In a break-out move last week, Basware announced its partnership with MasterCard to “forever change the way that business pay and get paid” in B2B E-Commerce. While there is much debate in the press about whether there is truly any groundbreaking substance to this partnership—or if it is simply a marketing play—the fact remains that B2B traders are looking for a faster, safer, smarter electronic payments solution…something that banks simply are not providing.
Check out the post by Enrico Camerenelli, Senior Analyst for Aite Group. This is indeed a new era of B2B payments, and the demand certainly exists—but it seems that banks are on the outside looking in as non-bank payments providers continue to make moves that banks can only dream about. This will be a very interesting space to watch, and better yet, get involved in. The future favors the bold—particularly in the area of global trade and cross-border transactions. Game on!