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Commercialcard innovation continues to make big waves in the accounts payable (AP) department, as corporates and card issuers alike explore new ways to drive business spend on cards beyond business trips or ad-hoc purchases. American Express commercialcards have been a staple for many corporates over the years.
Banks and FinTechs continue to discover new opportunities in unlocking corporate clients’ financial data, with banks embracing data integration for their own product development initiatives, and FinTechs finding new ways to collaborate with each other. Mastercard Taps FinTech for Biz Card Boost. Bankin’ Steps Into PaymentsAPIs.
The biggest news from the commercialcard world this week came from American Express, which is facing allegations that it mistreated small business customers to hike card approval numbers. CSI Links Clients to Virtual Cards. TripActions Dives into Corporate Cards.
Enfuce revealed it has partnered with French worktech unicorn Swile , UK-based public and social housing paymentservice provider allpay , and Icelandic Síminn Pay , the fintech arm of Síminn – the largest telecom service provider in Iceland.
Now, a potential new phase in the evolution of open banking is taking shape, one that focuses less on providing interconnectivity for SMB-facing FinTech, and instead turns to opportunities for the banks themselves to benefit from data integrations. based FinTech enabling SMBs to integrate their back office platforms with each other via API.
In B2B payments, that means changes in how businesses access, protect and ultimately make their money. Analysts also found that nearly half of fleet managers (48 percent) agreed they need to step up their anti-fraud game, with top worries including fuel siphoning, card cloning and the purchase of unauthorized items with commercialcards.
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