// Financial Institution Insights

Virtual Payments: Technology's Impact on the Future of Payments.

"Electronifying” the future of payments.

Mark Armitage

September 5, 2016

The world is changing fast. Today’s leaders are looking for innovations to streamline their business practices and improve their processes. As we speak, innovative technology is changing nearly every industry – and it’s changing the banking industry too. Case in point: virtual payment solutions.

Virtual payments are growing rapidly. They’re an ideal alternative to checks and other electronic payment methods because they provide the security and controls needed for higher value purchases, while offering benefits that checks, wire and ACH cannot.

In our virtual payment video series, we explore a variety of topics Financial Institutions need to pay attention to as this evolving, important trend continues to impact and influence commercial customers’ banking choices.

The world is changing fast. Today’s savvy leaders are looking for innovations to streamline their business practices and improve processes. Technology has already changed the taxi, hotel and retail industries. How might technology impact the future of payments? 


This video is a result of a conversation we hosted, featuring a trio of industry thought leaders and practitioners:

Frank Martien: Partner, Commercial Payments, First Annapolis Consulting

Frank Martien leads First Annapolis’ Commercial Payments practice area and specializes in bank issuance of consumer credit cards, small business credit cards, and commercial cards (e.g., corporate, purchasing, virtual accounts, fleet).  His engagement experience includes a wide spectrum of strategy, market sizing, growth opportunity assessment, primary and secondary market research, financial analysis, RFP/vendor selection, valuation, expert appraisal, and M&A-related assignments.

Frank’s clients include banks, payment networks, end-user organizations, and retailers. Through client assignments, speeches at major industry events, published articles and quotes, and as an Advisory Board Member of Commercial Payments International, Frank is a recognized industry expert.

Susan Thompson:  Merchant Card Services, Fulton Financial Corporation

Susan Thompson has been in the card payments industry for the past twelve years.  Currently Susan is the lead Product Manager at Fulton Financial Corporation, providing payment and card solutions to commercial bank customers.  The product suite provides solutions for businesses of all sizes.

Prior to her present role, Susan focused on merchant implementations and onboarding, also at Fulton Financial Corporation. Fulton Financial Corporation is a top 60 US acquiring bank that serves a five state footprint, and is headquartered in Lancaster, PA.

Mark Armitage: Agent Bank Sales, U.S. Bank / Elan

Mark Armitage has been involved in the Commercial Payments industry for the past eight years. Currently Mark is leading a channel within U.S. Bank which specializes in providing white labeled solutions to financial institutions that are looking for an alternative to being self-issuers of commercials card products. 

Prior to his present role, Mark was Vice President of Canadian Sales for U.S. Bank, and previous to that, he served as a Sales Manager where he worked directly with clients, providing solutions to help streamline their payables process in both procurement and T&E.


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