Bottomline’s 2021 Payments Barometer Reveals International Payments Shift

SourceThe Fintech Times
SectorFinancial Services
CountryMiddle east

These findings stem from Bottomline’s sixth annual Business Payments Barometer, which highlights the need to remove barriers and improve the ease and visibility of international payments in order to stimulate the economy and boost business confidence. Lack of confidence is felt most by small businesses, seen as crucial to the revival of the UK economy, who rate cash collections as their number one priority in light of ongoing uncertainties caused by the pandemic and Brexit. “To benefit trade and economic growth, more must be done to highlight the opportunity of using modern digital payment tools that can simplify cross-border payments and streamline operations.

It’s perfectly reasonable that all businesses should pay international invoices, overseas staff or transfer funds, with the same degree of security, ease and control as making a local payment,” said Paul Fannon , Managing Director, Global Business Solutions at Bottomline. Businesses focus on survival and prioritise keeping ‘cash in’ For businesses of all sizes, priorities focus more...