Forty percent of business-to-business payments will be made electronically this year, according to a report from Marshall & Ilsley Corp.'s Vicor Inc.
The Richmond, Calif., maker of lockbox automation systems said Monday in its inaugural Corporate Payment Progress Index that the low costs of e-payments will continue to attract more corporate treasurers, and that 55% of B-to-B payments will be made electronically in 2008.
Among the four major payment mechanisms - automated clearing house, check, wire transfer, and purchasing card - the biggest shift has been away from checks in favor of ACH transactions, the report said.
The Boston market research company Celent LLC helped compile the report.
More than 200 corporate treasurers from a variety of industries were surveyed, Vicor said.
