Charge volumes on virtual cards are expected to grow from $1.9 trillion to $6.8 trillion by 2026 with 71% of that volume getting attributed to B2B spend. TSYS and Extend have partnered to enable banks to offer their business customers a new virtual card and spend management solution along with their existing commercial credit card offerings - with zero technical implementation required.
For banks, this means they can now offer their business customers a new virtual card and spend management solution along with their existing commercial credit card offerings—with zero technical implementation required. A product that would have taken years to bring to market via in-house development, can now be launched in weeks! “The payment technology space is becoming increasingly fragmented, but now more than ever banks need a coordinated payments architecture where innovation can thrive,” said Brian Greehan, Head of B2B Solutions at TSYS. Extend’s core offerings include a sleek virtual card and spend management web and mobile app, as well as virtual card APIs for custom integrations. But the best part for businesses is that they can access these services with their existing corporate credit cards.