B2B Payments Reimagined at Money2020 Europe

We’ve thoroughly enjoyed learning from the discussions and insights shared at Money2020 Europe this week. Here’s a fun and fresh take on the transformative ideas presented.

Morning on the Na.i.ture Stage, on day 2: Despite tech innovations, B2B payments are still clunky. Callum Burroughs from Business Insider led a lively discussion on how automation could revolutionise customer experiences.

Seamus Smith from FIS: “AI and machine learning are the future for B2B payments, but we’re just getting started. It’s powerful but needs careful handling by the industry.”

Emma Hagan from ClearBank: She highlighted the regulatory contrasts: “Europe’s regulations are clear thanks to MiCA, fostering innovation. The UK, however, is still catching up.”

Payments as a Priority: Meeting customer expectations was a hot topic.

Sameer Kurani from J.P. Morgan: “Payments should be simple and optional. They’re no longer just the final step but a tool to drive revenue and customer retention through services like subscriptions.”

Johan Strand from Zimpler: “Businesses think globally from day one. Payments, though, are becoming hyper-local, tailored to niche markets.”

Bono van Nijnatten from ASOS: “AI will soon personalize checkouts, understanding each customer’s desires.”

Partnerships in Payments: Claire Woffenden moderated a chat with John Gutch from BT Group and Alexa von Bismarck from Adyen about enabling small businesses with Tap to Pay on iPhone.

John Gutch: “Partnerships should feel like one team working together. It’s all about focusing on the customer experience.”

Alexa von Bismarck: “Small businesses can now attract new customers by meeting their payment preferences. With 27% of customers not carrying a wallet and 55% abandoning carts if their preferred payment method isn’t available, enabling diverse payment options is crucial.”

The future of B2B payments is bright, and as these insights show, innovation and collaboration are key. While we couldn’t be there in person, we’re excited about the possibilities and the ongoing evolution in the payments space. Here’s to embracing change and driving forward with new technologies!

At DPG are always keen to stay updated with industry trends and insights. If you found this summary as engaging as we did, feel free to connect and share your thoughts!