5 Trends Shaping the Future of B2B Payments

B2B payment systems are evolving as companies leverage new techniques and technologies like real-time payments, or RTP, and enterprise resource planning, or ERP, integrations to help reduce fraud, streamline processes and improve cash flow.

In a recent webinar, Building a Modern B2B Payments Machine in 2025, leaders from First Citizens and EY highlighted five key trends shaping the future of B2B payments. From smarter payment capabilities to improved collections, these strategies are helping modernize payment systems and drive faster, more secure transactions.

The challenges surrounding modernization

It's important to level set on the challenges many companies are experiencing that impact their ability to modernize. During the webinar, Matt Ribbens, head of treasury product management at First Citizens, and Jennifer Lucas, EY Americas payment consulting leader, highlighted several common pain points impacting finance teams today.

Fraud remains a top concern. "Check fraud is our number one target for fraudsters," Ribbens says.

Data from the 2024 AFP Payments Fraud and Control Survey Report shows increased fraud attempts, reinforcing the need for stronger controls. Alongside fraud, manual processes and lack of automation slow operations and can introduce errors.

Lucas emphasizes how better data connectivity could also help make modernization easier. "A lot of these things—transparency, certainty, cost—all really come down to data availability," she says. "Connecting the pipes of how data flows can solve some of these problems."

Regardless of which of the following trends you harness, fraud attempts and data availability are going to come up. Don't let them stop you from your modernization efforts because there's more work to be done at a macro level to solve these issues.

The following five trends are top of mind for CFOs and treasury leaders today.

1Smarter payment capabilities through payment modernization

Smarter payment tools such as RTP, FedNow and virtual cards are available and increasingly adopted by businesses looking to drive efficiency and improve cash flow.

The benefits of smarter payments and payment modernization go beyond speed. The information and certainty they provide can add value. Lucas notes that while faster payments can raise concerns about parting with cash quickly, the real value lies in the ability to track, verify and reconcile transactions in real time. Virtual cards can help program spending limits, restrict usage to specific days and manage transaction amounts. That helps create a lot of controls that can improve costs and help with security and fraud prevention.

These capabilities give finance teams more oversight while reducing errors, increasing speed and providing transparency across the payment process.

2ERPs talking to banks

Business software integrations are becoming the channel many treasury leaders rely on to access banking operations, thanks to API connectivity. This capability, which at one time was considered only a pipe dream, is becoming increasingly important to organizations.

Banks' integration connectors and plug-ins allow companies to manage payments, receive funds and handle exceptions all within existing ERP systems. This integration eliminates the need for finance teams to juggle multiple banking portals and creates a single source of truth for financial data. That reduces friction and improves financial visibility.

"It's the consumerization of finance," explains Lucas. "Banks are embedding themselves into your experiences as opposed to requiring you to go to them. With more secure connectivity, it allows you to aggregate a variety of information to work the way you want versus the standards that each individual bank has."

3Emerging global payment standards, such as ISO 20022

Financial institutions worldwide are adopting ISO 20022, a global messaging standard for financial information, to streamline how payment information flows across borders and systems. Major payment networks, including CHIPS, FedWire and SWIFT, are transitioning to this standard in 2025. Newer instant payment systems like RTP and FedNow are ISO 20022-designed using the new standard from their start.

According to Ribbens, beyond standardization, ISO 20022 will let companies harmonize data across different payment types and move between them without losing information. The richer data format also helps banks improve fraud screening and resolve payment reviews faster. Businesses benefit from better payment reconciliation and reduced complexity.

In the excerpt below, Ribbens discusses how ISO 20022's expanded data capacity creates new opportunities for businesses to leverage their ERP systems, improving everything from inventory planning to payment reconciliation.

4Taking a trust-but-verify mentality

Check fraud remains a top target for fraudsters. According to the AFP payments survey, 80% of organizations faced actual or attempted fraud in 2023—up 15% from the previous year. The Federal Reserve reports that check fraud up 50% from 2018 to 2023, yet 70% of organizations using checks have no immediate plans to stop.

"If you haven't had check fraud, then it's just a matter of time," warns Ribbens. "When you're doing something that we know tends to be a focus of fraudulent activity, we recommend you take some precautions. And there are effective precautions to take to avoid compromise of a payment."

Businesses are doing that by adding multiple layers of security, many of which are bank-provided. Account validation services verify payment credentials and recipient information before transactions occur, while Positive Pay for checks and ACH can help catch unauthorized payments. Additional measures like dual authentication, IP whitelisting and integrated payables can create a more secure payment environment.

In the excerpt below, Ribbens discusses the growing prevalence of payment fraud and steps organizations can take to protect themselves, including implementing Positive Pay systems and strengthening account controls.

5Improving consumer and business collections

Consumer payment preferences are also shifting. Cash payments have dropped since 2016, while credit and debit card use continues to rise. These changes, along with the rise in mobile apps and payments, are pushing businesses to rethink their collection strategies.

"If you're trying to expedite your collections, giving customers more choices of how to pay can be a really valuable tool," Ribbens says.

Companies can offer multiple solutions, like wholesale lockbox services for check processing, electronic bill payment platforms for cards, and ACH transactions and integrated receivables systems that provide a unified view of incoming payments.

This modernization goes beyond just processing payments to also consider customer experience.

"It really does change the dynamic of just getting a receivable versus creating a unique experience," Lucas says.

Businesses are implementing electronic bill payment and presentment solutions that combine ACH and card payment options, making it easier to do business with customers. These systems help companies streamline collections.

In the excerpt below, Ribbens and Lucas discuss how offering multiple payment options can expedite collections while creating better customer experiences, especially through electronic bill pay solutions and integrated receivables platforms.

The bottom line

B2B payment systems are evolving through smarter payment capabilities, software integrations and improved data standards. As companies face increasing fraud risks and changing payment preferences, these tools can help streamline processes, strengthen security and improve cash flow management.