This episode was recorded at the Money 20/20 event in 2019. On this episode, PaymentsJournal’s editor-in-chief, Ryan McEndarfer, sat down with Vijay Ramnathan, president of MineralTree, Inc.

PaymentsJournalUnpacking the Latest Trends in B2B Payments: A Conversation with MineralTreePaymentsJournal Unpacking the Latest Trends in B2B Payments: A Conversation with MineralTreePaymentsJournaljQuery(document).ready(function ($){var settings_ap14937846 = { design_skin: "skin-wave" ,autoplay: "off",disable_volume:"default" ,loop:"off" ,cue: "on" ,embedded: "off" ,preload_method:"metadata" ,design_animateplaypause:"off" ,skinwave_dynamicwaves:"off" ,skinwave_enableSpectrum:"off" ,skinwave_enableReflect:"on",settings_backup_type:"full",playfrom:"default",soundcloud_apikey:"" ,skinwave_comments_enable:"off",settings_php_handler:window.ajaxurl,skinwave_wave_mode:"canvas",pcm_data_try_to_generate: "on","pcm_notice": "off","notice_no_media": "on",design_color_bg: "111111",design_color_highlight: "ef6b13",skinwave_wave_mode_canvas_waves_number: "3",skinwave_wave_mode_canvas_waves_padding: "1",skinwave_wave_mode_canvas_reflection_size: "0.25",skinwave_comments_playerid:"14937846",php_retriever:"https://www.paymentsjournal.com/wp-content/plugins/dzs-zoomsounds/soundcloudretriever.php" }; try{ dzsap_init(".ap_idx_84000_2",settings_ap14937846); }catch(err){ console.warn("cannot init player", err); } });

PaymentsJournal:

So, Vijay, thank you so much for joining me on today’s
episode. To start things off, can you tell us about the latest trends in B2B
payments?

Vijay Ramnathan:

Right. As you know, B2B payments has been evolving over the last few years, and we see emerging trends rapidly taking shape. The first that I want to highlight is the emergence of cloud and applications moving to the cloud. As a result, API-based integrations for systems to communicate with each other is becoming a lot easier. So that’s one of the key aspects that’s driving transformation in B2B payments. Faster and real time payments are evolving pretty rapidly as well, with both the public sector and private sector actively playing a role in that. Globally, this has taken off and received massive traction and adoption in the United States as well.

So, that’s another trend that we see and stay close to. Paper, as you know, has been a predominant part of B2B interactions, especially on the accounts payable side and on the payments side. We see the predominance of papers slowly but surely shrinking, and that’s happening on two fronts. One is with invoices and documents such as purchase orders, invoices, and receipts, which are taking on more of a digital form. More importantly, on the payments side, the number of checks being issued by businesses, especially mid-size and large-size entities, are going up. I would say those are some of the key trends that we’re staying close to and see emerging and shaping the B2B payments landscape.

PaymentsJournal:

Well, fantastic. I’m glad that you brought up the declining
use of checks and we’ll get to that in a little bit later in this interview
here. But earlier in your response, you brought up accounts payable. How do
both banks and commercial customers benefit from B2B payments, particularly
around accounts payable automation?

Ramnathan:

From a bank standpoint, banks are driven fundamentally by collecting deposits and lending money, and are critical engines of economic growth for any country. One of the areas where AP automation can play a significant role is in growing those deposits because customers and businesses park their money with the banks,