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The Hidden (but growing) Costs of Payments Acceptance in B2B

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As an expert in payments, you’ve likely investigated dozens of ways to help lower the cost of consumer payment acceptance, exploring everything from debit routing to fraud tools and account updater solutions. On the surface, there’s not much more juice to squeeze out of omnichannel payments. But did you know there is a hidden channel that expands the size of the payments pie and gives you a real opportunity to save time, money, and resources? It’s in the back office where potentially thousands of virtual card payments are received from B2B customers, marketplaces, and platforms. Attend this session and you’ll quickly grasp how you can apply your extensive knowledge of payments to advocate for your Accounts Receivables team and help them understand solutions that reduce processing costs, get you faster access to funds, streamline remittance efforts, and free up resources.

Learning Objectives:

  1. Understand back-office receivables and the challenges of getting paid with virtual cards
  2. Learn how automating virtual card acceptance reduces the total cost of acceptance
  3. Learn how to assess whether your organization would benefit from virtual card optimization

Contributors

  • Bob Walker | Consultant, Special Projects - Elavon

    Mr. Walker has had a long career in the payments industry, which started at the Federal Reserve Bank. At that time, electronic check truncation was just an idea circulating in position papers. Bob began with Elavon in 1994 where he held various positions, which included oversight of global interchange and billing and the expansion of those functions into the global airlines segment, as well as across the EU and Latin/South America.

    As an advocate for merchants, he appreciates opportunities to listen to customers and understand the issues and challenges they face. Acceptance of Virtual Cards, and solving for the associated labor and reporting difficulties, is a worthy challenge, and one that he felt passionate about resolving.

    Bob, who is a United States Air Force veteran, is married to his wife of 44 years, and together they have two children and five grandchildren.

    Additionally, he serves as the Treasurer of Peachtree Corners Photography Club, Inc. where he recently achieved recognition for them to become a 501(C)(3) nonprofit corporation in Georgia.

  • Hannah Frels | Treasury Director - APi Group, Inc.

    Hannah Frels is the Treasury Director at APi Group, Inc. She joined APi in 2011 and, since then, has been in various accounting and treasury roles. The APi Group Treasury Team supports a diverse family of companies, including debt compliance, mergers and acquisition integration and onboarding, cash management and ancillary services such as merchant services.

    Hannah earned her bachelor’s degree in accounting from the University of St. Thomas. She began her career in public accounting and spent time at a small asset management firm before joining APi. Hannah is married to her husband Randy and has two daughters.

June 8, 2022
Wed 12:00 PM CDT

Duration 1H 0M

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