By November 22, 2022 (Investorideas.com Newswire) Business- to-Business (B2B) payments are transitioning from traditional methods such as checks, wire transfers, and cash to modern payment systems that use the internet. However, an analysis from MoneyTransfers.com shows that 33% of B2B transactions in the US and Canada are still made through Checks despite technological advancements.
Speaking on the findings, the CEO of MoneyTransfers, Jonathan Merry, said : “Old habits die hard, and people who started with checks find it hard to switch to other payment systems. With more businesses needing to pay suppliers and employees quickly and securely, there?EUR(TM)s a need for more efficient payment solutions that can streamline the process.”
Checks were once the standard for B2B payments; however, many issues are associated with checks, such as manual errors in filling out details or lost documents. In addition, check payments take longer to process than electronic payments. The full story and statistics can be found here: 33% Of B2B Transactions in the US and Canada Are Still Made Through Checks Despite the Technological Advancements
More Info:
This news is published on the Investorideas.com Newswire – a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.
More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com
Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
