Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Photographer: Andrew Harrer/Bloomberg

In recent years, the core offering of commercial cards has undergone significant transformations. As a result of new product offerings and changing business expectations, commercial card use has risen dramatically. The renewed growth of these products presents credit unions with an opportunity that has been overlooked by their larger counterparts.

In fact, many of the larger national banking corporations had considered commercial cards to be a thing of the past, with many either failing to update their offering or selling their commercial card portfolios to third parties. However, commercial cards are now among the fastest-growing products for banks and commercial card spending continues to increase. By 2020, we estimate that spending levels will have increased by 71% from 2013 and the compound annual growth rate will reach 8%. This growth has resulted in issuing banks racing to improve their capabilities and gain a share in a growing but highly competitive market.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.