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Understanding the Supplier’s Role in Driving Virtual Card Acceptance
- B2B players heavily rely on paper checks, which hinders the GDPR of B2B payments.
- Innovation success depends on the participation of all ecosystem participants.
- Virtual card adoption is clear for the buyers but is a complex decision for suppliers.
- Generating 16-digit credit or debit card numbers linked to specific invoices offers faster access to secure payments without processing and clearing delays.
- Integration of suppliers to the digital platform improves cash flow for both parties and creates efficient B2B ecosystems.
- Suppliers can reinvest in inventory, equipment, or growth initiatives without resorting finances because of faster funds access.
- Suppliers can instantly match payment to associated invoice and reduce administrative overheads by using virtual cards.
- Demonstration of the ROI of virtual cards is crucial for suppliers to adopt them.
- Collaboration is key for suppliers to understand the value proposition of virtual cards.
- By integrating virtual cards with AR automation tools, suppliers unlock even greater efficiencies, paving the way for a seamless, end-to-end payment experience.
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