FINANCIAL SERVICES
R PAYMENTS NTEGRATION
Cross-border payments will soon be seamlessly integrated with other fintech services , such as open banking and embedded finance
WRITTEN BY : JOANNA ENGLAND
Consumer behaviour is changing and , with it , requirements regarding the efficiency of the payments space . This places additional strain on B2B finance as vendors and merchants opt for streamlined methods and businesses must keep up with the trend .
But B2B transactions – particularly those that require crossborder flexibility – are complicated by the different international regulations governing and securing financial transactions . In an ever-changing and developing industry , where speed and agility of transaction are paramount , the challenges are vast .
According to a recent study by Rapyd on digital transactions in Europe , the international payments space has a raft of fresh demands . For example , in Denmark , 71 % of respondents reported a recent online purchase using Danish mobile payment apps . Alongside this , only 5 % of Germans chose credit cards as their top online payment method , while more than two-thirds of Spanish spenders said they used PayPal for a recent online purchase .
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