Travel was highly impacted as an industry during the pandemic, suffering a staggering loss of $4.5 trillion in 2020. After getting somewhat back on track, there was further disruption when the Omicron variant restarted the whole process of travel restrictions again. With the uncertainty of global events like COVID-19 still being felt, new digital payment … Continued
Customer experience has become the number one priority for business. Where once businesses may have focused more on products and services, they now know that all their hard work on these will not pay off if the customer experience of their brand isn’t up to scratch. A poll carried out by PwC has found that … Continued
It’s in everybody’s interest that payment transactions are as frictionless as possible, but many commonly used payment systems carry unnecessary layers of complexity. For an example, let’s take a look at Open Loop payments. Because Open Loop cards tend to be general purpose and widely accepted, they seem a great way to ease the process … Continued
Having explored the challenges that currently face global B2B payments, it’s time to consider possible solutions. Here are four major examples of how innovative B2B payments platforms can help businesses overcome obstacles that have previously held B2B payments back: Global connectivity of B2B payment platforms can help make international payments efficient As globalisation and outsourcing … Continued
Over the last decade it’s become apparent that the mid-market is an important growth driver of the global business payments market. Medium-sized companies – with a value between $50 million and $1 billion – are engaging in more business to business (B2B) commerce than ever before, and their needs and expectations have begun to reshape … Continued
Global business to business (B2B) cross-border payment transaction values are predicted to exceed $150 trillion by the end of 2022, representing a substantial chunk of the payments market. But even though they are a significant driver of worldwide economic activity, actually making global payments is frequently a complex process, fraught with challenges. In particular, payments … Continued
Whether it’s the Global Financial Crisis of 2008, the startup revolution, or the Covid-19 pandemic, recent international events have seen the payments industry evolve faster than at any other time in the last century. The world after Covid-19 is ripe for innovation in the payments space, and here are six trends we at Nium see … Continued
The Covid-19 pandemic has irreversibly changed payment behaviours. The rise in digital payments and resulting facilitation of international transactions are undeniably good things, but without consistent, global infrastructure to support this shift, payment systems will lag, and businesses will lose money. Here are three ways infrastructure can change to catch up with the advances we’ve … Continued
With the unprecedented upheavals of the Covid-19 pandemic, the significance of digital financial services for individuals, businesses, and entire economies became more apparent and pressing than ever before. During the darkest days of 2020, digital payments were of near-existential importance for people around the world, and that forced governments to recognise that the regulatory frameworks … Continued
The Covid-19 pandemic has seen a massive acceleration in the adoption of digital payments. In what McKinsey called “The Quickening,” US e-commerce penetration saw a decade’s growth in three months during the pandemic, instigating a sea change in how customers order, pay, and interact online. As more and more businesses and customers turn to digital … Continued