In the last year and a half, we have transformed the way we do

business. As consumer habits shifted, companies pivoted to meet

demand and generate revenue. So why shouldn't businesses
reevaluate the way they receive payment as well?

Currency, in its simplest sense, is whatever we agree has value. In

essence, paper money is no different than Bitcoin , Dogecoin, or the
tokens at a Chuck-E-Cheese. As our understanding of currency has
evolved, however, from the gold standard to almost exclusively digital
currency, the way we make payments has evolved as well — but not
for everyone.

Most people are familiar with Venmo, CashApp, and other platforms
that facilitate the free transfer of money. We carry paper money less
frequently, and we rely on digital assets for money management. More
often than not, we're paying for things online with a credit card or
through a virtual money transfer.

But that's not the case for most businesses, and particularly the B2B
sector. It is not challenging for a business to send a payment via a
service like Venmo or CashApp — it's simply not the industry
standard. There is some innovation starting to happen in this space.
For example, a new platform called RealNet was launched last month
that offers a SaaS payment platform for businesses so that they can
send money to vendors immediately.

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If services such as RealNet were to become industry standard, it could

free up cash flow and bring businesses up to date in the age of digital
spending. Payments that used to take days to process, clear, and
settle could be as simple and fast as sending money via Venmo. In
general, any new entrants into the B2B payments space should
automatically determine the best payment type and be able to
navigate cross-border issues and execute the transaction. That type of
speed hasn't existed in B2B, but it could certainly transform business
payments.
Invoices that take six weeks to be paid and clear no longer make
sense, even though it's still how many companies do business. It's
even how many companies pay their regular workers, which means
dealing with a lengthy payroll process every two weeks.

Faster payment systems would allow gig workers to be paid instantly

instead of having to wait for invoices or for checks to clear, making the
world of contract labor that much more appealing. The same could be
true for salaried employees. If companies one day offered paychecks
through an instant-pay system, they could tout that as a competitive
advantage and use it to attract better talent.

Consider the implications for large enterprises in the B2B world.

Readily available funds could create a multitude of logistical
opportunities, which could simplify purchasing power within a
company. On the flip side, vendors that can pay quickly could earn
more contracts in an even competition with similar vendors.

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Building a network of networks to handle all this speed and security

takes years. It's hard to imagine that most companies will want to
invest to build one. Still, as everyone is focused on the shiny new
currencies, it's important to keep in mind that businesses should be
able to move existing currency and ensure seamless transactions