Whether through virtual payment technologies or faster payment initiatives, the B2B payments ecosystem has explored ways to accelerate the time it takes a buyer to pay its supplier. It’s one of the most common conundrums in this space and has yet to be solved — despite a plethora of options.
Some argue electronic payments, like credit cards, are the answer. Others say late B2B payments are a reality, and instead, suppliers should access external financing to manage cash flow while they wait to get paid.
NOWaccount CEO Lara Hodgson has a different approach. She told PYMNTS why financing the buyer, not the supplier, can not only solve the issue of late payments but make accounts receivable disappear.