When it comes to innovations in business-to-business (B2B) payments, the marketplace once again is taking its cue from the consumer space. Modernization of consumer payments has largely been driven by demand for a better customer experience.
In much the same way, banks are responding to businesses who are keenly interested in leveraging emerging technologies to improve transparency, expand optionality, and lower costs associated with cross-border payments. Considering the difficult environment banks and businesses alike are experiencing globally, providing payment solutions that are transparent, simple and low cost is now more important than ever.