[EBOOK] Top Five Trends in Global Payments 2017
Our global economy is becoming increasingly interconnected, and the demand for a frictionless and efficient cross-border payout solution has grown significantly. Today, many businesses need to pay people and partners that are located all over the world—but the technology to facilitate these international payouts is often decades behind the acquiring-side equivalents. Restricted ACH interoperability, limited transactional transparency… Despite the developments we’ve seen in other segments of the payments industry, global disbursements remain costly and complex.
Given the lack of innovation in cross-border payouts, most are still done using traditional methods: wires and checks. International wires are subject to tremendous fees, while checks are restrictive and consistently delayed. As the volume of worldwide payouts continues to increase, these antiquated payment processes continue to stand as a needless and frustrating impediment to global businesses.
Still, there’s reason for optimism in cross-border payout innovation. Over recent years, new players and disruptions have instigated change in many aspects of payments—and, although global disbursements have remain largely unchanged, these developments might signal that real payout innovation is on the horizon.
Better Cross-Border Payments
Everyone agrees that cross-border payouts need to more efficient, secure, and transparent. But what will it take to make that happen? How long until we have a global outbound payments solution that looks like what already exists in acceptance?Learn the key trends in cross-border #payments in this free eBook from Hyperwallet! Click To Tweet
Recently, Hyperwallet has spent a tremendous amount of time and resources examining the current worldwide financial landscape, searching for trends that might predict the future of cross-border disbursements. We’ve collected the results of that research in a new eBook, Top 5 Trends in Global Payments 2017, which outlines the key developments that we expect to drive innovation in global payouts into the next year.
Below is a teaser of some of the trends included in the analysis.
#1 – Demand for single, integrated payout solutions—a ‘network of networks.’
The future of B2B/B2C disbursements will be a network of networks that constantly adapts to technology innovation and evolving requirements—spanning banking, credit cards, mobile money, and digital payment platforms. More and more, CFOs and treasury teams will look for one simple solution that enables them to pay anyone, anywhere.
#2 – Desire for greater transparency at every level of the global payments value chain.
All the players in the global payments value chain have come to expect more transparency. In order for global payments to drive growth, solutions need the ability to track transactions throughout the entire payment process. Transparent pricing structures with real-time quote availability need to be put in place so customers can properly budget transactions.
Take a look at our predictions for coming innovations in outbound payments. Download Top 5 Trends in Global Payments 2017 now.