Virtual Cards: Driving Business Efficiency and ROI

Virtual Cards: Driving Business Efficiency and ROI

Virtual cards hold immense promise for businesses, yet widespread adoption by suppliers often remains a significant obstacle. Many companies continue to operate in a neutral zone regarding virtual card acceptance, not because buyers lack interest, but because supplier integration and acceptance still lag behind. This hesitation often stems from perceived challenges, primarily concerns about costs and the complexities of abandoning established legacy payment processes. Addressing Supplier Reluctance Supplier skepticism is a perennial hurdle in the widespread adoption of virtual cards. Many businesses feel adequately served by traditional methods such as ACH and bank transfers, viewing these as sufficient for their operational needs. However, as articulated by Abhishek, global head of B2B Acceptance at Visa Commercial Solutions, in a conversation with PYMNTS CEO Karen Webster, this perspective often overlooks the substantial operational improvements that virtual cards can introduce. Suppl…