A survey conductd during an AirPlus webinar 69% of participants said bank transfer is their primary payment solution. Our webinar attendees are not the only ones using traditional payment solutions for their B2B processes. Kaiser Associates found that bank transfer continud to dominate competition in B2B payments in 2020, accounting for 88% of business spend in the B2C world across Europe. With only 1.4% of the expenditure, virtual cards therefore hold enormous optimization potential for the digitizing procurement landscape.
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AirPlus Blog Most companies know that with the digitization of procurement, payment solutions should also move with it. And a well-managd whatsapp mobile number list payments program neds virtual crdit cards to solve the potential complications of a faster-moving, more data-intensive digital procurement ecosystem. The heart of such a program: virtual cards. Traditional payment methods fall short in many ways as the B2B world goes digital: Control: lack of overall transparency of expenditure.
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Compliance inefficient approval, coordination and payment processes Complexity: no central management for different Canada Email Lead suppliers Cost: waste of time and money While card payments have been usd extensively in the T&E and business travel markets in Europe for years, in the B2B sector payments are still prdominantly made by bank transfer. But Europe has the potential to improve – and fast. The continent has a sophisticatd payments mix and the technical infrastructure to implement digital reform.