![]() ![]() Why? Well, believe it or not, as archaic as paper checks are in this new digital age, they are pretty easy for buyers to issue. Billions, yes billions, of checks (worth tens of trillions of dollars) are written each year by buyers and sent to suppliers to settle invoices (that in many cases are actually sent to them electronically). a long time ago) but they are alive and well in B2B payments land. (Also, visit for a demonstration video of how AribaPay works.)Ĭhecks may be dying everywhere else in the world (and declared dead outside of the U.S. Here’s how it works and some background to put the solution in proper context below. ![]() Ariba and Discover could be to B2B payments what Andrew Wiles was to Fermat’s theorem - the entities that finally solve the problem.ĪribaPay, the electronic B2B payments solution, launched today by Ariba and powered by the Discover Network, is reported to “solve the last mile” of B2B payments by offering an “efficient and transparent” way for buyers to pay suppliers. But no one has been able to enter the market with a scalable, electronic solution attractive enough to both buyers and sellers that they are willing to ditch the defacto B2B payments solution - the paper check. ![]() Really and truly solving the B2B payments’ problem over the years has been a little bit like proving Fermat’s last theorem - lots and lots have tried and a few have even gotten pretty close. ![]()
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