Consumers order groceries online and receive an immediate confirmation. Shoppers see an ad for a shirt and order it with a few clicks. A money transfer app can send to a friend via a mobile device, within seconds.
With instant access permeating every aspect of consumer life, people now expect the same rapid speed and smooth experience in business-to-business payment technologies. But the reality is that most B2B payments are slow, cumbersome, and unintuitive, highlighting the need for change. Surprisingly, while consumers operate in an instant reality, businesses are often burdened with mailing paper checks, waiting for slow ACH payments, and making costly international payments.
