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Article: A Sour Economy Has More Businesses Sweet On Cards; Some issuers report growth in commercial card programs as corporations seek cost savings.(Cards: Commercial)
- Article from:
- Cards & Payments
- Article date:
- November 1, 2009
CopyrightCOPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Kate Fitzgerald
The recession has taken a bite out of consumer and business card spending, but not all card issuers are singing the blues. Several major commercial card issuers say their purchasing and travel-and-entertainment card activity is on the rise, as corporations seek savings from shifting business-to-business spending from paper checks to plastic.
Even in these tough economic times, more and more corporations are switching routine payments from invoices and checks to purchasing cards, industry analysts say. And though paper-based purchases still dwarf electronic payments, the recession may be helping to speed the migration of routine ...