Payment Tools Focus on Supplier Acceptance
New payment innovations can facilitate greater supplier acceptance
Slowly but steadily, payment giants like Visa, Mastercard and Discover are shifting their innovation focus to business-to-business (B2B) transactions where developers are designing payment tools not only for the payer but for the supplier as well.
Until now, corporate buyers liked to use commercial cards to make payments due to their ability to lengthen payment times and offer incentives and rewards. But vendors struggled with accepting the interchange fees and absorbing the costs that come with accepting these cards.
Solutions with Suppliers Top of Mind
Today, emerging accounts payable (AP) solutions are beginning to be designed with the vendor in mind. And these new innovations can facilitate greater supplier acceptance.
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