Review of developments in payment systems 2010: Payment cards

Payment cards are now being integrated into banks’ overall payables and receivables solutions, as shown in Figure 1. As Alan Koenigsberg, head of international card products at J.P. Morgan, explains, "Our business model complements the way our clients do business. They don’t split up their supply chain so why should we? By having an integrated suite of products and services, we’re in a strong and comprehensive position to deliver solutions that will increase working capital, promote efficiency and mitigate risk."