Home » General World News » THE B2B PAYMENTS EXPLAINER: Why business payments have been slow to digitize, and what’s changing that in 2017

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THE B2B PAYMENTS EXPLAINER: Why business payments have been slow to digitize, and what’s changing that in 2017

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As the world around us digitizes, payments are no exception. The way we manage money and make payments has moved from physical channels, like cash and checks, to digital methods, like cards and online platforms. And though that’s been a long-term shift, it’s one that’s occurred rather seamlessly.

This isn’t the case for businesses, where the business-to-business (B2B) payments process is considerably more complex, and as a result, almost entirely analog for the majority of businesses. When businesses pay one another, like transactions between a supplier or a buyer, the process is cumbersome, involving invoices, waits of 30-to-120-days, multiple banks read more >>>

Source:: BusinessInsider.Com

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