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IndustryUpdate

although damaging to issuers' bottom lines into 2021, and consulting firm RBR. Domestic schemes are often
will be somewhat offset by subsequent gains in B2B pay- used as financial inclusion tools, RBR stated, adding that
ments as companies accelerate digital adoption. domestic schemes have an excellent understanding of
their target customers and financial difficulties they face.
Benefits to automating, outsourcing A/R

Titled Automation and Manual A/R Processes: Capital PARTNERSHIPS
Considerations to Grow B2B Businesses in 2020 and Beyond,
a new MSTS report explores how strategic automation Blackhawk, Facebook help healthcare workers
of back-office processes and quality partnerships can
help B2B enterprises optimize digital payment process- Blackhawk Network collaborated with the California
ing and streamline the A/R process. MSTS surveyed 300 Governor's Office of Emergency Services to deliver
U.S.-based B2B finance professionals about their pro- stipends to healthcare professionals on the frontlines
cesses for managing A/R tasks and found that 40 percent of efforts to control the COVID-19 pandemic. The $25
of finance executives said improving working capital million in aid—donated by Facebook—was dispersed
management is the top department goal for 2020; yet, 94 in the form of 50,000 prepaid cards from Blackhawk's
percent of B2B finance employees manually input infor- OmniCard.com portal. The cards can be redeemed
mation into their A/R systems. online or in stores to help with transportation, lodging,
childcare and other costs incurred by healthcare profes-
RBR studies role of domestic cards sionals.

Cards carrying only a domestic scheme's branding Discover, Card IQ tackle fleet payments
accounted for 12 percent of all payment cards world-
wide in 2018, and this sector has strong growth poten- Discover, a digital bank and payments company, and
tial, with products tailored to local market requirements. financial technology startup Car IQ created a payment
This is according to Global Payment Cards Data and platform for machine-initiated payments, beginning
Forecasts to 2024, a study carried out by strategic research with automotive fleets. Fleet vehicles connected to the

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