Fifth Third Bank has introduced an upgraded electronic accounts payable (EAP) solution for its commercial card customers.
Dubbed Fifth Third ePay, the payment platform allows commercial card clients to pay using virtual card numbers.
The updated solution provides several benefits to commercial clients including: greater cash flow management, greater client control and easily accessible data and reporting.
Other benefits include increased risk management & fraud control, increased electronic payment usage, and quicker navigation.
Fifth Third Bank director of wholesale payments Bridgit Chayt said: “Last year Fifth Third’s commercial card clients used our electronic accounts payable solution for nearly 25% of payments to their vendors and partners.
“The new platform makes the solution more convenient and secure for our business clients.”