24% of RTP® Network Holdouts Say Current B2B Payment Methods Work Well Enough

§ 01 Executive Snapshot

• What: The PYMNTS Intelligence report highlights the slow adoption of real-time B2B payment systems despite their advantages over traditional methods.
• Who: Businesses, banks, FinTechs, payment providers, and the PYMNTS Intelligence team.
• Why it matters: Understanding the barriers to adoption can help stakeholders improve integration and increase the use of real-time payment systems.

§ 02 Key Developments

• 94% of businesses pay suppliers on time, indicating a lack of urgency to switch payment methods.
• 86% of businesses believe their accounts payable processes are efficient, suggesting that real-time payment providers face an uphill battle to demonstrate added value.
• 24% of RTP network nonusers cite existing payment methods as adequate, while 16% of FedNow nonusers feel the same, indicating skepticism about the need for change.

§ 03 Strategic Context

• The current B2B payment landscape is characterized by a strong reliance on traditional methods like credit cards and ACH, which are perceived as sufficient by many businesses.
• The report emphasizes the need for better integration of real-time payment systems with existing financial workflows to drive adoption and improve overall payment performance.

§ 04 Strategic Implications

• Immediate competitive consequences include the necessity for real-time payment providers to demonstrate clear benefits and improve integration with existing systems to overcome the adoption gap.
• Long-term implications suggest that successful integration will enhance the overall management of working capital for businesses, potentially shifting the competitive landscape in the B2B payments sector.

§ 05 Risks & Constraints

• A significant risk is the existing satisfaction with current payment methods, which may hinder the urgency for businesses to adopt real-time payment solutions.
• Limited industry awareness and familiarity with real-time payment systems can pose a barrier to broader acceptance and implementation.

§ 06 Watchlist / Forward Signals

• A key milestone to watch is the 22% of businesses indicating that improved integration with financial systems would enhance B2B payment performance over the next two years.
• The plan of more than half of businesses to adopt RTP network rails within two years serves as a forward signal for impending changes in the B2B payments landscape.