B-to-B payments

While a majority of business payments are still made by checks, faster payments and increased cash flows will pressure a move to digital options, contends UMB's Brian Hutchin.

Because the cost of cross-border payments can substantially bite into profit margins for travel agencies, payments technology provider Ixaris and financial service infrastructure developers Banking Circle are partnering to eliminate that expense with virtual bank account numbers.

Vocalink, a Mastercard unit, is partnering with Saudi Payments, a subsidiary of the Saudi Arabian Monetary Authority to launch real-time payments in the kingdom.

Less than a day after saying it would work with large core processors in a consolidating industry, Visa has struck a deal to link its B2B platform to FIS' bank clients.

Intuit Inc.'s QuickBooks is adding next-day ACH payments to its platform as a faster payments option for small businesses using its business management tools.

As part of its formal spinoff from consumer lender Affirm, B2B e-commerce platform Resolve is launching automated payments that offer extended net terms for product buyers.

There are many motivations for implementing faster payments, such as paying gig economy workers after each job, sending funds overseas, or improving insurance payouts. In all of these examples, the demand comes from the payments recipient.

Some companies believe that their employees will know the difference between legitimate versus spoofed emails. While this might be true some of the time, even one mistake can be costly, writes David Barnhardt, executive vice president of product at Giact.

Hong Kong's DBS Bank is integrating into the country's new Faster Payments System to allow small businesses to accept QR code instant payments.

Transactions along the supply chain are a particularly good use case, argues Vinay Pai, senior vice president of engineering at Bill.com.