Payment marketplace alliances are the future for banks

The big transaction banks are becoming increasingly active in the B2B marketplace as they seek to cash in on corporate digital transformation.

Successful B2B companies are increasingly facilitating a greater share of their sales efforts through third parties and owned marketplaces. McKinsey’s most recent global B2B Pulse survey provides evidence for this, finding that the adoption of company-owned marketplaces increased 8% last year, while 40% of the biggest share winners are selling their products online through a third-party marketplace, compared with 27% of share losers.

Earlier this month, Societe Generale signed a commercial partnership with pan-European payment institution Lemonway to deliver payment services to large corporates in western Europe, launching B2B marketplaces.

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