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Digital transformation = B2C/B2B payments + ecommerce + payments platform + Big Data + IoT + APIs + automation => future of paymentsWith almost every industry webinar you attend or article you read you encounter the word ‘digitalisation’, or more precisely ‘payments digitalisation’. Far from being just a buzz word, payments digitalisation is a historic moment happening now in the world of payments, both for business to consumer (B2C) and business to business (B2B) transactions. And if historically, B2B payments have lagged when it comes to innovation (e.g. manual reconciliation for invoices, lack of payment methods, paying by checks, etc.), current trends have forced companies to modernise how they conduct business with their buyers.
B2B commerce payments digital transformation accelerators
Businesses and industries are evolving digitally and when talking about B2B payments one needs to observe the whole ecosystem interconnected. For instance, when making a purchase, millennials expect their experiences with B2B ecommerce to be as seamless as consumer ecommerce. According to the BNP Paribas Global Entrepreneur Report, millennials are starting their first business around age 27, which is 8 years younger than their counterparts in previous generations. Furthermore, millennials have launched about twice as many businesses as their baby …
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