It’s no secret that the B2B payments space has fallen behind other areas regarding payment innovation. While consumer and peer-to-peer payments have evolved rapidly, B2B payments have lagged way behind. And for the most part, in stark contrast to what consumers and businesses expect—they want fast, frictionless, and seamless payments.
The business payment industry is constantly pushing the boundaries of what’s possible for merchants and their clients, from new technologies to rising fraud. With this in mind, we’ve updated our business payment guide to walk you through all you need to know about the B2B payment landscape for 2022 and beyond.
Across every industry, all businesses are zeroing in on payments to deliver that much-needed boost for their bottom line.
The future of B2B payments lies in adapting and changing quickly to new information. Payment methods are no longer static. New features, new technology, and new ways to pay are here to stay. For this reason, getting ahead of trends in the payment space before they become expected standards in your industry is vital.
There’s no doubt that B2B payments are in digitization mode. The innovation we have seen in business-to-consumer (B2C) and peer-to-peer(P2P) have fast made their way into the B2B space. A business isn’t simply a business anymore—it is made up of people. And each and every one of those people is a consumer. As our professional lives continue to blur outside the lines of a Monday to Friday 9 to 5 world, our personal experiences will continue to weave into professional expectations.
How companies pay and get paid has become big business. And it is not stopping there.