Ecosystems
Existing Payments Ecosystems
Who are the players and where do they fit in the payments space.
B2B Payments
Observations:
- B2B payments TAM is much bigger than B2C
- B2B payments still utilize paper invoices & checks (account for 60% of B2B payments still)
- 81% of businesses still use paper checks in NA
- Current momentum in trends below is driving B2B digital payments adoption (in US and abroad):
- RTP offerings
- Open Banking & E-Invoicing driven by EU regulation
- Better workflow integration (ERP systems, etc)
- Covid boosted interest in electronic payments
- 40% of CFO’s are planning to accelerate automation
- Improving cost saving and other operational efficiencies:
