SUMMIT REPORT
Global Commercial Cards and Payments Summit Report
CPI’s inaugural Global Commercial Cards and Payments Summit in London on February 26 – 27 was attended by over 150 senior-level commercial cards and payments professionals from around the globe. Although the audience was diverse, some definite themes emerged, including a clear message that the commercial payments industry is in a unique position as the global recession presents an opportunity to support its customers through tough times reports Amon Cohen. This was reflected in the theme of the summit – “Leading customers through the changing landscape of commercial cards and payments”.
Attendees discussed why commercial payments remains one of the strongest and most promising business lines within an otherwise ailing financial services sector. Among the major financial institutions in attendance were Bank of America, Citigroup, J.P. Morgan, HSBC, RBS, Deutsche Bank, BMO, ABN Amro, ING, MasterCard, American Express, Visa, AirPlus, Diners Club and UATP, to name but a few. It is believed to be the first time such a senior group of professionals has gathered for an event dedicated solely to the commercial payments industry.
Sessions covered themes as varied as purchasing cards, prepaid cards, legal and regulatory developments, technology, customer needs and the multinational market. Questions that were posed and answered over the two days of presentations, debates and networking sessions included:
- How well are payments organizations meeting the needs of corporate and government customers?
- How are the needs of these users changing with the economic downturn?
- What will the winning payments organizations be offering their customers when the tide finally turns?
