In the Press
Accordingly, some payments providers are finding success by focusing on one or two international markets for e-commerce, while others are targeting more niche markets around the globe. dLocal, for example, focuses on emerging markets. The company, whose biggest market is Brazil, is continually broadening its global reach. In mid-August, dLocal announced the expansion of its payments platform to the Middle East and North Africa, starting with Egypt and Morocco.
Dan Zimmerman serves MSTS, a global B2B payment and credit solutions provider, as chief information officer. He is responsible for strategy, innovation, and engineering for the company’s software product lines. Zimmerman has over 20 years of experience leading technology, product, and software engineering teams concentrated in the card and payment processing industry including senior roles at TSYS, Western Union and vice president of technology at Nordstrom Bank. Over his career, Zimmerman has led the launch of multiple SaaS applications, led three successful agile transformations, and won two CIO 100 awards.
Today's B2B customer is a digitally-savvy omnichannel connoisseur with high expectations of a B2C-like buying experience that still meets their more complex B2B needs. What this means is that the traditional B2B sales cycle is changing - from one based on time-consuming in-person interactions with sales reps to a streamlined, convenient process with a consumer-grade customer experience that stretches across both offline and online channels.
Multi-Service Technology Solutions (MSTS) was founded in 1978 by a former trucking company owner who wanted to automate payments for trucking services. It used its expertise in business payments along with other technical ideas to devise a unique turnkey way to provide credit as a service to the B2B community. Over the years, the platform expanded into more technologies, assets, and verticals.
Most businesses have a natural aversion to risk, experience resource constraints and often a need to cater to customers who use disparate merchant networks. This poses a tremendous challenge to scalability. As demand shifts towards adopting seamless, frictionless digital payments, the need to differentiate using a consumer-like, ubiquitous customer experience becomes paramount.
In today’s digital economy, most people think that sending money across borders is a seamless process.
While it’s true that most front-end user experiences now offer a more frictionless environment for both consumers and businesses, the behind-the-scenes processes that allow for money to move from payor to payee still rely on an incredibly archaic system.
For businesses looking to expand their ventures in global markets, cross-border payment frictions can vary from delivering international payments on time in the correct amount to delivering them in the recipient’s preferred currency. Could new B2B payment solutions, such as corporate and virtual payment cards, ease common pain points associated with cross-border commerce?
No B2B transaction occurs in a vacuum. Buyers and suppliers must consider the history of their relationship, negotiated rates and payment terms, and the reputations of the companies working together. Every interaction — from negotiating contracts to making payment to extending credit — is connected, but the complexity of B2B commerce creates many opportunities for disjointed, friction-filled experiences on both sides.
Retailers around the world are losing sales to Amazon.com and other online marketplaces, and some are looking to replace lost business-to-consumer (B2C) revenue by expanding business-to-business (B2B) sales. MSTS, a credit and payment processor in transportation, manufacturing, retail and ecommerce, sees an opportunity in offering a turnkey credit as a service (CaaS) platform to increase B2B sales in 32 countries.
The Business Roundtable’s CEO Economic Outlook is at its highest level in history, and small business owners have reported their highest optimism in 35 years. But that doesn’t mean CEOs aren’t worried about potential concerns that could harm this boom period.
What will kill the good times? Take a peek at 10 of the top CEO's concerns.