Treasurers in business-to-business (B2B) sectors can no longer write off real-time payments as ‘only fit for consumer industries’. Value limits are increasing and usage is trending upwards [1] [2]. What’s more, innovation is bringing added value – ranging from request-to-pay to confirmation of payee services and embedded real-time foreign exchange solutions. Two experts from Barclays Corporate Banking explain how treasurers can take advantage of instant payment innovations across Europe, leading towards the broader trend of real-time treasury.
As of January 2021, there were 3.96 billion social media users across the world [3]. That’s roughly equivalent to half the global population. One of the main growth drivers of these platforms is their ability to connect people in real time, with follower numbers and instant reactions becoming similar to a new currency.
Similarly, music and television services have shifted to provide content on demand, 24/7/365. In this always-on consumer landscape, e-commerce is also having to keep pace with the immediacy of ‘real time’ demand. The world of finance is no different: online banking can be performed anytime, anywhere through apps and portals. And now payments are also starting to live up to this instant ideal.
Daniela Eder
Head of Payments & Cash Management Europe, Barclays Corporate Banking
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