The growing acceptance of virtual cards, sometimes referred to as v-cards, by small to mid-sized businesses (SMBs) is increasing exponentially as suppliers embrace the improved security and convenience of this digital payment method over paper checks.
Taking electronic payments, and even in some cases making e-payments, has been an issue for the small and medium-sized business (SMB) market for some time now.
HighRadius has announced a partnership with Noventis to bring straight-through processing (STP) for virtual card payments to Noventis’ supplier network.
Three companies on Thursday released technology aimed at streamlining virtual cards, digital versions of familiar plastic credit cards that banks can issue to consumers and businesses.
Experienced payments leader brings proven track record of driving growth to further ignite company’s sales expansion.
Noventis and Comdata, a FLEETCOR company, have announced a multi-year agreement that will allow both companies to deliver value to corporate finance departments.
Commercial cards make up just a fraction of the supplier payments space, but the rise in virtual card technology – and the efficiency and security that come along with it – could help card issuers grab a larger slice of the B2B payments market.
Success in converting checks to electronic payments spurs best performance in company’s history
Fintech innovator, Noventis, Inc., (Noventis) has seen small to midsize business (SMB) adoption rates of virtual card (also known as v-card) payments increase significantly over the past 12 months.
In the past year, many large businesses have reaped the cost savings, efficiency and security benefits of faster-payment initiatives led by the Federal Reserve, NACHA and fintechs.