Executive summary
70% of companies buying from international vendors have stopped doing business with them because of a cross-border B2B payment experience, according to 460+ AP professional surveyed. When you look at that stat through that lens of your customer viewing an invoice, it becomes clear why. The AP professionals surveyed said dealing with FX complexity holds back their company’s growth, introduces delays and problems in paying invoices to key partners that strain internal relationships with coworkers, and just makes it hard for them to do their job properly. Flywire commissioned the independent survey across three countries each in Latin America, the Middle East and Africa—sampling some of the fastest growing regions in the world for international business. We learned that the B2B payment experience impacts customer experience, that there is a clear business advantage to improving it and that customers would welcome a change.
Are more likely to do business with a vendor in another country who makes it easy to pay their invoices
Are more likely to do business with a company that supports payments made in their local currency
Say paying in their local currency is as appealing as discounted payment terms
Would embrace a change that eases the cross-border payments process and prefer a more automated way to make cross-border payments
Cross-border B2B payments are complex. Your business can better attract and retain international customers by making the experience easier. In this report you'll learn:
What's holding up your cross-border payments
What international customers want in payment processes
Region-specific insight into payment challenges & solutions