Every monetary transaction is followed by a payment transfer between parties, whether that's B2C, P2P, or B2B. Business-to-business payments are for transactions between businesses and corporations. B2B payments tend to involve high-volume, high-value repetitive transactions using processes that can take a significant amount of time. B2C transactions are fast and easy to execute. While the industry has been around for a long time, digital developments over the last 20 years have significantly changed the way payments are executed.
Key learning objectives:
Understand what B2B payments are
Examine some of the ditigal developments in the B2B space
Outline some key industry trends