Commercial Cards as a payment solution have developed a lot in recent years. More and more businesses of all sizes, across all different sectors, are seeing the value in using Commercial Card solutions in both day-to-day and business-critical transactions.

For businesses looking to streamline their payment processes, support their working capital and achieve greater efficiency, Commercial Cards can be a smart solution.

While many suppliers are happy to accept card payments, some might have restrictions on the type of payments they accept, or transaction limits. Others might view accepting card payments as an extra cost on their own processes. But that can be a missed opportunity.

Save time, boost efficiency

Unlocking that opportunity and helping businesses trade friction-free is why we've launched our new eOptimise solution. It offers the benefits of paying by card even when trading with suppliers who don't accept card payments. They simply process it as they would any other payment type.

It allows for seamless transactions and is just another way we can help businesses become more robust and resilient. Supporting working capital and securing supplier relationships at a time when supply chains and costs are being squeezed, can help manage a key business risk.

So how does eOptimise differ from other Commercial Card solutions? eOptimise means:

• Shifting the processing of the transaction, and the cost, from the supplier to the buyer, or even allowing that cost to be shared.

• Enabling buyers to achieve early payment discounts.

• Providing payment amount certainty by putting you, the buyer, in control of the amount being paid.

• A win-win solution, with credit terms that help buyers keep their cash for as long as possible and suppliers to get paid as quickly as possible.

• No process change, because eOptimise works with your existing systems, so you avoid the time, effort and money associated with change.

• No limits. Whether you're paying a £20 or a £20m invoice, it works the same.

Optimise your working capital

With so many Commercial Card solutions available, it's important to choose one that works for your business, your circumstances, and your supply chain. By developing a full understanding of your business and how it operates, our experienced teams can support that process.

Customers that already use our Commercial Card solutions can speak directly to their Cards team to find out more about eOptimise. Otherwise, you can contact us through our website or email, and we can put you in touch with our specialist teams. They'll pick up with you to arrange a thorough analysis of your existing payment processes and needs, how these might develop, and identify the best solutions for your business.

This process can help businesses understand which solutions are available to optimise their working capital and supplier relationships. If your business has used Commercial Cards in the past for travel and expenses, for example, but hasn't considered them as a broader payment instrument, you might be surprised.

Value through innovation

Using cards to support business-to-business relationships is an evolving landscape and, as an industry, card issuers are working hard to specifically address the needs of businesses operating in that space. It's about enhancing capability and reducing friction, and eOptimise is a great example of that.

It sits within an even broader range of business-to-business solutions too, of course. But it's really just the start and we're going to see more and more innovation in the coming years. Our commitment to innovate will mean that we improve data analysis, make price points more competitive, and deliver greater value than ever before.

Looking ahead, Lloyds Bank is committed to innovation across the whole business, and in Commercial Cards we see a fantastic opportunity to deliver value at both ends of the transaction by enhancing the seamlessness of processing.

Linda Weston is Head of Commercial Card Products at Lloyds Bank

See how we've helped other businesses like yours at bit.ly/lloydsExcool

For more information, visit lloydsbank.com/cardsolutions or email us at lbgcommercialcards@lloydsbanking.com