Welcome & introductions

Pandemic fallout in the middle markets

Markets have changed in the pandemic and are unlikely to ‘normalise’ until mid-2021, when we hope vaccines and treatments enable business to be conducted safely again. But the mid market landscape will be altered. Firms that have weathered the Covid-19 crisis intact are few, attrition in headcount and revenues is palpable and return to growth will be uneven across industry verticals. Will banks step up credit to mitigate against NPLs? Will bankruptcies increase? Will firms find working capital when needed? And how can digitisation help in post-pandemic markets? In this opening session, we look at how the US mid-market has changed in 2020 and the outlook for the future of the B2B payments ecosystem in this sector.

Mapping growth in the evolving mid-market card landscape

As the pandemic hopefully recedes, which sectors and verticals in the mid-market are expanding and which are contracting in 2021? How will commercial card providers develop solutions for growth market segments now that growth is uncertain? How do you make a ‘stand out’ proposition that meets the growth needs of a specific vertical? In this session we hear how issuers are preparing to navigate the challenges of mid market sectors post-pandemic, the new challenges of go-to-market in uncertain markets, and how specific verticals will play out in 2021.

Integrating SMEs customers in B2B card programs

Onboarding SMEs in the mid-market sector is the first step to enabling suppliers to transact with each other in corporate AP programmes and supply chains using B2B payment solutions. Persuading CFOs and CPOs to move beyond ACH and aligning with the card value proposition in terms of cost and benefits, is the next challenge. In this session we hear how payment solution providers engage SMEs in enablement programmes and the challenges for SMEs in moving away from check and executing B2B card solutions.

Virtual Networking Break

Attendees are invited to schedule meetings with peers, visit sponsor booths, checkout the library for industry resources and much more.

Mid-market challenges in B2B payment solutions adoption

Whilst the pandemic might have highlighted the inefficiencies of paper based invoicing and reconciliation, the fact is that thousands of companies are still using paper checks to pay suppliers, in over 50% of B2B transactions. The challenge for card providers is to migrate companies to electronic payments. So what factors are required to accelerate mid market adoption of B2B and what obstacles do companies face in embracing B2B card solutions? How can companies be motivated to move beyond legacy procurement systems and processes into the new world of digital B2B payment technologies, including virtual cards? In session we explore corporate challenges to onboarding new payment solutions and the internal resources, including ERP challenges, required to implement change in AP.

Engaging community banks in mid-market sectors

Small businesses contribute an estimated $5.8 trillion to the US economy annually, much of which is spending in local communities, and community banks are ideally placed to extend commercial cards to SME customers. In offering a greater choice of payment products, community banks have potential to broaden commercial partnerships with issuers and deepen client relationships with business customers. After the current public health crisis and economic pain points felt by many small businesses, the extension of both payment and credit products to SMEs can provide essential working capital. In this session community banks, SMEs and issuers discuss the challenges and opportunities in local markets.

Dicing with data: extracting value for providers and customers

Payments generate a lot of data; supplier data, pricing data, purchase data, inventory data, transactional data, all of which is captured, stored, analyzed and shared in the B2B ecosystem, to determine specific purchasing trends and forecast future payment behavior. Data is also commoditized and highly valued by parties that aim to provide market intelligence and deliver value added products and services to companies. Yet data is also regulated and protected by external laws and internal governance procedures and protocols, to safeguard client confidentiality and protect consumers. So how can providers make sense and best use of B2B payment data analytics, that helps create intelligent value-add products and at the same time protects customers? In this session we hear from providers who dice with data daily. 

Welcome to day two

The rise and rise of virtual cards

Pre-pandemic forecasts for virtual card market growth are pushing 12% in the middle market segment, where virtual spend is set to outstrip plastic spend by 2024. The drive to contactless and non-physical payments has also been accelerated in the coronavirus crisis. Overall, the mid-market is growing faster than the large corporate sector in B2B commercial card growth. The rise of virtual card spend in the mid-market and the expansion of corporate adoption, gives rise to the proliferation of products, platforms and channels to reach ever deeper into industries and verticals in the segment. As the fintech ecosystem for virtual cards evolves, this session explores customer trends in virtual card use, and how issuers and solution providers can collaborate for win-win.

Integrated payables - the 360 solution?

The corporate adoption of an integrated payables programme that provides solutions for AP processes and supplier payments, as well as purchasing, is a holistic 360 solution that is a nirvana for B2B card providers. Implementation of integrated payment solutions in companies is a project that requires strategic resource planning, data gathering, risk assessments, technology investments, and careful evaluation of the cost benefits. In this session we hear how clients benchmark solutions in the AP process, and the internal challenges implementation and the benefits that accrue to the business.

Virtual networking break

Attendees are invited to schedule meetings with peers, visit sponsor booths, checkout the library for industry resources and much more.

Building the custom digital experience: How US commercial card teams are approaching user experience

The Covid-19 lockdown up-ended established practices in a dramatic way. Card usage dropped, but maintenance tasks spiked as administrators rushed to online ‘self-help’ tools to reduce credit limits. Online portals took pressure off banks’ physical branch networks and call center staff. Digital suddenly became a risk mitigation tool in the age of social distancing. Banks also spotted an opportunity to remind clients of other, often-overlooked benefits of a well-structured digitally enabled commercial card program. For business continuity, virtual cards were suddenly a viable replacement for physical cards or checks, and preserved precious cash flows. In this session, we reflect the views of leaders of commercial card teams at regional banks across the US on how they expect to improve the user experience in future. We also highlight the digital strategies of card leaders, how their implementation plans work in practice, and how they mesh with the broader digital visions of their banks.

Supplier enablement - incentivising card program take-up

Supplier enablement is frequently mentioned as a critical issue in B2B commercial cards. From a buyer and supplier perspective, cards can optimise DSO and DPO cycles that have lengthened in the pandemic. Without good traction in supplier adoption, card programs are not optimal. So what are the key challenges in supplier enablement and why is supplier enablement so hard to do? In this session we debate the pros and cons for suppliers in joining buyer programs, in the context of the competitive payments market, identifying the barriers to take up, incentives and solutions through real world citations in different use case scenarios.

Mobile payments, smartphones and digital wallets: the end of cards?

The pandemic has accelerated remote working and payment professionals are increasingly less likely to work from 9-5 at AR/AP office desks. Today mobile and remote working from any location at any time is becoming the norm; cloud computing and smartphone connectivity has enabled and empowered employees. As the shift to mobility accelerates, the adoption of mobile payments is fast developing to keep pace with the changes. Smartphone technology is transformational, with predictions that digital wallets will eventually replace physical cards. In this session we hear how providers are adapting to the world of payment mobility and how the mobile solutions segment will evolve in the B2B sector in 2021 and beyond.

End of Thursday sessions