Payments

While companies may already have technology in place that supports efficient payments and collections in their home region, treasurers and finance managers need to reflect the diverse and evolving payment and collection demands of customers and suppliers in each market, says Standard Chartered's Tarek Elyafi.

It could take years for the air travel industry to recover from the pandemic, but some of the airlines' responses could fuel other payment streams.

Many of the changes on the horizon were inevitable, but the pandemic has accelerated the shift to digital payments and finance, forcing banks to reevaluate their models and pivot toward faster technology adoption.

Business-to-consumer payments are rapidly shifting to digital channels, replacing paper checks with a variety of instant-payment methods for gig work and corporate reimbursements.

FIS' purchase of Worldpay in 2019 required Ellyn Raftery, the company's chief marketing and communication's officer, to reshape its brand to showcase the strengths of both companies — all while a major global pandemic hastened her timeline.

American Express is fine-tuning the credit options available to small-business owners squeezed by coronavirus and the economic slowdown.

CO-OP, a credit union payments firm, has teamed with the fintech to expand usage of digital payments offerings. But it's unclear to what extent members want those services.

Transfiya, a blockchain-based funds transfer system, is transforming payments in Colombia for the benefit of underbanked and financially excluded consumers.

Finding a balance between short and long-term needs is the main goal for future-focused leaders, said Tipalti's Chen Amit.

Baptist Memorial Health Care in Memphis, Tenn., is among the first to enable real-time payment posting into Epic systems and a single deposit that reconciles daily with the Baptist Memorial system.