Viewpost Survey Looks at B2B Payments
10-31-2016
The results of Viewpost’s 2016 Online Invoicing and Payments Annual Survey are in, and reveal that more than half of executives prefer electronic payments over checks for business. Electronic payments are close to overtaking checks as the most commonly used form of payment already, at 35% of total remittances, versus 37% still made by check. In addition to favoring electronic payments, 30% surveyed said they have also migrated to electronic invoicing.
The survey, taken between September 29 and October 7, interviewing almost 3,000 U.S. business leaders, communicated that the majority of executives received a confidence boost in their performance after adopting electronic payments, and 64% say they’ve moved to electronic payments for bill payment because it increases speed and efficiency. All respondents said they still use checks sometimes, with 67% reporting that when they use checks, it is because their suppliers don’t yet accept electronic payments.
Click here to review Viewpost’s full survey results.
About ETA
The Electronic Transactions Association (ETA) is the world’s leading advocacy and trade association for the payments industry. Our members span the breadth of significant payments and fintech companies, from the largest incumbent players to the emerging disruptors in the U.S. and in more than a dozen countries around the world. ETA members make commerce possible by processing approximately $56.75 trillion annually in purchases and P2P payments worldwide and deploying payments innovation to merchants and consumers.
ETAs membership spans the breadth of the payments industry to include independent sales organizations (ISOs), payments networks, financial institutions, transaction processors, mobile payments products and services, payments technologies, and software providers (ISV) and hardware suppliers. For more information, visit electran.org.
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