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While commercialcard innovation certainly accelerated in 2018, progress can always continue. Morgan Managing Director and Head of CommercialCard Product Management Naney Pandit says should be a focus this year is in mobilizing the corporate card. One area of development that J.P. Following The Consumer Trend.
With every payment made, Splitit lowers the amount of the hold on their business credit card by the installment paymentamount. Unlike repaying commercialcard balances in installments, the platform does not charge interest and can accelerate the reordering process.
Indeed, as B2B organizations begin to pay closer attention to the rising threat of fraud in the procure-to-pay process, the issue of false positives can result in similarly negative consequences, from declined cardpayments to broken vendor relationships. The False Positive Threat.
For corporates, Zeta offers a suite of employee payments, accounts payable and accounts receivable tools; for banks, the company provides commercialcard issuance and hosting solutions. Digital payments and virtual cards have a much bigger role to play in the corporate world versus the consumer payments world,” he said.
B2B businesses tend to have longer payment terms with their clients and relationships usually focus on long-term, recurring business. The amount per transaction is often quite significant and as a result, there’s typically quite a bit of negotiation that goes into determining paymentamounts, terms, and cycles.
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