How is COVID-19 impacting B2B payment trends?
The payments industry is trending towards cashless and electronic payments along with the rise of eCommerce, mobile transactions, and more. In this past year, many companies have faced new challenges because of COVID-19 and need to transform their payment systems in the “new normal” of remote work.
Although the trend towards digital payments has been steadily increasing, the coronavirus pandemic of 2020 is accelerating the shift to a cashless society. Merchants of all kinds are asking not only how to adapt to the current needs of the market, but also what this means for their financial future. How will the events of this year affect 2021 and beyond?
In this blog, we will detail the implications for merchants in a cashless economy, the benefits for B2B businesses, and how omni-channel and digital payment solutions help maintain cash flow, increase efficiency, and save money.