Research

Visa Merchant Survey

August 11, 2009

Sixty-eight percent of financial executives and cash managers surveyed by Visa USA said they plan to reduce their reliance on checks for commercial payments, a recently released survey reveals. At the same time, 63 percent plan to increase their use of corporate payment cards, which executives view as a more efficient payment method due to enhanced transaction-data reporting and visibility into cash position, the survey says.

Other key findings include:

• 53 percent of respondents report using corporate payment cards to make payments, up from 41 percent in 2005.
• 40 percent said checks make up more than half of their company’s transactions when making payments, down from 66 percent one year ago.
• 44 percent said they utilize cards for receiving commercial payments, up from 27 percent last year.
• 92 percent of respondents said reduction of back office payment processing costs is influential in encouraging their company to make greater use of corporate payment cards.

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