The untapped potential of commercial credit cards
Corporate credit cards can be a win-win for companies and their employees. For employees, they’re a convenient and rewarding way to pay for expenses, and for companies, they provide better transparency and control over their spending. So why aren’t more companies using them?
While overall commercial card spending is growing, a lot of small and medium-sized businesses still haven’t adopted them. But Ellen Winterod, senior product manager at FIS, says that’s starting to change. As the COVID crisis shakes up ways of doing business, companies have new incentives to embrace commercial credit cards and their evolving digital capabilities.
Will commercial cards continue to catch on with the middle and lower ends of the market? Is catering commercial card offerings to this segment a risky play for financial institutions, or an untapped opportunity?
In this episode of “Financial Futures,” Ellen Winterod, senior product manager at FIS, joins us to discuss:
- Why COVID is forcing companies to rethink how they pay for expenses
- The advantages of using commercial cards vs. personal cards for business spending
- The digital trends driving commercial card adoption
- How financial institutions can reach untapped markets for commercial cards
- and design products that cater to the digital age