by Daniel Granderson
February 11, 2020
The commercial payment card industry is at a tipping point: While cards continue to provide the backbone, technology is reshaping and broadening their ability to meet customer pain points. Wrapped around them are increasingly sophisticated array of software solutions and technology platforms that help bridge a gamut of challenges and providing increasingly seamless payment processes that involve not just cards.
It’s a multi-rail world, even for Visa and Mastercard, as industry participants rush to partner, acquire, and strategize to tap the broader global B2B payments opportunity.
These services not only help drive payment value but also gives the companies competitive advantages on the global stage. China UnionPay has eclipsed western payment networks by total payment value, and its commercial card payment value is rising quickly. However, it lags its western counterparts significantly when it comes to added-value technology services.
This blog is based on Commercial Cards and B2B Payment Services: U.S. and Global Markets and Trends, 11th Edition (published December 2019) by Packaged Facts. The blog was written by the author of the report, Packaged Facts industry analyst David Morris.
Provide the following details to subscribe.