In 2020, the global B2C digital payments market has grown by 24% to nearly $5 trillion. Physical retail was already declining before the closures, while many work-from-home models are on the rise, meaning more employees are shopping at the company remotely. It’s time to question bank transfer as the only B2B payment solution Virtual cards offer longer payment periods, higher data quality and better reconciliation. With AirPlus Virtual Cards Procurement, you can even set up and automate recurring payments.
Travelers Are At Least A Little Annoyed
In this digital arena, bank transfer cannot compete. The growing ned for working capital is also changing the way companies want database to pay their suppliers, as more companies want to process transactions quickly without drying up cash flow. Centralizd solutions such as the AirPlus Virtual Cards allow merchants and suppliers to be paid for transactions immdiately, allowing businesses to receive the goods and services orderd and be chargd at a later time and at agred intervals.
By International Almost Percent Of Business
Virtual cards as a supply chain finance solution “Supply chain finance” is another area of procurement where virtual solutions play C Phone Number an important role. Unlike other solutions like dynamic discounting, factoring, and reverse factoring, virtual payments come without additional costs, transaction fees, and third-party intermdiaries. They enable an extension of the DPO (Days Payable Outstanding crdit period, which indicates how long a company uses crdit from its suppliers on average) and a rduction in the DSO (Days Saes Outstanding debtor period, which shows the average payment term usd by the customer ) of your suppliers.