B2B payments are stuck in the past. Cumbersome processes rule the roost, with problems including a high level of failed payments, and high amounts of admin.
In fact, nearly half of all global business transactions – $58 trillion in 2016 (Oxford Economics, Euromonitor International, Kaiser Associates, McKinsey Payment Data, Mastercard) - are still done on paper.
But what does the future of payments look like for the industry?
This new article from GoCardless takes a closer look at the state of B2B payments, with insights and comment from industry peers and business owners. In it, they share their thoughts on the current B2B landscape and discuss approaches to fixing payments in the industry.