Azlo Provides A Digital Banking App For Freelancers, Startups And E-Commerce Users
#Azlo, which calls itself the first #digital #banking platform for business, is a fee-free business bank that is part of BBVA.
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dLocal Supports E-Commerce In Emerging Markets
Big e-commerce merchants are excellent at design, sourcing and marketing but they don’t necessarily want to get into the payments in #emerging #markets. #dLocal makes that its business.
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Expanding E-Commerce Keeps Attracting Fraudsters, Forter Finds
#Forter‘s semi-annual report on fraud shows some surprising shifts in growth categories.
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eCommerce portals: The grand B2B convergence
For decades, business-to-business (B2B) commerce has relied on a broad array of organizations, such as trading partners and third-party payment and reconciliation facilitators, to complete any given purchase of goods and services. These organizations have been stitched loosely together by postal mail, telephones, computers and email, as depicted in Figure 1.
Figure 1. Illustrative Elements of a Traditional Paper-Based Payments Transaction
Source: Accenture Payments research. Click/tap image to view larger. Historically, innovations have automated selected components of the above transaction process, but not necessarily allowed for process #convergence. For example:
- Distributed walking plastic purchasing cards automate step 3 for buyers and suppliers. However, the related transaction may still rely on completion of the other steps. As a time-saving feature, purchasing cards have been promoted as a way to avoid steps 2 and 4 above—by presenting a card for payment at the outset of step 2 when goods or services are received. Many buying organizations have, therefore, been reluctant to allow purchasing cards for transactions above a few thousand dollars (in other words, transaction limits).
- ePayables solutions (also known as virtual cards) have progressed further than purchasing cards as providers have supported directly, or through implemented integrations, automation of steps 2 through 5 above. However, the purchasing process has often been decoupled from payments, resulting in what can be a very manual and intensive supplier enablement campaign process. Furthermore, while ePayables integration for buyers can often dramatically reduce process time and cost, ePayables often present a manual payment acceptance process for suppliers—due in part to the proliferation of disparate, non-compatible ePayables solutions.
#eCommerce marketplace #portals are widely available and have been used many years for business-to-consumer transactions. Consider holiday shopping, for instance. Traditionally, one would go to a local mall or the outlets to find items for gift-giving. In recent years, many consumers have opted instead to complete some or most of their holiday shopping on the web through an eCommerce portal with access to an array of categories of new or used merchandise.
As with so many other aspects of commerce, the consumer experience is leading to greater adoption and efficiencies for buyers and suppliers conducting B2B commerce. Through various eCommerce portal alternatives, connectivity with the requisition process can be improved and all of steps 1 through 5 may be converged and automated. Critical aspects, such as trading terms and forms of payment, may be determined upfront and, thereby, automated for any given transaction. Recent announcements by various eCommerce portals have included features that facilitate buyer and supplier reporting and reconciliations.
Over time, these portals appear to be well-positioned to serve a greater portion of B2B trading activities.
Also published in the NAPCP TransAct! newsletter
The post eCommerce portals: The grand B2B convergence appeared first on Accenture Banking Blog.
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CitiConnect APIs Support Real-Time E-Commerce Payments
#CitiConnect‘s #APIs #support new business models in e-commerce with 24×7 payment operations.
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U.S. Bank’s Innovation Focus: E-Commerce, Omnichannel, and Realtime Payments
#Innovation for the sake of problem-solving (rather than for its own sake) is the way U.S. Bank’s Dominic Venturo approaches his role of chief innovation officer. The bank has a comprehensive outlook on investing and researching emerging #technology trends through its innovation team, Venturo said. The bank approaches its innovation plan by looking for “interesting […]
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Why Visa and Mastercard Are Collaborating on a Single Checkout Button for E-Commerce
#Mastercard and #Visa are B2B firms with a B2B2C mindset, according to Mastercard CEO Ajay Banga. The two rivals announced they would join together on a #checkout #button for e-commerce last month, and today Banga explained why. Mastercard’s Banga and Visa CEO Alfred Kelly spoke at the J.P. Morgan #Technology, Media, and Communications conference taking […]
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Visa and Mastercard Will Combine E-Commerce Payment Buttons
#Payment providers #Mastercard and #Visa will #combine their online checkout experiences into one, in an attempt to make e-commerce payments as simple as PayPal or Amazon. The initiative, announced earlier this week by both companies, would merge Mastercard’s Masterpass payment “button” with Visa’s, Visa Checkout “button,” creating a one-click option for consumers who are growing […]
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China’s Tremendous E-Commerce Growth Leads to Spike in Mobile Payments
It’s no secret that China’s e-commerce scene is huge and growing, with players like Baidu, Alibaba and Tencent. By extension, China’s stellar status in the e-commerce landscape also translates into a strong performance in the #mobile #payments space. #China’s #growth in e-commerce has, indeed, been impressive. A new report by McKinsey & Company, released earlier […]
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Apple Pay to Add Ecommerce Features, Expand to Brazil
EXCLUSIVE— #Apple will continue to widen the reach of its mobile payment service Apple Pay by adding new #ecommerce capabilities and bringing the feature to new countries, CEO Tim Cook said during yesterday’s earnings call. The service will be expanding to #Brazil in “the coming months,” Cook said on the Q417 earnings call, though no exact launch […]
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