The Basics of Virtual Card Payments Technology [INFOGRAPHIC]

Posted on Mar 15, 2018 11:39:10 AM by Chad Clay

If you're like most professionals who are responsible for making payments for a corporate or nonprofit organization, you're continually seeking to maximize efficiency and minimize the cost of doing business. Virtual card technology does both, offering the opportunity to turn a manually intensive operating expense into an automated process that actually generates revenue for your organization.

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Topics: Payment Cards, Commercial Cards, Electronic Invoicing, Virtual Payments

Game-Changers: 4 Innovations Transforming Commercial Payment Programs

Posted on Mar 2, 2018 2:18:02 PM by Tom Parrish

A new generation of game-changing innovations is rapidly transforming commercial payment programs. Acknowledging that AP professionals need access to their accounts from a variety of places, not just their office computers, these three features make monitoring online commercial payment activity easier and more efficient, while making commercial cards - especially virtual card - a more attractive product than ever for banks to offer their treasury clients.

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Topics: B2B Innovation, Commercial Cards

Too Small For Commercial Card Products? No Such Thing.

Posted on Mar 9, 2017 7:23:00 AM by Scott Songer

Think your bank is too small to offer commerial card products, including virtual card? Think again.

It's no secret that commercial cards are big cash management drivers for large national banks. More than 70% of businesses now use commercial cards for B2B payments, and that number is expected to grow by double digits in coming years. With that growth in use comes a growth in spending – and increased revenue opportunities for banks that offer commercial card products, including virtual card, to their customers.

But a bank doesn't have to be a huge national concern to take advantage of the growth opportunity afforded by commercial cards. New technologies, evolving commercial card products, and multiple points of entry to the commercial card market now help to make it easier and more financially rewarding for regional banks to become commercial card issuers.

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Topics: Agent Banking, Commercial Cards, Regional Banking, Virtual Payments

How Virtual Cards Follow You and Your Money, Anywhere You Need Them

Posted on Aug 18, 2016 10:00:00 AM by Kontrol Team

This time of year, even if you don't work in education, don't have school-age kids, and aren't going back to school yourself, you can start to feel a back-to-school-inspired craving for something new. Maybe it's not new pens or notebooks, or a new teacher, but for us the end of August inevitably signals a time to make a few changes before the arrival of Autumn and the hurtle toward the end of the year.

If this itch for something new has you shopping for a different bank for your organization, you may be daunted by the prospect of moving all your money where it needs to be to pay your bills and tend your investments. Did you know your virtual card program can help ease this transition significantly?

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Topics: Payment Cards, Commercial Cards, Virtual Payments

Think Your Bank is Too Small to Offer a Commercial Card Product? Think Again.

Posted on Mar 3, 2014 7:00:00 AM by Scott Songer

It's no secret that commercial cards are big cash management drivers for large national banks. More than 70% of businesses now use commercial cards for B2B payments, and that number is expected to grow by double digits in coming years.* With that growth in use comes a growth in spending – and increased revenue opportunities for banks that offer commercial card products to their customers.

But a bank doesn't have to be a huge national concern to take advantage of the growth opportunity afforded by commercial cards. New technologies, evolving commercial card products, and multiple points of entry to the commercial card market now help to make it easier and more financially rewarding for regional banks to become commercial card issuers.

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Topics: Agent Banking, Commercial Cards, Regional Banking

Electronic Payments 101: The Basics of Virtual Payments Technology

Posted on Feb 20, 2014 3:30:00 PM by Sean Songer

If you're like most who are responsible for making payments for a corporate or nonprofit organization, you're continually seeking to maximize efficiency and minimize the cost of doing business. Virtual Payments Technology does both, offering the opportunity to turn a manually intensive operating expense into an automated process that actually generates revenue for your organization.

more

Topics: Payment Cards, Commercial Cards, Electronic Invoicing, Virtual Payments

Regional Banks: The Payment Product Value Proposition

Posted on Jan 17, 2014 4:49:00 PM by Sean Songer

One of the greatest advantages of the virtual payments movement is how AP solutions can empower small-to-midsized regional banks to offer a greater range of services to their clients – fueling their own revenue streams in turn.

How does this work? Well, in the context of the card business, these regional banks (or “Agent Banks”) typically license the credit card programs and technology of other “Primary Banks.” This enables the regional bank to offer the technology and products of the Primary Bank to its customers without a lengthy implementation process, and without large up-front fees.

 

Often, an Agent Bank is a smaller, regional bank with strong, local treasury relationships and a need for a commercial card solution. If you represent a bank like this, you're probably already fielding questions from your larger clients around card-based AP solutions; or you might have seen competition encroach on your treasury relationships because you lack a viable AP product.
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Topics: Agent Banking, Commercial Cards, Regional Banking