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The 2020 Business Payments Barometer arrives at an unusual time, amidst COVID-19. It provides a snapshot of how companies are managing their payments pre-pandemic. The report analyses where companies are set to make investments over the next year, where they won’t, and how a ‘new normal’ might influence these findings as we emerge from the pandemic.

In a complex landscape full of regulation and payment options, it’s critical for companies to invest time and resource into areas which will put their business one step ahead.

What does this year's report reveal?

BT security fraud & risk 161

58% of financial decision-makers view loss to payment fraud as ‘part and parcel of running their business.’

BT legal 104

Despite an increase in new payment initiatives and regulations, just 58% of businesses feel prepared for Open Banking – down 8% from 2019

BT documentation & messaging 60

Accelerating digitization is crucial, especially when navigating the challenges posed by COVID-19

Over the last year, we’ve seen a significant impact on the payments industry, including the introduction of new industry initiatives and more sophisticated fraud techniques. The 2020 Business Payments Barometer highlights the need for more awareness and education when it comes to regulatory changes, something the regulators, banks and service providers haven’t managed to master.

With the business world adapting to an ever-changing landscape, how do companies ensure they’re making the right investments?

Download this year’s 2020 Business Payment Barometer to benchmark your business and help you make sound financial decisions moving forward.

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