Payment Solutions News | Quick Tips

7 Proven Strategies for Maximizing Supplier Acceptance


One of the key forms of support that PNC provides to our clients for optimizing their commercial card programs is information and advice.

Many clients claim that one of the key barriers to greater usage of electronic payments is suppliers’ reluctance or refusal to accept such payments. Over the years, PNC has built significant experience and expertise in commercial card acceptance in the B2B payments space.

The following is a summary of some of the key strategies to drive increased commercial card acceptance on the part of suppliers.

1.

Leverage Inbound Contacts

Leverage supplier calls into to your Accounts Payable (AP) department as an opportunity to introduce commercial card as a payment option that creates benefits for both parties.

2.

Capitalize on Routine Communications

Incorporate commercial card payment information into standard communications (e.g., emails, check payments) with suppliers.

3.

Be Proactive

Contact suppliers regularly to engage them directly on commercial card acceptance.

4.

Define Payment Options

Create set payment options for suppliers with more favorable terms for card payments.

5.

Get It in Writing

Take advantage of negotiation periods with new suppliers who are eager to win your business to get their commitment—in writing—to accept commercial card for future payments.

6.

Pay Invoices Online

Identify suppliers that accept online payments for invoices, and designate a member of your AP staff to handle online payments.

7.

Explore Alternative Options

Develop solutions for large suppliers that are resistant to accepting card payments. These solutions reduce the acceptance barriers and provide encouragement to switch from check and ACH to commercial card payments.

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Important Legal Disclosures & Information

This Payment Solutions News was prepared for general information purposes and is not intended as legal, tax or accounting advice or as recommendations to engage in any specific transaction, and does not purport to be comprehensive. Under no circumstances should any information contained in this newsletter be used or considered as an offer or commitment, or a solicitation of an offer or commitment, to participate in any particular transaction or strategy. Any reliance upon any such information is solely and exclusively at your own risk. Please consult your own counsel, accountant or other advisor regarding your specific situation. Neither PNC Bank nor any other subsidiary of The PNC Financial Services Group, Inc.  (“PNC”) will be responsible for any consequences of reliance upon any opinion or statement contained here, or any omission.

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