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B2B Payments Are Going Digital and Getting More Personal
November 21, 2023
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The latest business-to-business (B2B) payments innovations are turning personalization into the gold standard of payment evolution. 

That’s what PYMNTS learned from some of the payments industry executives we spoke to for a new series, B2B Payments: Outlook 2024.”

Call it the commercial currency of convenience. 

The insiders told us that personal touches are increasingly transforming transactions into tailored experiences, helping drive end-user retention and customer lifetime value, even across B2B engagements traditionally defined by net terms and paper checks. 

After all, outside of the signature line there’s nothing personal about a paper check — and in today’s macro environment, just waiting for it to arrive and then clear can be nothing short of personally aggravating for businesses. 

But the rise of digital payments has brought with it a wellspring of new opportunities for businesses and payment ecosystem players to engage with their customers and optimize the relationships they have with their commercial partners, fostering stronger business relationships, and creating a seamless payment experience that all parties can be thankful for.

Particularly as behavioral — and generational — shifts reshape the B2B ecosystem, business customers are now starting to expect a similar level of digital ease, convenience, and visibility over their B2B payments as they get in their daily lives as regular consumers. 

Fortunately, the technology and innovation within B2B payments is already here to give it to them. 

Transforming Transaction Processes

“This is the first generation of digital natives, and they prefer digital payment methods over traditional ones,” Jacqueline White, president at i2c, told PYMNTS.

Taking B2B payments digital also brings the ability to make them personal. After all, millennial or even Gen Z decision makers expect to execute contracts and manage their business relationships with the help of digital innovations.

“All the innovation that’s happening in the consumer space will move into the B2B world, as well,” Anu Somani, senior vice president and head of global payables and embedded payments at U.S. Bank Global Treasury Management, told PYMNTS. 

While B2B transactions are historically much more complex than consumer transactions, the biggest problems frequently equal the biggest opportunities — and advances in cloud-based systems and other enterprise solutions are increasingly making integrating new B2B payment technologies into existing infrastructure setups easier than it has ever been. 

That includes things like providing a menu of payment options for buyers to make payment on, enabling a fully automated and streamlined reconciliation back to the supplier, and even leveraging emerging technologies like artificial intelligence (AI) chatbots for quick and convenient payments. 

Unlocking Growth by Modernizing

While paper checks, an 18th century invention (1762, to be exact), aren’t going away entirely any time soon, faster payments and improved communications between buyers and suppliers are already doing much to cut down the centuries of reliance businesses have built up around paper-based transactions.

“As 2024 dawns, we’ll likely see an increasing number of providers broaden their payments services for buyers to help hasten the shift away from the paper check,” Chris Wyatt, chief strategy and product officer at Finexio explained to PYMNTS. He projected that the use of virtual cards will proliferate and be tied to enterprise resource planning (ERP) and accounting software so that reconciliation is automatic and error-free.

“In general, business customers are no longer accepting of the clunky manual processes long associated with B2B accounts receivables,” Shawn Cunningham, managing vice president and head of Capital One Trade Credit at Capital One, told PYMNTS. 

Firms are reevaluating their payment processes, recognizing the strategic importance of adopting digital and automated solutions. 

PYMNTS Intelligence shows processing vendor payments is rife with friction, and exceptions have proven to be especially onerous. Nearly half of the finance teams surveyed said they spend hours responding to vendor inquiries on those exceptions. 

Ben Lamm, COO at Capital One’s Trade Credit Business, told PYMNTS in a separate discussion, “If you’ve equipped [an organization] with the tools to make customized purchasing offers in real time and reduced the friction for the buyer by giving them self-service capabilities backed by great customer service … all of a sudden, that little old AR program that was running in the background that hadn’t changed in years just became a really powerful growth lever.”

“Removing the manual element from having to process hundreds, thousands, tens of thousands of payments — having to manually post and reconcile these actions — that’s the area that needs a lot of focus [on innovation], because unless you can remove that manual process and the HR associated with it, you’re not going to get the type of adoption for digital payments that both buyers and suppliers want and need,” Dean M. Leavitt, founder and CEO of Boost Payment Solutions, told PYMNTS. “The payment piece is crucial for broader digitization at the enterprise level.”

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SUBMERGED CITY IN THE ATLANTIC👀

👉As Graham Hancock discusses in various places, perhaps this finding drastically effects our historical timelines. More evidence we have been lied to.

During a mission coordinated by Paulina Zelitzki and Paul Weinzweig, two Canadian explorers working in collaboration with the Cuban government, a sensational discovery was made.

The initial objective of the research was to locate colonial shipwrecks and underwater deposits in the area of the Guanahacabibes Peninsula, in the province of Pinar del Río, near Cuba. But the researchers found something they couldn't believe!

Off the west coast of Cuba, at a depth of about 650 meters, the researchers discovered artificial structures resembling buildings, roads, and even pyramids. It is a real submerged city.

According to the images from the bathyscaphes attached to this post, these formations are up to 400 meters long and 40 meters high. The sonar images showed large square blocks of stone, aligned in a consistent pattern, with structures ...

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Meridian Pay goes beyond our time in Rio. This wallet was designed with builders in mind, as the foundation for further innovation.

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🚨USDC is now LIVE on XDC Network 🚨

USDC, a fully reserved and regulated stablecoin, is now natively supported on XDC.

This integration brings powerful advantages:

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👉 Coinbase just launched an AI agent for Crypto Trading

Custom AI assistants that print money in your sleep? 🔜

The future of Crypto x AI is about to go crazy.

👉 Here’s what you need to know:

💠 'Based Agent' enables creation of custom AI agents
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👉 What this means for the future of Crypto:

1. Open Access: Democratized access to advanced trading
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The Great Onboarding: US Government Anchors Global Economy into Web3 via Pyth Network

For years, the crypto world speculated that the next major cycle would be driven by institutional adoption, with Wall Street finally legitimizing Bitcoin through vehicles like ETFs. While that prediction has indeed materialized, a recent development signifies a far more profound integration of Web3 into the global economic fabric, moving beyond mere financial products to the very infrastructure of data itself. The U.S. government has taken a monumental step, cementing Web3's role as a foundational layer for modern data distribution. This door, once opened, is poised to remain so indefinitely.

The U.S. Department of Commerce has officially partnered with leading blockchain oracle providers, Pyth Network and Chainlink, to distribute critical official economic data directly on-chain. This initiative marks a historic shift, bringing immutable, transparent, and auditable data from the federal government itself onto decentralized networks. This is not just a technological upgrade; it's a strategic move to enhance data accuracy, transparency, and accessibility for a global audience.

Specifically, Pyth Network has been selected to publish Gross Domestic Product (GDP) data, starting with quarterly releases going back five years, with plans to expand to a broader range of economic datasets. Chainlink, the other key partner, will provide data feeds from the Bureau of Economic Analysis (BEA), including Real Gross Domestic Product (GDP) and the Personal Consumption Expenditures (PCE) Price Index. This crucial economic information will be made available across a multitude of blockchain networks, including major ecosystems like Ethereum, Avalanche, Base, Bitcoin, Solana, Tron, Stellar, Arbitrum One, Polygon PoS, and Optimism.

This development is closer to science fiction than traditional finance. The same oracle network, Pyth, that secures data for over 350 decentralized applications (dApps) across more than 50 blockchains, processing over $2.5 trillion in total trading volume through its oracles, is now the system of record for the United States' core economic indicators. Pyth's extensive infrastructure, spanning over 107 blockchains and supporting more than 600 applications, positions it as a trusted source for on-chain data. This is not about speculative assets; it's about leveraging proven, robust technology for critical public services.

The significance of this collaboration cannot be overstated. By bringing official statistics on-chain, the U.S. government is embracing cryptographic verifiability and immutable publication, setting a new precedent for how governments interact with decentralized technology. This initiative aligns with broader transparency goals and is supported by Secretary of Commerce Howard Lutnick, positioning the U.S. as a world leader in finance and blockchain innovation. The decision by a federal entity to trust decentralized oracles with sensitive economic data underscores the growing institutional confidence in these networks.

This is the cycle of the great onboarding. The distinction between "Web2" and "Web3" is rapidly becoming obsolete. When government data, institutional flows, and grassroots builders all operate on the same decentralized rails, we are simply talking about the internet—a new iteration, yes, but the internet nonetheless: an immutable internet where data is not only published but also verified and distributed in real-time.

Pyth Network stands as tangible proof that this technology serves a vital purpose. It demonstrates that the industry has moved beyond abstract "crypto tech" to offering solutions that address real-world needs and are now actively sought after and understood by traditional entities. Most importantly, it proves that Web3 is no longer seeking permission; it has received the highest validation a system can receive—the trust of governments and markets alike.

This is not merely a fleeting trend; it's a crowning moment in global adoption. The U.S. government has just validated what many in the Web3 space have been building towards for years: that Web3 is not a sideshow, but a foundational layer for the future. The current cycle will be remembered as the moment the world definitively crossed this threshold, marking the last great opportunity to truly say, "we were early."

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US Dept of Commerce to publish GDP data on blockchain

On Tuesday during a televised White House cabinet meeting, Commerce Secretary Howard Lutnick announced the intention to publish GDP statistics on blockchains. Today Chainlink and Pyth said they were selected as the decentralized oracles to distribute the data.

Lutnick said, “The Department of Commerce is going to start issuing its statistics on the blockchain because you are the crypto President. And we are going to put out GDP on the blockchain, so people can use the blockchain for data distribution. And then we’re going to make that available to the entire government. So, all of you can do it. We’re just ironing out all the details.”

The data includes Real GDP and the PCE Price Index, which reflects changes in the prices of domestic consumer goods and services. The statistics are released monthly and quarterly. The biggest initial use will likely be by on-chain prediction markets. But as more data comes online, such as broader inflation data or interest rates from the Federal Reserve, it could be used to automate various financial instruments. Apart from using the data in smart contracts, sources of tamperproof data 👉will become increasingly important for generative AI.

While it would be possible to procure the data from third parties, it is always ideal to get it from the source to ensure its accuracy. Getting data directly from government sources makes it tamperproof, provided the original data feed has not been manipulated before it reaches the oracle.

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List Of Cardano Wallets

Well-known and actively maintained wallets supporting the Cardano Blockchain are EternlTyphonVesprYoroiLaceADAliteNuFiDaedalusGeroLodeWalletCoin WalletADAWalletAtomicGem WalletTrust and Exodus.

Note that in case of issues, usually only queries relating to official wallets can be answered in Cardano groups across telegram/forum. You may need to consult with specific wallet support teams for third party wallets.

Tips

  • Its is important to ensure that you're in sole control of your wallet keys, and that the keys used can be restored via alternate wallet providers if a particular one is non-functional. Hence, put extra attention to Non-Custodial and Compatibility fields.
  • The score column below is strictly a count of checks against each feature listed, the impact of specific feature (and thus, score) is up to reader's descretion.
  • The table represents current state on mainnet network, any future roadmap activities are out-of-scope.
  • Info on individual fields can be found towards the end of the page.
  • Any field that shows partial support (eg: open-source field) does not score the point for that field.

Brief info on fields above

  • Non-Custodial: are wallets where payment as well as stake keys are not shared/reused by wallet provider, and funds can be transparently verified on explorer
  • Compatibility: If the wallet mnemonics/keys can easily (for non-technical user) be used outside of specific wallet provider in major other wallets
  • Stake Control: Freedom to elect stake pool for user to delegate to (in user-friendly way)
  • Transparent Support: Easy approachability of a public interactive - eg: discord/telegram - group (with non-anonymous users) who can help out with support. Twitter/Email supports do not count for a check
  • Voting: Ability to participate in Catalyst voting process
  • Hardware Wallet: Integration with atleast Ledger Nano device
  • Native Assets: Ability to view native assets that belong to wallet
  • dApp Integration: Ability to interact with dApps
  • Stability: represents whether there have been large number of users reporting missing tokens/balance due to wallet backend being out of sync
  • Testnets Support: Ability to easily (for end-user) open wallets in atleast one of the cardano testnet networks
  • Custom Backend Support: Ability to elect a custom backend URL for selecting alternate way to submit transactions transactions created on client machines
  • Single/Multi Address Mode: Ability to use/import Single as well as Multiple Address modes for a wallet
  • Mobile App: Availability on atleast one of the popular mobile platforms
  • Desktop (app,extension,web): Ways to open wallet app on desktop PCs
  • Open Source: Whether the complete wallet (all components) are open source and can be run independently.

Source

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💳 PayPal: 
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XRP: r9pid4yrQgs6XSFWhMZ8NkxW3gkydWNyQX
XLM: GDMJF2OCHN3NNNX4T4F6POPBTXK23GTNSNQWUMIVKESTHMQM7XDYAIZT
XDC: xdcc2C02203C4f91375889d7AfADB09E207Edf809A6

 

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