Money movement innovation using payment ecosystems and blockchain technology

Highlights:

1:21 - Why payments are hard today

3:40 - Large financial institutions exploring and adopting blockchain

7:10 - Do consumers and businesses need to understand the underlying technology?

11:30 - Payments ecosystems

13:20 - Payments ecosystems compliance and security

16:23 - Types of businesses best suited to utilize payments ecosystems

About this episode:

The need for innovation in payments has never been greater. Fragmented systems create delays in settlement times, layers of fees, and ultimately, cash flow challenges for personal and business financial operations.

Aaron Kruse, Head of Crypto and Blockchain Product Development at Alviere, sat down with Jay Saling to discuss how payments ecosystems and blockchain-based technology can innovate the way money moves and payments are made.

About B2B payments ecosystems:

Simply defined, a B2B payments ecosystems are a collection of accounts on one digital ledger that allows for seamless payments to and from different members of a business's supply chain.

Through Alviere’s Proprietary Ledger, global organizations can create and control their own B2B Payments Ecosystem. Streamline purchasing with virtual money movement to drastically reduce costs, speed up settlement times, and fully control funds.

Why create a B2B payments ecosystem for your enterprises money movement needs:

1. Reduce Costs: Eliminate traditional bank fees by moving money from account-to-account within a singular payment ecosystem. Money movement between accounts in the ecosystem will not incur any cost.
2. Settle Instantly: Get faster access to accounts receivable, improving operational efficiency and optimizing cash flow. Transactions processed via accounts in your global payments ecosystem settle instantly.
3. Optimize Cashflow: Take full control of your funds by tying up less cash for liabilities. Your business can reconcile ecosystem payments in real-time, allowing you to hold onto cash until the moment an invoice needs to be paid.

Learn more about B2B payments ecosystems, here.

Episode Clips:

What is a payments ecosystem? Aaron Kruse explains...

What types of business models are best-suited to utilize payments ecosystems?

Aaron Kruse highlights how the franchise business models can use payments ecosystems to improve cashflow, save on money movement fees, and positively impact core business operations.

A breakdown of the long awaited instant payments infrastructure developed by the Federal Reserve, FedNow.