What does the future hold for international payment transactions in the B2B sector? This question was the focus of a joint survey by DPS and ibi research.
German companies that regularly make or receive payments outside the SEPA area were surveyed. The survey’s aim was to establish a better understanding of the requirements of corporate customers regarding payment transaction services outside the SEPA area, and to develop possible future scenarios. This also involved assessing the potential of disruptive payments offerings, such as those based on DLT, in comparison to the established SWIFT-based services.
83 per cent of respondents stated that the majority of these international payments are processed by their house banks. Only 38 per cent use other payment service providers exclusively, or addition thereto. Especially among large companies, it is the house banks that dominate – smaller ones tend to use other service providers as well, according to the analysis of the results. At the same time, companies have clear requirements for payment processing: Transparent fees (93 per cent), standardised interfaces and formats (88 per cent), clear allocation of payment and invoice (89 per cent) and low costs (85 per cent) are important or very important to the vast majority of treasurers.
As clearly as these requirements are formulated, a fundamental dissatisfaction affecting the companies with the current service landscape is also clearly recognisable. In particular, payment tracking, real-time payments and processing costs were named as critical points by the respondents.
Joachim Dorschel, Managing Partner of DPS, commented as follows: “In our view, the study shows that it is worthwhile for banks with relevant corporate customer business to further develop their services for xBorder payments. Ripple & Co. are still far from conquering the market at large. However, it is important to make use of the extended possibilities offered by CBPR+, SWIFT gpi or SWIFT Go, for example, and to align proprietary systems accordingly.”
The complete study can be obtained free of charge. Please send us a short request. You can use the following mail link for this purpose.
