Real-time payments have become one of the key tools that United States businesses have at their disposal to keep their business-to-business (B2B) operations running smoothly. Not only do 22% of them report benefiting from the instant funds availability that real-time payments provide, but many also report benefiting from their 24/7 year-round access, enhanced transactional visibility, improved cash flow management and greater flexibility, among many other benefits.
Nevertheless, many U.S. firms choose not to use real-time payments, and many Canadian firms would not want to use them — even if they were available — chiefly because they hold misperceptions about the fraud risks involved or because firms may lack the infrastructure and in-house expertise needed to adopt them. These firms are left with a disadvantage against their competitors that use the operational benefits that real-time payments offer.