The foundation has been built for faster transactions to gain traction, transforming trillion-dollar industries that traditionally relied on paper checks, paper invoices, and a variety of other inefficiencies.
The pandemic, which compelled businesses to deepen their relationships with consumers and suppliers, was the catalyst for the need to improve transaction visibility and speed.
As previously said, corporations frequently support a wide range of well-established economic operations. For example, 88% of banking and insurance institutions and 93% of healthcare organizations accept debit card purchases.
If you look a bit further, there is a possibility to more firmly integrate digital options into the mix.
According to the same study, 37% of firms in the banking and insurance industries support ePayables.
Aside from financial services, the healthcare industry is primed for data-driven innovation. Credit card payments are accepted by 96% of healthcare institutions, while debit card payments are accepted by 84%.
