Between 2013 and 2015, U.S. commercial card purchase volume grew at a compound annual growth rate of 9%. The major industry growth driver is electronic accounts payable (EAP) as both buyers and suppliers have increasing awareness of the value of card-based products in the payables flow.
According to Mercator Advisory Group the increase in U.S. commercial card purchase volume in 2015 was largely driven by P-card-related spend, including virtual accounts in both reusable and single-use forms. Traditional commercial card accounts (walking plastics for both travel and procurement) continue to grow between 4% and 7% combined.
The Mercator report reviews the corporate purchasing and virtual credit card landscape for the mid to large corporate market sectors. The report discusses how virtual card payments, led by single-use accounts (SUA), are driving the current growth trends.
The double-digit growth in EAP has been the driving force behind the recent higher commercial card growth. Mercator Advisory Group expects that this trend will continue over the next four years
The research report is 20 pages long and contains 7 exhibits. Companies mentioned in this report include AOC, Bora Payment Systems, Comdata, CSI Enterprises, Verient, and WEX.
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