B2B Payments

Is The ‘Payments Revolution’ Upon Us?

While technological developments are pushing businesses across all sectors to potentially change their payments options, a recent survey by Reval shows that it’s too early to call it a revolution.

According to a survey of 160 financial professionals, only 18 percent are implementing payment factories or shared service centers. However, 93 percent of respondents said that they have strategic payments initiatives on their agendas for this year.

Reval Director Günther Peer explained in a company release that treasury pioneers have already started leveraging SEPA to implement more sophisticated payments concepts. While Peer said that it’s only a matter of time before others follow suit, the pace of the “payments revolution” will really depend on how the technology is adopted.

“A SaaS-based treasury system could provide a flexible, independent solution for bypassing a fragmented payment infrastructure. SaaS technology would easily integrate and streamline a corporate´s global payment processes within only a few months,” Peer said.

The survey also showed that 66 percent of the financial professionals interviewed are currently planning investments in new payments technology.

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