Historically, B2B payments have often played out like a tug-of-war, with buyers aiming to retain their cash as long as possible while suppliers seek prompt payment. As a result, innovations that benefit both sides are often viewed through the lens of competing interests. Virtual cards, for example, offer a compelling solution for accounts payable (AP) teams. With features like enhanced security, improved spend management, and the ability to earn supplier rebates and discounts, virtual cards enable buyers to streamline AP processes and boost profitability. At the same time, these tools deliver advantages to suppliers’ accounts receivable (AR) teams, such as faster payments and improved cash flow. Despite these benefits, some suppliers remain hesitant to embrace virtual card payments

Midsized businesses in the U.S. are moving away from traditional single-bank relationships in favor of a more diversified approach, according to data insights platform Codat. The data comes from a survey of 500 midsized businesses earning between $10M and $1B, and found that 68% now work with more banks than they did three to five years ago, making ‘polybanking’ the new banking relationship norm.The data found that 50% of businesses surveyed work with three or more banks, signalling that competition is intensifying in the midmarket, and technology is emerging as the top differentiator. Bank of America and JP Morgan Chase came out as the leading primary banks for most businesses, but their competitive advantage isn’t just customer service—it’s technology. Roughly one-third (33%) of finance leaders say advanced online features are their top priority when choosing a banking partner.Despite the dominance of major banks, businesses are sourcing just 63% of their financial services from their primary institution, highlighting an increasing reliance on alternative providers. More than a third (37%) of mid-sized businesses are now engaging with fintechs or neobanks to fill gaps left by traditional banks.As businesses increasingly rely on cloud-based apps for a comprehensive view of their financial health, they are becoming more willing to share their data in exchange for smarter, more tailored financial services.Over half (53%) of businesses surveyed are open to the idea of granting banks continuous access to their financial data—provided security measures are robust