IMGCAP(1)]
North America and Asia lead the world in the use of commercial payment cards for business-to-business transactions, while Europe and Latin America lag behind some other regions, according to survey results Visa Inc. released today. The survey of 800 financial, treasury and cash-management executives in 11 countries found that half routinely use commercial credit cards to make payments, and 45% plan to boost their commercial card use in the next 18 months. Fifty-two percent of respondents intend to reduce their reliance on checks over that same period. In the United States, 58% of respondents use commercial payment cards, followed by Canada (54%); Asia Pacific (46%); the combined nations in the regions of Central and Eastern Europe, the Middle East and Africa (38%); Europe (38%); and Latin America and the Caribbean (30%). Growth prospects for commercial payment cards are strongest in the Central Europe, Middle East and Africa region, where 60% of respondents intend to increase their use; followed by the U.S. (48%); Europe; Latin America and the Caribbean (42%); Canada (41%); and Asia Pacific (38%). Seventy percent of respondents said using commercial payment cards saves time, while 62% said it eliminates paper invoices, 57% said it streamlines payments and receivables, and 46% said it provides better data for negotiating lower prices with vendors. Survey.com conducted the online survey in July and August.
