The B2B payments discussion often centers around innovators’ efforts to kill the check.
Unfortunately, simply introducing an electronic alternative to paper checks is not enough to kill this sticky and popular payment method.
Innovators must consider a range of factors, from the size of the company making the payment to the infrastructure constraints of the firm receiving it. There is no straight line to killing the check, but in the path to B2B payments innovation, a plethora of possibilities emerges.
Today, some of the industry’s biggest players will converge in New York City at this year’s PYMNTS B2B Payments Executive Forum, with Visa as presenting sponsor. The forum is a call to action for key industry stakeholders to tackle friction in the $125 of global payments volume flowing between businesses around the world. And, it’s an exploration among experts as to why — despite years of innovation and technological advancements — the inertia of paper and manual processes to stunt B2B payments technology adoption.