The foundation has been set for quicker transactions to keep gaining pace and upgrade trillion-dollar industries that previously depended on paper checks, paper invoices, and a variety of other inefficient practices.
The need to improve transaction visibility and speed initially developed during the outbreak, which compelled businesses to fortify their links with clients and suppliers.
As we’ve already said, corporations frequently assist a number of long-standing commercial endeavors. For instance, 93% and 88%, respectively, of businesses in the banking and insurance sectors enable debit card transactions.
If you look a bit further, there is a greenfield opportunity to more firmly integrate digital options into the mix.
For instance, just 37% of businesses in the banking and insurance industries support ePayables, according to the same study.
A data-driven transformation is also feasible in the healthcare industry, in addition to financial services. Health care providers accept debit and credit cards in about 96% and 84% of cases, respectively.
