With the current state of economic upheaval, the ongoing pandemic and the great digital shift, corporates and financial institutions are racing to digitize and modernize payment flows and back-end processes. But the transition is one that must consider, and maybe even embrace, several emerging options and payment rails in a bid to move data and money more quickly across borders, and move, decisively, away from paper checks.
As part of the PYMNTS month-long series on modernizing and digitizing B2B payments, Alan Koenigsberg, global head of new payment Flows at Visa New Business Solutions and five executives from payments and messaging networks, services providers and the crypto realm said room exists for several payment rails to compete, coexist — and even complement one another.
