As real-time payments (RTP) gain traction with consumers via peer-to-peer (P2P), the pump may be primed for business-to-business (B2B) transactions to follow suit.
Bottomline Technologies Vice President of Product Management and Strategic Solutions Jessica Cheney told PYMNTS that increasingly, the speed, transparency and certainty of faster payments will prove valuable in support of B2B transactions.
But there are some hurdles to clear before the tipping point is reached.
One hurdle is decidedly not with the real-time infrastructure that’s in place. Although conventional wisdom may hold that the U.S. has lagged behind other countries when it comes to laying the technical groundwork for RTP, Cheney said there are a number of avenues through which RTP transactions can take place, and indeed are happening now.
Key among those conduits, of course, is the Clearinghouse RTP network, where commercial real-time payments made their debut in the U.S. roughly two years ago.