B-to-B payments

Veem specializes in cross-border payments, but when small-business customers clamored for help this month with emergency SBA loans, the fintech responded.

When we go back to normal, it's our opportunity to start making long-overdue infrastructure upgrades, says Nvoicepay's Derek Halpern.

Fast-moving payments innovation was already threatening comfortable connections between consumers and businesses before the pandemic turned the trend into an outright crisis.

IT projects are under scrutiny due to the coronavirus, not only in terms of budgets but also how fast firms can deploy automation for tasks such as business payments for companies that have turned to remote work.

Even before the coronavirus pandemic, it was becoming clear that the work of the past decade to establish the Single Euro Payment Area was paying off with real-time payments networks and opening possibilities for another European payments scheme.

Fintechs, startups and bank-led projects were already working to excise generations of inefficiencies out of supply chains. The coronavirus has heightened the need for smooth payments.

For decades, automated check reconciliation stood out as the lone sanctuary for AR professionals. However, the advent of payment automation indicates that electronic payment reconciliation is more than capable of taking up the baton, says Nvoicepay's Kim Lockett.

The coronavirus pandemic is likely to force a great leap forward in the fight to crush paper checks, which still account for about half of B2B payments, by moving more invoice payments online.

Siam Commercial Bank is partnering with Ripple to provide instant cross-border payments for small and medium size enterprises (SMEs).

In our first episode of PayDirt: A PaymentsSource Podcast, we talk with Melissa Smith, the CEO of WEX, and her colleague Jay Dearborn about the biggest changes in store for transit, health and corporate payments.