Virtual cards, also known as Single-Use Accounts (SUA), are among the latest in payments technologies. They are auto-generated credit card numbers that A/P departments can send to suppliers as a link contained in an email, for a one-time-use payment. Their growing popularity with customers is due to a variety of factors.
One question for financial decision makers within these supplier organizations is when to take early payment. The best time to leverage early invoice payment will vary depending on the organization and the situation.
Every relationship manager assumes that their clients would never go to another lender for a loan. The reality couldn’t be further from the truth, and the data proves it. Banks are starting to notice a trend in their existing client base. Their customers are receiving more and more outside financing from alternative lenders with each passing year.