FedNow – the Federal Reserve’s new instant payment service – went live earlier this summer, and it could signal big changes ahead for B2B payments. Why? It comes down to data. B2B payments are rife with data challenges. In my last post, I described that the funds...
B2B payments keep commerce moving, but B2B transactions can be incredibly painful for both senders and receivers. Check usage remains stubbornly high in the B2B space, even post-lockdown. Manual processes abound. So what makes B2B transactions so difficult, even as...
Despite decades of payment industry efforts, businesses have remained stubbornly dependent on checks. Back office processes (and personnel) can be remarkably change resistant despite being mired in paper, regardless of the size of the business. At Glenbrook we...
The always-interesting Federal Reserve Bank Chicago Payments Symposium just closed, and predictably, a lot of the discussion (and argument!) was around “faster” – the evolving progress of the United States towards improvements in our payments systems. I was...
I just attended NACHA’s Council for Electronic Billing and Payments and I've come away with an even firmer opinion that this payments business I’m in isn't about payments. It’s about data. A retail payment transaction has the potential to throw off a lot of...
As globalization increases, businesses of all sizes buy goods and services from overseas suppliers and turn to new customers in overseas markets to drive growth. As a result, the demand for cross-border transactions steadily increases. The vast majority of these...
NACHA recently announced plans for a phased introduction of same-day settlement for ACH. I spoke with NACHA President and CEO Jan Estep this morning about the initiative. First of all, I congratulate Jan – and the ACH community – for picking up the fallen banner,...
I’ve nearly recovered from the payments overload that was Money2020 last week in Las Vegas – it was initially exhilarating, then incredibly exhausting, but I had a fantastic time. Here’s my admittedly subjective take based on having attended only two sessions (one...
I am in London this morning, where I had an opportunity to present a vision for the future of business payments at Experian's Payments Strategy Conference 2013. Acknowledging that it is always dangerous to make predictions, this is what I envision for the future of...
Recently Ariba/SAP and Discover announced that they intend to “transform” commercial payments. AribaPay is either the most significant B2B payments news in decades or just one more courageous entrant into the discouraging battlefield of B2B payments networks. We’re...
