Arvest Credit Card Division Releases 2022 Commercial Growth Figures

(Fayetteville, AR) – Arvest Bank announced that its credit card division generated record spend volume in commercial credit card payment solutions during 2022.

Arvest Commercial Credit Card Payment Solutions provides a variety of solutions that allow business customers throughout the bank’s four-state footprint to make payments with purchasing cards and ePayables programs.

In 2022, the Arvest Commercial Credit Card department posted a record spend total for its commercial payments portfolio, including purchasing card and ePayables customers. The portfolio’s total spend was over $1 billion, which is a 16.57% increase over 2021.

“We are incredibly excited about last year’s growth,” said Keith Zollicoffer, Director of Arvest Commercial Credit Card Payment Solutions. “This overall growth can be attributed to a variety of factors, including how businesses reevaluated vendor payment methods during the pandemic. Traditional checks became a challenge, and ePayables offered a more streamlined solution. The added mobile functionality in our purchasing card program allowed cardholders to more seamlessly capture receipts and complete expense reports.”

The commercial credit card industry continues to evolve and Arvest works diligently to enhance card payments to make the payment process more efficient in as many ways as possible.

About Arvest:

Arvest Bank is a community-based financial institution serving more than 110 communities in Arkansas, Kansas, Missouri and Oklahoma via loans, deposits, treasury management, credit cards, mortgage loans and mortgage servicing, among other services. Total assets exceed $26 billion. Arvest combines a strong branch network, featuring more than 200 banking locations, with continued investments in digital banking as we strive to meet customers’ changing preferences and expectations. We are defined by our commitment to our communities and to attracting, hiring and retaining a diverse group of talented people. Arvest is an Equal Housing Lender and Member FDIC.

About Arvest Wealth Management:

Arvest Wealth Management offers wealth management, trust services and insurance products. Investments and Insurance Products: Not a Deposit, Not Guaranteed by the Bank or its Affiliates, Not FDIC Insured, Not Insured by Any Federal Government Agency, May Go Down in Value. Trust services provided by Arvest Bank.