BMO and Extend, a virtual card and spend management platform, announced the addition of a simple and powerful set of payments functionality to BMO Corporate Cards. BMO Commercial Bank clients can now use Extend's mobile and desktop apps to create, send, and manage virtual cards for simplified payment and reconciliation processes.
Juniper Research reports charge volume on virtual cards is expected to more than triple in the next four years, with business payments accounting for most of the spending. The control, efficiency, and flexibility of virtual cards solves many of the spend management challenges businesses face. With Extend, Corporate Card clients can seamlessly empower their employees with virtual cards to pay vendors, track spending by creating different cards for different expense categories, automate reconciliation to simplify bookkeeping, and more -- all from the Corporate Card program they already use.