US businesses thrive on real-time payment and their portals. It is the advancement of this portal that streamlines the B2B operation. Accessibility is one of the greatest defining factors. The 24/7 round access encourages customers to indulge in buying the goods and services. But, the list doesn’t stop there. Better transparency and a cash flow system enhancing flexibility are other detrimental factors. The field of expertise is another defining factor.
Though, there are still some US businesses which not choose the payment methods. Most of them are generally Canadian firms. There is nothing but the misconception centering on fraud risk. In the real world, the firms just lack better infrastructure. And, it is too occupied to develop and adopt the payment method. These US businesses face disadvantages against the other.
37% of all Canadian businesses want to use these payments. But they are extremely unfortunate to not utilize the benefit of payment features. On the other hand, 28% of the US businesses use dedicated real-time payment methods.
Large US businesses have almost twice the utilization of payment methods. This often put the mid ranging US businesses hard to compete.
The hindrance in the use of this real-time payment method is just the pop-up response. 80% of the US businesses do not even think of it as a doubt. The advancement and belief in this technology have surpassed all the obstacles. The pros weigh more than the cons. Nevertheless, the realized revenue is still the same.
The use of payment methods often fails to create a level playing field for US and Canadian businesses. There is a sincerely great difference between the payment operations.
The real-time payment method offers encouraging benefits. It presents the firm with more opportunistic traits. It can do business anytime and anywhere. Not adopting the payment method will surely stunt the development and growth of the businesses.