The Impact of AI on B2B Payments

The revolutionary movement of the digital payments landscape is well underway, with new entrants and technologies in the B2C and peer-to-peer lending (P2P) sphere evolving continuously. However, there has been one sphere where the rate of innovation hasn't yet been reflected by other industries, specifically the B2B payments domain. According to CB Insights, the B2B payments sector is set to become a $20 trillion business by the end of this year. A multitude of payment providers, including PayPal and various other Fintech startups, have already sought to reduce the burden and repetitive processes associated with B2B payments. But the decisive question here is why has it taken so long for B2B payments to make its way to the digital age. "Today's $3 trillion worldwide SMB credit gap is narrowing because the criteria to secure loans are changing, and increasingly, embracing alternative data sources."