More than a quarter of the world’s commercial payments and almost 30% of receivables are now processed by alternative payment rails such as Venmo, Zelle and Paypal.
That is according to a recent Coalition Greenwich report, which concluded that corporate respondents expect to be using alternative platforms for 36% of commercial payments within the next two years – rising to 42% by 2028. Receivables volumes are predicted to exceed one third by 2025 and reach almost 40% within five years.
The survey also underscored how traditional banks have raised their game when it comes to new payment services.
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