As businesses There has been an equal amount of innovation on the B2B side of the payments house. Due to stay at home order during the pandemic, businesses were forced to adapt to a work- were locked from-home environment with increasingly global payment participants almost overnight. Regardless of whether you are an SMB, mid-market, or enterprise business, an inordinate down, the amount of time is spent on accounts payable and invoices. Prior to COVID-19, there were full back-o昀케ce teams processing invoices, 50% of which were paid o昀툀ine as the charts adoption of below demonstrate. digital solutions massive tam with long runway for disruption50 increased B2B Payment Volumes: $120+ Trillion Paper checks are 40% of AR/AP volumes ~ exponentially. X-Border 8% Digital Card-based 17% 52% Domestic 75% AR/AP Check 48% As businesses were locked down, the adoption of digital solutions increased exponentially. This acceleration came in the form of pureplay Account Receivable/Account Payable (AR/AP) solutions and also via embedded solutions in existing software suites such as Tipalti, Shopify, and Coupa. Making the situation even more complex, companies accelerated their push into new international territories with their customers, partners, and employees as Zoom meetings opened up the world. Software platforms can serve global customer bases. However, integrating payments into an existing suite has ampli昀椀ed the need for cross-border payments solutions. While technology has completely upended the market for goods and labor, we believe that cross-border 昀椀nancial products have not kept up. Shifting focus brie昀氀y to the consumer side of the equation, while remittance volumes have increased over time and make up a signi昀椀cant source of income for some countries, the process is still high-friction for consumers, with a few digitally-native players winning market share by seeking to simplify and speed up this process. DIGITAL PAYMENT ACCELERATION SHARE VISIT PG 34