Four Questions to Ask About Instant Payment Innovation 

The past decade has seen a revolution in digital payments, with treasurers working to make the payment process as frictionless as possible to develop robust global payments strategies. 

By leveraging instant payments, organizations can seamlessly create a new payment experience for clients, while also letting treasurers launch initiatives without needing to create new payment tools from scratch or having to retrofit yesterday’s solutions for today. 

If you’re wondering whether your organization is ready for that sort of innovation, ask yourself these four questions:

1) As treasurer, do I enjoy transparency across all cross-border payments processes? 

The use of more than one payment service can often put limits on transaction, foreign exchange, regulatory compliance and liquid visibility for treasurers, compared to employing a single treasury management tool. 

2) Is our cross-border payments solution able to address important concerns like cost, speed or regulatory compliance, no matter the region? 

For a cross-border growth strategy to be sustainable, it needs a payment option that can tap into a trustworthy banking network or reliable treasury management solution to make sure payments process function efficiently. 

3) Do our B2B and/or B2C customers enjoy a simple, intuitive and frictionless payments process? 

Your clients value consistency. By simplifying payments for all clients and across all business relationships, treasurers can devote more time to risk management and to providing ongoing support for long-term growth strategies. 

4) Is our organization ready for the growth that will be drive by instant payments?

With innovation comes new customer experience obligations. Businesses that have a global reach require reliable payment methods at hand to carry out B2C, B2B and B2B2C transactions. Failing to provide consistent performance in this area can mean a negative user experience and the ultimate loss of customer loyalty.

To learn more about how your business can use real-time payments to power sustainable global growth, download your copy of Mapping The Global Commerce Future Playbook, a PYMNTS/Citi collaboration.