This post was originally published on The FinTech Times
Embedded finance provider Weavr is expanding the availability of its Apple Pay and Google Pay service, creating a consumer-like experience for business-to-business (B2B) payments. The move is strategically timed as a global survey indicates that 82 per cent of merchants are set to increase their use of virtual wallets before the end of the year, signalling a significant shift in how businesses pay each other.
The service is designed to replace often “clunky and outdated” business payment processes with a system that is familiar to millions of consumers. It allows B2B SaaS platforms, such as expense management and HR tech apps, to issue cards that are instantly provisioned into mobile wallets.
Closing the B2B friction gap
Alex Mifsud, co-founder and CEO of Weavr
While consumer payments are increasingly dominated by mobile wallet transactions—expected to handle a larger share than ever before—most employee and business payments still rely on slower, manual processes. This disparity is compounded by research showing that 66 per cent of B2B suppliers say they fall short of buyer expectations for payment experience, with 48 per cent expecting demand for card-based payments to grow
— Read the rest of this post, which was originally published on The FinTech Times.
