

B2B 40

B2B ACH Credit Cards Payments 40