News — AmericanExpress
Building Vendor Trust With Virtual Cards
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The U.S. construction market is on a roll, and recent data suggests it is unlikely to slow. The market is on track to record a compound annual growth rate (CAGR) of 4.9 percent from 2019 to 2023, reaching a value of $1.8 trillion. Construction firms looking to succeed in this growing market and turn a profit must complete their projects on time, which means access to steady cash flows is crucial. Businesses that fail to make payments to suppliers or vendors in a timely fashion risk alienating partners and stalling projects. Having the right payment tools is therefore as important...