Virtual cards have been in the B2B payments spotlight for years, but adoption is still lagging. Despite clear benefits like faster payments, richer remittance data, and fraud protection, many companies still default to checks or ACH. So, what’s standing in the way?

According to Eric Frankovic, President of WEX Corporate Payments, the problem isn’t the technology — it’s the approach.

In a recent interview with PYMNTS, Eric explained why a buyer-focused strategy falls short and how we need to reframe virtual card programs as mutually beneficial for both buyers and suppliers. “It’s no longer a buyer-only world,” he said. “We have to tune what we do to make sure that we’re balancing the value between buyers and suppliers so both sides are benefiting.”

Why suppliers still hesitate

Buyers often pursue virtual cards for the right reasons: they offer efficiency, security, and even the potential for rebates. But if the supplier ends up absorbing added costs or navigating a clunky process to accept them, the incentive is lost.

“The primary reluctancy is if you are inserting a virtual card, you’re not giving me any other value as a supplier, and you simply are adding costs to my business,” Eric said.

That’s the heart of the issue. A virtual card program that works only for the buyer will inevitably hit resistance. Suppliers need a reason to say ‘yes,’ and that reason needs to be rooted in real value, whether it’s faster payments, easier reconciliation, or better cash flow predictability.

So what’s the solution to overcoming resistance? According to Eric, “It really has to be a three-way conversation between the buyer, supplier, and then the payments company that sits in between.” 

The power of partnership

WEX is advocating for a more collaborative approach, one that brings together the buyer, supplier, and payments provider to align on shared goals. Rather than forcing a one-size-fits-all model, this approach considers what each supplier values and adjusts the terms accordingly.

Eric explained, “If I have a supplier and they’re used to getting paid in 30 days, we have to maintain that. And once you have that consistency … you can start to introduce shortening that.”

In some cases, that might mean introducing dynamic discounting, where the supplier can opt to be paid sooner in exchange for a discount. “I’ll pay you in 15 days, but we’re going to use a dynamic discounting mechanism,” Eric used as an example.

Start small to get it right

Trying to overhaul your supplier payment program in one big push can be overwhelming for you and your suppliers. That’s why WEX recommends starting small and scaling up. Eric calls it a “land and expand” strategy.

“Take the first step… work with 10 or 15 of your suppliers,” he advised. “Understand how that impacts your systems, your AP department. See what benefits you get out of it, and then take the next step.”

This iterative approach allows for testing, feedback, and adjustment before making a larger commitment. It also helps build a strong internal case for broader adoption, backed by real results.

People make it work

Even in a world of automation and digital transformation, people still play a central role in supplier enablement. Eric stressed the importance of knowledgeable teams who can support relationships and anticipate supplier needs.

“People are core to all of this working,” he said. “The people working on these relationships have to be industry experts. They have to know the various competitors and the options that the buyers and the suppliers have.”

A strong supplier enablement team can bridge gaps, offer training and onboarding support, and help ensure that suppliers don’t feel like they’re being asked to do more with less.

Checks are still popular — but not forever

Despite nearly universal awareness of virtual card capabilities, old habits die hard. Paper checks remain a default payment method for many B2B transactions. Eric knows it’s not an easy fix.

“I won’t pretend to know [how to get rid of checks] because if I knew I would’ve solved this a long time ago … I think it’s just a reluctance to change and a fear of the unknown.”

But the key, he suggests, is confidence on both sides. Suppliers need to feel supported, not steamrolled. Buyers need to see measurable benefits, not just theoretical ROI. And both sides need the assurance that the payments provider will stick with them throughout the journey.

Where to begin

If your business is still stuck between wanting to modernize and not knowing where to start, the takeaway from Eric’s message is clear: take the first step, and don’t do it alone.

A virtual card strategy shouldn’t be just about internal gains or external optics. It should be about value alignment, relationship building, and iterative progress. That means listening to your suppliers, working with the right partner, and measuring what matters.

“There’s no harm in that first step,” Eric said. “You can always step it back if it’s not something your organization is ready for.”

For more insights and updates on corporate payments, check out:

• Your guide to virtual card rebates
• 2025 payment trends
• Accounts payables: Terms you need to know

The information in this blog post is for educational purposes only. It is not legal, tax or investment advice. For legal, tax or investment advice, you should consult your own legal counsel, tax, and investment advisers.