Payment innovation Questions to ask yourself

The last decade has seen a revolution in digital payments, with treasurers striving to make the payment process as smooth as possible in order to develop robust global payment strategies.

By leveraging instant payments, organizations can seamlessly create a new payment experience for customers, while allowing treasurers to launch initiatives without the need to build new payment tools from scratch or have to modernize yesterday’s solutions for today.

If you are wondering if your organization is ready for this type of innovation, ask yourself these four questions:

1) As treasurer, do I benefit from transparency in all cross-border payment processes?

Using multiple payment services can often place limits on transactions, currency, regulatory compliance, and liquidity visibility for treasurers, compared to using a single cash management tool.

2) Is our cross-border payment solution able to address important concerns such as cost, speed or regulatory compliance, regardless of region?

For a cross-border growth strategy to be sustainable, it needs a payment option that can tap into a trustworthy banking network or a trusted cash management solution to ensure that the payment process works efficiently.

3) Do our B2B and / or B2C customers benefit from a simple, intuitive and fluid payment process?

Your customers value consistency. By simplifying payments for all customers and in all business relationships, treasurers can spend more time managing risk and providing ongoing support for long-term growth strategies.

4) Is our organization ready for the growth that will be driven by Instant Payments?

With innovation comes new obligations in terms of customer experience. Businesses with a global reach need reliable payment methods to perform B2C, B2B and B2B2C transactions transom. Failure to deliver consistent performance in this area can mean negative user experience and the ultimate loss of customer loyalty.

To learn more about how your business can use real-time payments to drive sustainable global growth, download your copy of Mapping the Future of Global Trade Handbook, a PYMNTS /Citi collaboration.

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NEW PYMNTS DATA: AUTHENTICATION OF IDENTITIES IN THE DIGITAL ECONOMY – DECEMBER 2021

On:More than half of American consumers think biometric authentication methods are faster, more convenient, and more reliable than passwords or PINs, so why are less than 10% using them? PYMNTS, working with Mitek, surveyed over 2,200 consumers to better define this perception gap in usage and identify ways in which businesses can increase usage.


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