These statistics dramatically illustrate how consumer demands — and the supply chains that fulfill them — have shifted in just a matter of months. Consumers and businesses today are going online to find products, services and suppliers to an unprecedented degree. To meet these shifting demands, companies must develop stronger and more efficient cross-border and digital commerce operations.
PYMNTS’ latest research report, The Mastering Multichannel Commerce Playbook: Digital Payments And The Road To Growth, lays out the shifting dynamics of digital commerce — and how corporate treasurers and other finance leaders can best leverage them. The second in a series, the Playbook focuses specifically on how effective and efficient back-office payments processes are essential to adapting and thriving in a challenging global economic environment.
These circumstances have brought the importance of agility and strategy to the fore for many corporates — and they have magnified the toll inefficient and outmoded payment processes can take. The average multinational firm works with six separate banks and six currencies. These complexities can generate many points of friction, including the varying operating hours of foreign banks, the challenge of working through multiple payment intermediaries and heavy fees. These create new urgency for corporates to connect to instant 24/7 payment networks like RTP and ensure that they can meet the unique challenges of running effective eCommerce channels, including regulatory compliance, security, and driving conversion.
To learn more about the trends and technologies transforming global commerce, download the report.
About The Playbook
The Mastering Multichannel Commerce Playbook Digital Payments And The Road To Growth, a collaboration with Citi, examines how digital technologies enable companies to forge stronger relationships with consumers, business customers and suppliers.
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