ABA Banking Journal - October 2012 - (Page 22)

tech topics PAYMENT SYSTEM B2B pay: quiet innovation No flashy P2P payments here, but steady movements to electronic payments and better integration of payables and receivables By Lisa VaLeNtiNe, coNtriButiNg editor 22 | ABA BANKING JOURNAL | october 2012 Photo: NoreBBo/shutterstock.com I f payments had a personality, business-to-business (B2B) payments would be an introvert and consumer payments would be the life of the party. While innovations in consumer payments such as person-to-person (P2P) and mobile tend to attract media attention, much is quietly happening in the B2B payments space. (See “Payment Innovations: Are you in?” in the July digital issue for more information on consumer payments. Go to http://tinyurl.com/bj-payments). Today, small business and corporate payment innovations are bubbling up from both consumers and small businesses, whereas traditionally they have trickled down from large corporate customers, according to Bob Reitz, managing director at $63 billion-assets BBVA Compass. “Consumers and small businesses are transforming how our corporate customers consider payments,” he notes. Small-business and corporate B2B payments is an area that is ripe for innovation, since businesses are still heavily reliant on checks, unlike consumers who have largely abandoned paper, explains Tom Berdan, vice-president of product management at Harland Financial Solutions. Harland sees a strong market for direct electronic billing and presentment for small and mid-sized businesses. http://www.tinyurl.com/bj-payments

Table of Contents for the Digital Edition of ABA Banking Journal - October 2012

ABA Banking Journal - October 2012
Contents
Chairman’s View
Editor’s Column
The Economy
Bank Notes
Picture This
Ag bank rebrands—literally
Pass the Aspirin
Tech Topics
Ready for the leadership ride
Community Bank Survival: Matter of attitude?
Card biz: Playing the hand you’re dealt
ABA At Your Service
100 years of service to farmers
Compliance Inbox
Legal Issues
First Person

ABA Banking Journal - October 2012

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