For financial institutions striving to compete with national banks, offering commercial credit cards is no longer optional—it’s necessary. Commercial credit cards are an essential financial tool for businesses seeking efficient ways to manage expenses, streamline vendor payments and optimize cash flow.
A 2023 report by Accenture shows that the commercial payments market is growing rapidly, with revenue expected to reach $1.26 trillion by 2028. Financial institutions should tap into the potential of offering a competitive commercial credit card program that provides robust tools to customers, and they should find an issuing partner that can make the process seamless. CorServ delivers best-in-class commercial credit card programs that empower community banks and financial institutions to enhance customer relationships, generate revenue, and gain a competitive advantage in the market.
Commercial Credit Card Products
Corporate Cards
Corporate credit cards come in various options, including low APR and rewards-based options. These are widely used by medium-to-large-sized businesses, non-profits and municipalities to manage employee expenses efficiently. Corporate cards help businesses streamline financial operations by offering businesses enhanced oversight, control and reporting on employee spending.
Purchasing Cards
Purchasing cards (P-cards) are the fastest-growing product in commercial credit cards, offering advanced expense management capabilities, supporting both employee purchases and vendor payments. These cards offer flexibility with virtual and ghost cards, enabling secure and efficient ePayables for invoice payments. Additionally, purchasing cards include a customizable rebate feature, allowing banks to define rebate amounts and schedules
Fleet Cards
Fleet cards are designed for organizations managing a fleet of vehicles in logistics, transportation or service industries. These cards can be assigned to individual drivers or vehicles and include specialized features such as mileage entry at the pump, transaction tracking for gallons purchased, price per gallon, fuel grade, pump number and merchant location. This level of detail in data helps companies optimize fuel spending, prevent fraud and enhance fleet management efficiency.
Advanced Program Capabilities
Centralized Administration and Reporting
CorServ’s commercial credit card programs come with a comprehensive business administration portal that provides real-time visibility into transactions, advanced reporting and seamless financial controls. This centralized hub allows businesses to manage accounts, schedule payments, and monitor spending with ease, ensuring transparency and efficiency.
Highly Configurable Spending Controls
CorServ’s platform includes advanced spending controls, allowing businesses to set spending limits, restrict transactions by merchant category and enable real-time alerts for suspicious activity. These features help organizations enforce compliance policies and reduce the risk of unauthorized spending.
Seamless Integration with Accounting Systems
CorServ’s commercial credit card programs integrate with leading accounting and financial management tools, such as QuickBooks. This integration simplifies reconciliation, enhances financial reporting and reduces administrative burdens associated with manual data entry.
Enhanced Cash Flow Management
By leveraging CorServ’s commercial credit card solutions, businesses can better manage cash flow while optimizing working capital. Purchasing cards provide businesses with flexible billing that improve liquidity and financial stability.
With the commercial payments industry poised for significant growth, financial institutions have a unique opportunity to enhance their credit card offerings. CorServ’s tailored commercial credit card programs enable community banks and financial institutions to provide innovative, high-value solutions that address the evolving needs of clients.
Contact CorServ today to learn more on how to elevate your small business credit card offering and provide your customers with the tools they need to succeed.
