B2B payments are huge. Taken together, these supply chain payments exceed the gross domestic product. But supply chain payments remain an imperfect art. While consumers pay for one purchase at a time, a B2B payment may cover multiple invoices, each with different commercial terms. Given the amount of data about the payment that’s necessary to crisply communicate between a buyer’s accounts payable department and a seller’s receivables group, it’s no wonder paper checks are still in broad use.
While B2B payments have been resistant to “electronification,” the cloud, the mobile user interface, a new data standard (ISO 20022), and APIs into banks and payment schemes are enabling a renewed effort to streamline B2B payment transactions. B2B payments are hot.
Join Erin McCune, partner in charge of Glenbrook’s B2B practice, and George Peabody as they discuss:
- How B2B payments are different from consumer payments
- Why B2B is “hot” once again
- What market forces are pushing B2B forward
- Why Faster Payments in the U.S. and around the world could have a major impact on supply chain payments
George, founder of Glenbrook’s Payments on Fire® podcast, is a 20-year payments industry veteran with a background in founding and running IT-based businesses to help clients develop payments strategies. During his 10 years at Glenbrook, George focused heavily on consulting in competitive positioning, technology investment road mapping, and innovation. Before joining Glenbrook, George led teams at Aberdeen Group, Mercator Advisory Group, and several other companies he founded, including Payment Pathways, RapidNet, and DigiFlite. George retired in 2024, but his contributions to Glenbrook live on through the 175+ episodes of Payments on Fire he recorded during his tenure.