The last decade has seen an unprecedented emergence of new payment technologies, methodologies and regulations – gaining speed and traction at a rapid rate, especially in the last few years. With payments being made in real-time, on mobile devices and with open APIs, it can be dizzying to stay on top of recent developments let alone imagine what the future will bring. That’s where payments thought leaders come in.
PYMNTS.com recently surveyed 29 prominent C-level executives in the business payments industry to get their thoughts on payments innovation over the last decade and find out what they think the impending 2020 decade holds because after all, it’s less than 6 months away…
Starting with a look back, the executives were asked what they think is the most important B2B payments innovation from the 2010s and how they think it will impact 2020 and beyond. As you can imagine, answers spanned a number of different topics from changing consumer expectations to faster payments to AI deployment – in fact, the one constant appears to be that when it comes to payments innovation, there really ISN’T a constant, it’s an ever-evolving landscape of change.
Consider what Rob Eberle, President and CEO of Bottomline Technologies, had to say about the consumerization of business payments, “The iPhone is the single biggest driver of change in business payments in the past 10 years. Digital transformation is driven by customers’ expectations and habits as much as or more than it is driven by technology. The iPhone profoundly changed the expectation of consumers and the manner in which we all conduct our lives.”
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