Innovative Card Payment Solution Achieves 8X Industry Average Acceptance Rate, Expands to Higher-Value Suppliers
ORLANDO, FLORIDA / ACCESS Newswire / April 29, 2025 / Finexio, the leading provider of Accounts Payable (AP) Payments as a Service, today announced the expansion of its Card by Mail (CBM) solution-proven as an innovative, frictionless approach to converting long-tail suppliers from check to virtual card payments.
Now marking the one-year anniversary since its launch to AP2P platforms, issuing banks, and bill payment providers, Card by Mail has exceeded expectations. The program has consistently delivered supplier acceptance rates of over 60% of total spend, compared to just 7% virtual card adoption across the broader U.S. B2B payments landscape when it was introduced. With new self-service enhancements, CBM continues to streamline the supplier experience and strengthen Finexio's leadership in driving B2B virtual card volume.
Card by Mail removes barriers to virtual card adoption by eliminating the need for 1:1 supplier onboarding or email prerequisites. Initial virtual card payments are sent by mail-suppliers either process the card, opt out, or upgrade to email delivery of their virtual card for faster receipt of payment. This seamless experience has driven adoption beyond human scale while reducing operational lift for AP teams.
"The supplier response to Card by Mail has been extraordinary, achieving 60%+ acceptance among suppliers invoicing up to $100K annually", said Ernest Rolfson, CEO and Founder of Finexio. "In just 12 months, we've rolled out to tens of thousands of businesses and successfully enrolled their suppliers in Card by Mail. Now, we're expanding CBM to additional segments, identified by our AI and ML models as strong card candidates, to further drive digital payment adoption and revenue for our partners and buyers."
For more information about Finexio's expanded Card by Mail program, visit finexio.com/card-by-mail or schedule time to speak with a Finexio payments consultant: finexio.com/book-a-consultation.
About Finexio
Finexio is a trailblazer in the B2B payments industry, pioneering an innovative Accounts Payable Payments Infrastructure as a Service model. Embedded within the world's leading Procure-to-Pay software suites, Finexio's platform delivers a fully managed, AI-powered solution that optimizes, monetizes, and secures the entire payment lifecycle.
Our comprehensive infrastructure seamlessly orchestrates payment delivery, streamlines supplier management, prevents fraud, enables payment monetization, and provides robust analytics and reporting. This unique approach transforms AP from a traditional cost center into a strategic revenue generator. By offering cutting-edge technology coupled with white-glove service, Finexio significantly enhances operational efficiency, payment security, and customer satisfaction for our Procure-to-Pay partners and corporate clients.
Trusted by hundreds of forward-thinking CFOs and processing billions in secure, efficient payments annually, Finexio is driving a paradigm shift in financial operations for mid-market and enterprise organizations across diverse industries.
Contact Information
Steve Greene
Marketing
steve.greene@finexio.com
2072664200
SOURCE: Finexio
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/banking-and-financial-services/finexio-expands-frictionless-card-by-mail-solution-driving-60-virtua-1018230
