The Federal Reserve Board will hold a hearing July 9 in San Francisco on the proposed $60 billion merger of NationsBank Corp. and BankAmerica Corp.
The hearing will address how the merger would affect the financial health of the banks and the convenience and needs of the community. Those wishing to testify must contact the Federal Reserve Bank of San Francisco by June 29.
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The increasing adoption of virtual card payments by accounts payable departments has created an unexpected complication for suppliers: more friction in the processing, posting and reconciliation of payments and receivables. The root of the problem is that most suppliers rely on a manual approach to processing e-mailed virtual card payments. Suppliers are forced to balance their organization’s need for operational efficiency and control with rising customer demand to pay with a virtual card. But a new breed of technology enables suppliers to process virtual card payments straight-through, addressing the needs of buyers and suppliers. This paper details the growth of electronic business-to-business (B2B) payments, shows how manual approaches to processing virtual card payments cause friction in accounts receivables, describes a way to process virtual card payments straight-through, and highlights the benefits of frictionless payments.