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When considering the top examples of disruptive technology set to transform businesses in 2022, the metaverse and blockchain no doubt rank high in the minds of most people. While these technologies will have a profound and enduring impact on society, we should not let this overshadow the impact certain B2B platforms are having in actively transforming businesses. Global payment gateways and payment services providers (PSPs) are deploying new payment technologies to ensure merchants can access new markets once considered out of reach.
For companies that don’t have the resources, expertise, or connections, the opportunity to access more consumers by offering products or services in a foreign market comes at a high risk. What’s more, finding local partners to work with requires an understanding of the local culture and company etiquette. Taking all these factors into account, many SME vendors once would have felt deterred from accessing new markets.