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Payment technology innovation over the past decade was mainly focused on consumers to remove friction and make payments invisible. This approach has prioritized additive innovations that build more layers and complexity into the payments fabric. Now, the world of payments is increasingly complex; billions of customers pay millions of firms using hundreds of payment methods. Something must give.
If the last decade was all about consumers, the next belongs to B2B payments. Rather than a bewildering array of payment options at checkout, components that simplify the presentation of payment methods will thrive. Frictionless solutions that automate B2B payments will offer greater insight or open access to new customer segments. But key learnings know the future focus will make the next wave B2B innovation different. The focus will shift to embedded payment technology (not payments) and mitigating complexity. Alleviating friction will be rooted in making payments simple, re-bundling capabilities to offer both horizontal and vertical solutions and capitalizing on networks.
In this session, featured speaker Jacob Morgan, Principal Analyst from Forrester will share how companies can get ready today for the future of B2B payments and the massive opportunities it presents from analysis of his latest research.
A fireside chat with Brandon Spear, CEO of TreviPay, and Adam Coyle, CEO of Digital River, will cover:
- The unique requirements of B2B buyers
- How to build the capability for B2B embedded payments and the costs and complexities that can arise
- Why instant decisioning and credit are key to B2B buyers and will help merchants attract buyers and build loyalty
- How to get to 100% digital AR and onboarding
- The rise of B2B ID theft and how to protect the organization
- What a future-proof B2B payments strategy must look like and adapting to our cross-border world
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