What your suppliers should know about commercial cards (SPEECH) [MUSIC PLAYING] (DESCRIPTION) A graphic of a commercial credit card (SPEECH) You know some of the benefits that a commercial card program brings, like lower costs, more control, and streamlined payment processing. But do your suppliers know why they should accept commercial card payments? (DESCRIPTION) Cards move from a skyscraper to a house. A question mark appears above the house. (SPEECH) For one, cost. (DESCRIPTION) Coins fall out of a check (SPEECH) Paying by check is more costly than other payment forms. (DESCRIPTION) A card with coins below it. Checkmarks appear on an invoice. An X on an invoice (SPEECH) Card payments reduce costs for managing checks and invoice production, streamline reconciliation, and eliminate manual processes and payment errors. By accepting card payments, a typical supplier experiences a net financial benefit of $12 per $500 transaction. (DESCRIPTION) Kaiser Associates, Acceptance Matters, and Now We Know by How Much, 2012 (SPEECH) To incentivize suppliers to accept card payments and reduce your overall payment costs, adjust your terms to prefer card payments. (DESCRIPTION) A bar graph with commercial card, ACH, and check. (SPEECH) Then getting payment within days instead of weeks, suppliers' order to cash cycle is faster, reducing their days sales outstanding while improving cash flow and capital management. There are also risk management benefits. Even as the EMV card migration improved security, check fraud continues to rise. (DESCRIPTION) A line graph going upwards (SPEECH) Not only are payments more secure than checks, they also clear in real time. (DESCRIPTION) A lock turns into a clock (SPEECH) Suppliers know immediately if a charge is approved, lowering the risk of nonpayment and reducing the time accounts receivable spends on reconciliation. (DESCRIPTION) Line graphs of non-payment risk and time spent on reconciliation drop (SPEECH) Plus, accepting cards gives you access to market share that's not available to suppliers who don't. (DESCRIPTION) The house connects to buildings that are card only (SPEECH) Your trusted financial partner can help your supplier see that the benefits of card acceptance far exceed the perceived costs. (DESCRIPTION) Text, U-S Bank, Visa. u-s-b payment.com Copyright 2018. All trademarks are the property of their respective owners.