| Banks To Open Up To FinTechs For X-Border B2B Payments Improvements
The cross-border B2B payments space hit an $18.5 trillion valuation last year, yet the industry is marred by a lack of transparency, high fees and slow transfer times. TransferMate CEO Terry Clune offers PYMNTS his predictions for the space in 2018, and his eye is fixed on the willingness of traditional banks to open up their systems and data to FinTechs. Plus, we take a look back at some of the biggest stories of the year in global B2B payments.
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| A Look At The Most Telling Statistics In B2B Payments This Year
Sometimes, stories are best told in numbers. This year, small business optimism retained its strength on the promise of a new president and SMB-friendly regulations. Paper checks remained prevalent in B2B payments, of course, but the industry is beginning to anticipate a slowdown in favor of electronic payments. And the rollout of Same Day ACH made a less-than-stellar impact in the B2B world. PYMNTS takes a look at the data behind these stories.
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| | Open Banking | | Open Banking Plans For A Big Year â Even Where Regulators Arenât Forcing It
Open banking is permeating financial services markets around the globe, and regulations like PSD2 will make 2018 the year of data sharing. PYMNTS takes a look at how banks, FinTechs and SMBs are preparing, and speaks with executives from Payment Rails and Token Inc. about their predictions for open banking in the new year. Even in markets in which regulators arenât forcing it, they said, open banking is headed for a very big 2018. Read More... |
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