Why Virtual Cards and Wallets Are Reshaping Accounts Payable
When it comes to payments, consumer expectations are spilling over into the B2B world. A new PYMNTS Intelligence report, Virtual Mobility: How Mobile Virtual Cards Elevate B2B Payments, finds that mobile wallets and virtual cards are poised to transform accounts payable, helping businesses tackle late payments, reduce fraud, and gain real-time visibility into cash flow.
The Problem with Paper Checks
Despite digital innovation, outdated methods remain common. Seventy-three percent of firms still haven’t automated supplier payments. This reliance on manual systems introduces excess data entry, higher error rates, and long delays. On average, small businesses wait 28.7 days to get paid including more than nine days of avoidable delays. These inefficiencies drag on liquidity and strain operations.
Virtual Cards Gain Momentum
Virtual cards are emerging as a powerful solution. Fourteen percent of middle-market companies plan to adopt them within the next year, a 322% surge over current levels. Their appeal lies in security and efficiency:
- Single-use numbers reduce fraud exposure
- Automated reconciliation saves time and cuts costs
- Rebates and revenue streams create financial upside
Finance leaders in sectors like technology, media, and fleet management are driving this adoption, seeking greater control in a volatile operating environment.
Digital Wallets Go Corporate
The biggest shift, however, may be the move toward mobile wallets in B2B transactions. Eighty-two percent of merchants say they will expand wallet use in 2025, mirroring consumer behaviour. Wallets bring:
- Frictionless transactions that mirror consumer experiences
- Reduced administrative costs for accounts payable teams
- Real-time visibility into spending and cash flow
This isn’t just about speed, it’s about building resilience in a world where every day of liquidity matters.
The Adoption Challenge
The future of B2B payments depends on partnerships and integrations. Virtual cards require supplier acceptance, while wallets must connect seamlessly with ERP systems. Solutions like WEX and Conferma’s integration into SAP Concur show what’s possible: payments that can be authorized, issued, and reconciled in one digital loop.
As WEX President Eric Frankovic put it: “In today’s on-demand world, B2B companies must provide the fast, customized experiences that we’ve come to expect as consumers.”
For many, the combination of virtual cards and mobile wallets may be the clearest path forward.
Payment Solutions with Kubera Payments
At Kubera Payments, we help businesses across North America move millions of dollars daily, whether in-store, online, or on mobile. Our team of payment experts is here to guide you through the complexities of payment processing, ensuring your transactions are secure, reliable, and PCI-compliant. We have strong relationships with a wide network of acquirers and can help you find the right front-end and technology solutions to work together.
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Contact our team at sales@kuberapayments.com or 604-484-9278
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