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Small business and commercial card payments are an exciting growth and relationship opportunity for community banks. Both small business and commercial card types hold strong value and the size and spend of a company will determine which card they need in their employee’s wallets. For FIS TBS clients, the new Payments One platform will soon offer many new features and functionality for commercial accounts.
The FIS Payments One platform leverages a new ecosystem
The Payments One platform migration will begin in 2023. Payments One will provide a single ecosystem that centralizes a bank’s card platforms to one central source. Payments One will unite servicing tools via a centralized user interface that enhances workflows, improves functionality, and delivers a superior user experience. A few noteworthy features that will become available upon migrating to Payments One include:
Advanced suite of thousands of APIs and event broker technology that allows for seamless integration
Setup rebates in Payments One Credit (revenue share on interchange with commercial companies)
Established virtual cards (standard, single use account (SUA), and/or multiuse account (MUA))
Look for more information soon from FIS and ICBA Bancard on the Payments One migration and all the benefits available to community banks.