Commercial Payment Trends: How Business Payment Methods Are Changing

While payment methods are becoming smarter and more sophisticated, the adoption rates among these newer channels are more nuanced.

December 6, 2022 – The payments landscape is increasingly crowded, as legacy payment channels linger. While newer payment tools may receive the most hype, businesses continue to need legacy tools since omitting them from their existing workflows is simply not an option. At the same time, the ongoing pandemic has undoubtedly accelerated many existing payment trends and the ongoing shift to newer payment forms. For financial institutions and payment providers, understanding the lived experience and ongoing needs of businesses is critical in offering them a compelling and ultimately functional payment offering.

This report is based on end-user data that provides an up-to-date look at how businesses pay and how this may change in the near future. It is also based on an online survey of 790 employees of midsize and large corporations in seven countries (Canada, France, Germany, Italy, Spain, the U.K., and the U.S.) that Aite-Novarica Group undertook in Q2 2022.

Clients of Aite-Novarica Group’s Commercial Banking & Payments service can download this report and the corresponding charts.

This report mentions Apple, Bizum, CBI, Early Warning Services (Zelle), Google, Interac, Mastercard, Paylivre, Paym, Payments Canada, PayPal, SWIFT, The Clearing House, TransferMate, UK Pay, and Visa.

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