61% of North America Middle Market Companies Use Cards to Speed Cash Flow

For many growth-company CFOs, working capital is no longer a back-office cushion, but a strategic lever.

That is a central finding from “The 2025-2026 Growth Corporates Working Capital Index,” a Visa and PYMNTS Intelligence report based on a survey of 1,457 CFOs and treasurers across 23 countries, five regions and 10 industry groups. The report shows that growth corporates, often described as middle market companies, are using external working capital tools to manage volatility, support expansion and build resilience heading into 2026. These companies generate enough scale to power local, regional and global economies, but many remain underserved by traditional financial providers.

The CFO angle is clear. Finance leaders are not only trying to cover shortfalls. They are trying to make cash flow more predictable. That means using working capital to fund capital investments, buy inventory, expand into new markets, upgrade systems and pay strategic suppliers faster.

The findings point to a more active model of treasury management, where liquidity is used with more precision.

65% of European growth corporates use new forms of AI for working capital efficiency. The report defines those uses as including financial planning, forecasting, scenario modeling, invoice processing, reporting and customer or supplier onboarding. LAC follows at 62%, APAC at 61%, CEMEA at 59% and North America at 42%.

61% of North American growth corporates use card acceptance as a strategy to reduce days sales outstanding. Europe follows at 54%, LAC at 53%, APAC at 50% and CEMEA at 45%. For CFOs, that points to a practical way to convert receivables into usable cash sooner.

Growth corporates in LAC lose an average 5.0% of revenue chasing late payments from business customers. The comparable figures are 4.0% in Europe, 3.6% in CEMEA, 3.5% in APAC and 3.0% in North America. That shows why payment speed and visibility remain high on the CFO agenda.

The positive read is that finance teams have more tools than they did a few years ago. AI can help forecast cash needs. Card acceptance can help shorten collections. External working capital can help CFOs act before cash pressure turns into a constraint.

The report also finds measurable benefits from using external working capital solutions. Average bottom-line benefits range from 3.1% of revenue in North America to 5.0% in LAC. In dollar terms, those benefits range from $13.4 million in North America to $24.1 million in Europe, based on the underlying revenue estimates in the report.

That does not mean every sector or region faces the same trade-offs. Agriculture, healthcare, manufacturing, construction, retail, travel and technology each show different working capital patterns. Some sectors face heavier late-payment costs. Others show stronger AI adoption. Still, the broader story is consistent.

CFOs are being asked to do more than preserve liquidity. They are being asked to turn liquidity into an operating advantage. The data suggests many are already moving in that direction.