PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

Demand for Commercial Card Tools and Services is on the Rise, a Capital One Survey Finds

By PaymentsJournal
May 30, 2017
in Press Releases
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
CO-OP financial services

Businessman pressing hand News Release word on virtual screen. Can bring to the medium of your ad.

More than 90 percent ofindustry professionals plan to adopt new commercial card tools and services in2017

NewYork, (May 30, 2017) – Ninety-one percent of corporate finance professionals plan toimplement new commercial card tools or services in 2017, according to a surveyconducted by Capital One’s Commercial Card Group at the 2017 NAPCP CommercialCard & Payment Conference in Houston, Texas. This adoption rate is 36percent higher than a similar survey found last year, and demonstrates growingdemand among industry professionals for products that simplify and streamlinetheir everyday corporate finance needs.

Sixty-threepercent of respondents said their top consideration when selecting a commercialcard provider is one that services and supports their companies’ unique needswith an all-in-one intuitive interface that allows management of all paymentsin one space. The second most important consideration cited, at 15 percent, isa program that supports vendor enrollment and card acceptance.

“Weare seeing a big jump in demand for commercial card tools among corporatefinance professionals in just one year, which demonstrates the demand for morecustomized and specialized offerings that support our clients’ varied businessneeds,” said Rick Elliott, Head of the Commercial Card Group at Capital OneBank. “We are working in close partnership with our clients to betterunderstand the daily challenges they face and provide creative solutions forthese problems,” Elliott added.

Cardproviders are clearly listening to their clients; 82% of respondents say theircommercial card provider asks questions to better understand pain points and developcreative solutions to solve problems and make their job easier.

Adoptionof cutting-edge digital tools is on the rise. Eighty-eight percent of thosesurveyed have access to a commercial card mobile app that allows them to manageand submit travel expenses remotely, a 54 percent increase from 2016. Surveyrespondents also reported increased adoption of a single card for bothprocurement and travel and expenses. Half of those surveyed reported using suchas card today, compared to 39 percent who said the same last year.

“Asoverall adoption of commercial card technology continues to grow, we arecommitted to embracing the latest digital capabilities that streamline ourclient offerings and provide an efficient and intuitive customer experience,”said Elliott. “With increased ease of use and implementation, these digitaltools are attractive and user-friendly options for our ever-increasinglysophisticated client base.”

Respondentsfrom companies without a commercial card app were evenly split on the cause;50% claimed the primary barrier to the commercial card app is figuring outtheir organization’s “bring your own device” policies, compared to 50%reporting their organization does not want to transition to a mobile app fromthe system currently in place.

Noteto Editors

CapitalOne Bank’s survey was conducted at the NAPCP Commercial Card & PaymentConference in Houston, Texas on April 10-13, 2017. The survey was developed togauge industry sentiment from 104 professionals across the payments industry oncommercial card use and adoption, use of applications, industry pain points,and plans in the next 12 months.

AboutCapital One

Capital One Financial Corporation (www.capitalone.com) isa financial holding company whose subsidiaries, which include Capital One,N.A., and Capital One Bank (USA), N.A., had $241.2 billion in deposits and$348.5 billion in total assets as of March 31, 2017. Headquartered in McLean,Virginia, Capital One offers a broad spectrum of financial products andservices consumers, small businesses and commercial clients through a varietyof channels. Capital One, N.A. has branches located primarily in New York,Louisiana, Texas, Maryland, Virginia, New Jersey and the District of Columbia.A Fortune 500 company, Capital One trades on the New York Stock Exchange underthe symbol “COF” and is included in the S&P 100 index.

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    supply chain payments

    The Payment Process: The Supply Chain’s Most Overlooked Cyber Risk

    July 17, 2025
    Navigating Global Fintech Regulations Through Strategic Regulatory Arbitrage

    Navigating Global Fintech Regulations Through Strategic Regulatory Arbitrage

    July 16, 2025
    AI Is Turning Accounts Receivable Into a Strategic Powerhouse

    AI Is Turning Accounts Receivable Into a Strategic Powerhouse

    July 15, 2025
    Embedded Finance

    Embedded Finance: Bringing Payments Under a Single Umbrella

    July 14, 2025
    Making Real-Time Payments a Reality

    Fulfilling the Promise: Making Real-Time Payments a Reality

    July 10, 2025
    mortgage

    The Rich Benefits of In-House Payment Systems

    July 9, 2025
    digital cards

    Beyond Plastic: Why Digital Cards Are the Future

    July 8, 2025
    What Premium Card Overhauls by Chase and Amex Reveal About the Credit Card Market

    What Premium Card Overhauls by Chase and Amex Reveal About the Credit Card Market

    July 7, 2025

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result