2024 Trends & Predictions: Commercial & Enterprise Payments

Commercial and enterprise payment instruments used around the globe have evolved to a state of strategic coexistence, making it more apparent than ever where and when each type should be used. This evolution has also driven us to think about new ways to position time-tested methods, introduce the first new payment rail of this century, and settle into the notion that an instrument tagged for extinction might be around longer than we think. In 2024, business-to-business (B2B) card payables and cross-border instant payments will be the ones to watch, and organizations with an environmental, social, and governance (ESG) focus will need to place more energy on chipping away at paper checks, which still make up far too large a percentage of global B2B volume.