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With its solution designed to address friction in supplier commercialcard acceptance, Nium ‘s InstaReM brand announced the expansion of BizPay into a new market: Australia. It’s a mixing of payment rails that aims to overcome one of the largest barriers to commercialcard adoption.
It’s a stark contrast from its historical high of 81 percent in 2004, analysts noted, and suggests checks are steadily declining within corporate payments. The AFP’s report was released the same week a range of new electronic B2B paymenttools were announced, the latest in a deluge of digital payment solutions emerging in recent years.
As businesses continue this shift, it is no longer safe to assume that corporates are not interested in faster payments. Beyond the Payment. Banks’ ability to be empowered through data can occur in other ways beyond API integrations, though.
Speaking with Karen Webster just ahead of the launch of Visa B2B Connect earlier this summer, Phalen noted the functionality under the hood of B2B paymenttools is just as important as what lies on the surface.
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