SunGard announced today that its virtual card volume through its integrated B2B payments solution AvantGard PayNetExchange in 2012 increased by 384%.  AvantGard PayNetExchange allows companies to operate smarter and more efficiently through outsourced payments processing including check, ACH, wire and virtual cards for lower transaction costs and monthly rebates. The virtual card program is a corporate B2B payment program where the payer receives rebates as they make payments to those vendors that accept card payments.

SunGard believe that this growth is due largely to an increasing number of corporations looking for ways to cut costs and streamline processes.  By focusing on ACH conversion, corporations can reduce payments processing costs and can even eliminate payments processing costs altogether as well as earn rebates with virtual card programs.

RBS Citizens 'new-revenue generating payables service'
Enabling clients to source a new stream of revenue from their accounts payable, RBS Citizens Treasury Solutions is launching accessPAYMODE-X, a new electronic payments service for its corporate banking customers in which, by using virtual cards, users will receive rebates as they make payments.

RBS Citizens Treasury Solutions customers using accessPAYMODE-X will be linked to the e-payables network Paymode-X® developed for businesses and their suppliers. Paymode-X, powered by Bottomline Technologies Inc., is currently drawing over 3000 new suppliers each month, with more than 200,000 suppliers already enrolled. As part of the network, suppliers have easy access to detailed payment information.