Corporate Flows B2B Payment Market Trends

There is a rapid evolution in the technology within the corporate and B2B payments segment. Technologies, such as Blockchain, Artificial Intelligence (AI) and Machine Learning (ML), are increasingly being adopted for security, transparency and efficiency of transactions, enhancing fraud detection, automating payment processes, and providing predictive analytics for cash flow management. It is particularly useful for cross-border payments, offering security, faster processing times, and reduced costs. Application Programming Interfaces (APIs) are enabling seamless integration of payment solutions with the existing ERP and accounting systems. This integration facilitates automation and real-time data sharing.

The use of digital currencies in B2B payments is on the rise as it provides speed, stability, transparency, and cost-effectiveness. In order to protect payment data from the increasing threats of cyber-attacks and frauds, businesses are investing in advanced security measures including multi-factor authentication, encryption, and tokenization. Integration of payment solutions with mobile phones provides flexibility and convenience. The COVID-19 pandemic has given rise to contactless solutions to minimize physical contact and enhance payment efficiency.

For instance, in May 2024, Worldline, a provider of payment services, partnered with Visa to launch a new virtual card issuing solution aimed at enhancing payment efficiency and security to meet the specific needs of the rapidly expanding Online Travel Agency (OTA) sector. Modern day technology, such as RegTech (Regulatory Technology), helps businesses by automating compliance processes with the complex regulatory landscape.