The global B2B payments industry seems to be highly fragmented, with a lack of clear vendors holding the lion’s share in the market. The advent of new payment solutions has now become mainstream and gaining a competitive advantage over competitors. Changing customer preferences and the growth in the number of digital B2B channels are indicative that customers are less likely to use branches for routine transactions.
B2B Payments: Is Cash Still a King or Now is the Time for Digital Payments?
AIKey Takeways
- The B2B payments industry has witnessed a sudden change from the year 2020 to now.
- Some major vendors operating in the digital payments (b2b) industry are MasterCard, Inc., PayPal Holdings, Inc., Visa, Inc., and Fidelity Information Services, Inc. (FIS).
- Most banks are now looking at alternative approaches to enlarge their footprint.
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