Spend Matters to capitalize on growing Pcard market

The use of Pcards has been growing since the early 2000s.  The significant growth in spend value during the last few years was largely driven by the expanding use of Pcards for the low dollar value category to sizable medium dollar spend categories.   Now, Spend Matters has joined the growing trend toward virtual cards – see SpendMatters announces new MySpendMatters Procurement Card.  Jason Busch commented on the new program ““P-cards enable our subscribers to add  a new dynamic to making payments.  We are excited to give our loyal subscribers a rebate opportunity.”

This announcement follows the trend for single use accounts or virtual cards to have emerged as key tool to capture AP invoiced spend categories.  The $165B global P-Card market is expected to grow at an 8% CAGR from 2014 to 2015.

Spend Matters has joined a growing number of companies using virtual cards, which is expected to increase from 34% today to 55% by 2015 (in the USA).

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