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The Commercial Card Embraces A Season Of (Major) Change

PYMNTS

For businesses, the world market was thrown into volatility, yet soon, new opportunities emerged. For the corporate card, 2020 has been a season for dramatic shifts in how the payment tool is used and the value it adds to the enterprise. The year 2020 began inconspicuously — but in a few short weeks, everything changed. Winter Blues.

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Commercial Cards Find Opportunity In Transparency, Lower Fees

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There is more than one way to drive commercial card innovation. For vendors, commercial card acceptance can be a matter of wielding technology to lower interchange costs. For vendors, commercial card acceptance can be a matter of wielding technology to lower interchange costs. A Focus On Transparency.

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The Competitive Advantage Of Commercial Card Acceptance

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Commercial cards account for only a portion of corporates’ overall spend, as checks stick around and ACH gains ground. However, their market share is on the rise as card issuers develop more robust rewards programs, and the ability to integrate card spend into back-office spend management and analytics platforms.

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UK Retailers Press For Commercial Card Interchange Fee Caps

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Supreme Court ruling in favor of the card networks during a case in 2017, and with Australia in the midst of pondering either swipe fee limits or an outright ban. However, missing from much of this regulatory debate is the issue of interchange fees on commercial cards. ” The Commercial Card Debate.

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Top Issuers Embrace FinTech Collaboration For Biz Card Innovation

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Much of what commercial card innovators seek to address is a massive pain point for adoption: supplier acceptance. Such was the strategy of JPMorgan in its latest corporate card initiative. Check out the latest in corporate card innovation below. Amex Collaborates On Virtual Card Adoption. customers mid-2020.

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FinTechs Embrace Collaboration For Corporate Card Solutions

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This week's Commercial Card Innovation Tracker finds FinTechs and payment technology players like Mastercard, Visa and Nets embracing partnerships to roll out new corporate card solutions, including virtual commercial cards and small business credit cards designed to enhance spend management and help SMBs access credit during turbulent times.

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Corporate Cards Tackle Industry-Specific Pain Points

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Commercial cards continue to explore more use cases to optimize spend for businesses, from accounts payable (AP) to employee travel and expense management. Increasingly, the corporate card industry is also looking at ways to take advantage of the unique challenges in particular industries.