"Close to You": The words once warbled by the late singer Karen Carpenter are the theme of a new advertising campaign from Bank of America aimed at the Hispanic market in California, Texas, Arizona and New Mexico. Only the words will be in Spanish--i.e., "Cerca De Ti." California rival First Interstate Bancorp is also rolling out a Spanish-language campaign centered on "Cumpliendo con Usted," or "keeping our promise to you."
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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.