Most small to medium-sized (SME) business owners are highly dependent on their accountant for everything financial. Accounting, and by extension financial insights, is often a “black box” to them. Most business owners would prefer to be more in control of their own finances so they can make better business decisions. What they really need to…
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Driven by new technology and the consumerization of enterprise as people demand a more comfortable experience, growth in business use of virtual cards has been strong in recent years. Yet they still account for a relatively small share of the commercial cards market. Apple is doing a great job of introducing the concept of virtual…
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In a move to support its business-to-business payments platform, Visa has agreed to acquire the software provider Fraedom. Fraedom, which offers payments and transaction management software-as-a-service solutions for financial institutions and their corporate customers, has been a Visa partner for nearly 10 years. Fraedom technology currently powers the Visa IntelliLink Spend Management platform that has…
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The banks behind the Zelle network had more in mind than P-to-P payments between consumers, and BNY Mellon is beginning the network’s evolution by targeting business payments market. Zelle will help support tokenized digital payments for institutional and corporate clients in a market that is notoriously resistant to automation. BNY Mellon hopes corporates will see…
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American Express will become the exclusive issuer of Hilton Honors cobranded credit cards in January, taking over the entire portfolio it previously shared with Citigroup. With an estimated 18 million Hilton Honors cardholders in the fold, American Express is also introducing Hilton’s first small-business traveler card and a premium card that stresses luxury benefits and…
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Blockchain is a bigger opportunity for business transactions than consumer transactions, according to Mastercard president and CEO Ajay Banga, who is poring over the technology to build use cases for corporate users. “It’s early days so don’t expect it to be a switch that gets turned on tomorrow,” Banga said during Tuesday’s third-quarter earnings call.…
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