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.