During CPI (Commercial Payments International) Global Summit in New York at the end of 2024, Greg Toussaint (Director, Paris) moderated a panel discussion on the topic of digital payment transformation journeys and consumerisation of B2B Payments.

The participants of the panel discussion were the following:

• Viviane Sabat, Senior vice president, product development, Mastercard

• Rima Ghose, Head of digital for commercial cards, Citi

• Marcos Gelfi, Global head of commercial products, cardholder services, fraud & disputes, Discover Global Network

• Jørgen Christian Juul, CEO, Cardlay

The panel discussion first tackled the topic of the latest trends in B2B payments and fintech innovation. Embedded payments with payments becoming seamless were highlighted as a key use case with significant growth, while connectivity, servicing clients more easily and reconciliation were identified as key aspects payment providers should consider. The distribution of cards – and in particular virtual cards – was considered a key enabler of different use cases of B2B payments (e.g., card on file, card for revolving credit).

This results in different impacts on Accounts Payable (AP) and Account Receivable (AR) processes. When considering AP, the focus is on smooth UX targeting AP processes including invoice processing and the integration of payments within B2B platforms. It is also important to consider AR and the challenges related to payment acceptance such as the breadth of acceptance network size and number of acquirers processing commercial card transactions as well as key aspects such as integration with B2B platforms, automated and efficient workflows and pricing / cost of payment acceptance supported by suppliers.

The panel then focused on the evolution of the digital B2B payments journey, taking into account the use case of BillPay on the AR side. The consumerisation of B2B payments – mirroring smooth digital B2C payments – requires B2B platforms and payment providers to focus on the customer experience with a smooth UX and offer a range of services meeting the needs of both SMEs and corporates (e.g., virtual cards, B2B BNPL, financing, FX capabilities). Digital B2B payments indeed include a variety of key use cases including B2B e-commerce, B2B marketplaces, B2B cross-border payments and supply chain finance.

All panelists agreed B2B payments will significantly grow in the coming years and it represents a significant opportunity to be seized by major actors in the value chain.

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