ADDRESSING THE B2B OPPORTUNITY

Five fixes for frictionless cross-border payments

Calling B2B cross-border payments big business is an understatement – the market is projected to rise to $111 trillion by 2027 from $88 trillion in 2022.¹
Clive Cornelius and Edward Galvin

But despite such high value, issuers using traditional payments processes often struggle to deal with complex cross-border transactions.² Why? Because they rely on corresponding banking relationships where costs, payments and delivery timings are unclear – with fraud risks and regulations further compounding the uncertainty.

However, by combining the latest technology with expert guidance, issuers can simplify the process, address compliance concerns, and consumerize cross-border payments with intuitive platforms B2B customers find easy to use.

With that in mind, here are five fixes for frictionless cross-border payments.

Conclusion

The cross-border payments landscape has long been convoluted and confusing for intermediaries, but real-time payments and virtual cards are calming the chaos by enabling swift, secure, and compliant global transactions. And as B2B payments become increasingly intuitive, simplicity is fast becoming the ultimate sophistication.

More articles in this series

About the authors

Clive Cornelius, Head of Large & Middle Market, Visa Commercial Solutions, Europe.

Clive Cornelius

Head of Large & Middle Market, Visa Commercial Solutions, Europe

Edward Galvin, Head of Large & Middle Market Commercial Payments Sales, Visa Commercial.

Edward Galvin

Head of Large & Middle Market Commercial Payments Sales, Visa Commercial Solutions, North America

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  1. Visa, Introducing Visa Cross-Border Solutions,2023
  2. Visa, Delivering simpler, more transparent B2B cross-border payments, 2019
  3. Javelin Research, Commercial instant payments and the need for speed, 2023
  4. Visa, Visa and Swift Team up to Enhance Transparency, Speed and Security in Global B2B Money Movement, 2023
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  12. Visa, Visa Inc. and JP Morgan Chase Forge Strategic Alliance, 2024
  13. Visa, CB International Bank and Visa work together to Revolutionize Cross-Border B2B Payments, 2023