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CoverStory

"B2B merchants that meet these digital expectations in Sivan further stated that open banking is evolving
the new normal may establish stickiness and loyalty vertically into open finance and horizontally into open
with customers, and could enjoy cost savings, increased data, citing, for example, Australia's Consumer Data
revenue potential and better cash flow." Right standard supports openness in banking and other
verticals, including an open energy standard. Expect
Spear pointed out that organizations must make customer discussions in the coming year to lean into these ideas, he
financial data, such as available store credit and open added.
invoices, accessible in a variety of ways in virtual
commerce, physical stores, online and on mobile apps. Transparent fee structures
Adding data, such as purchase order numbers, to invoices Talapan expects to see more complex industry-specific fee
and supporting integrations into procure-to-pay and structures in 2022. "Fee Navigator analyzes thousands of
enterprise resource planning platforms are also critical in statements representing a very wide range of ISOs, pricing
helping digitize accounts receivable, he added. structures and specific terminology," he said. "While many
[service providers] speak of transparency, we see fees added
Allen Kopelman, CEO and co-founder of Nationwide on top of interchange and dues and assessments; we see the
Payment Systems, expects electronic payments, payment same fee category ranging from $1.95 to $295 per month,
portals and billing links in invoices will replace checks in as well as an ever-growing mountain of custom fees."
the B2B sector in 2022. "Companies will embrace electronic
payments for many reasons," he said. "First, to improve Intelligent AI platforms can capture all this variety, and
cash flow, second, to stop waiting to get paid, and third, Fee Navigator uses crowd intelligence and AI to help the
to get paid 24-7." user community maintain an accurate, up-to-date picture
of what's happening in the industry, Talapan noted.
Companies will see that paying a small fee to collect
revenue earlier is healthier than waiting for a check to Ng hopes to see more transparency in buy now, pay later
arrive in the mail, Kopelman stated, adding he expects (BNPL) offers and predicted 2022 will be the year of BNPL
to see more payment facilitators in 2022. "Payfacs enable reckoning fueled by a growing number of defaults. Credit
independent software vendors to board customers and scores for defaulting consumers will take a hit, putting
give them merchant accounts instantly," he said. added pressure on the underbanked and limiting credit
Transparent data integrations and borrowing options such as obtaining a car loan or
mortgage, he stated.
Dan Demers, CEO and co-founder at Cinchy, believes
"dataware" will deepen integrations in 2022. "It's long "The rise of buy now, default later will trigger fintech
past time to make data integration irrelevant—and in companies to start adopting better consumer guardrails
the process, slash operating costs, eliminate new data on BNPL, like spending limits based on a more holistic
silos, enable better collaboration, and make it easier for view of a consumer's finances," Ng said. "We also expect
companies to deliver the digital solutions needed for to see brands start to offer more savings and investing
modern operations," he said. features for their customers and communities so BNPL
defaults are mitigated."
Dataware, which Demers described as the successor to
hardware and software, builds on the Canadian Zero-Copy As payments evolve, core concepts of security,
Integration standard. The autonomous platform combines intelligence, agility and transparency become self-evident
operational data fabric, automated data management, to stakeholders, noted Kyle McCann, director of business
domain-centric data governance and no-code design, and development at VizyPay. "Industry giants have established
Cinchy's dataware solution eliminates copy-based data practices, and as companies move to full disclosure with
integration and supports meaningful data ownership, he partners, this forces new players to follow suit or be left
stated. out," he said. "Things that seem small, such as support wait
times, easily understandable pricing and inviting reviews,
Eyal Sivan, head of open banking at Axway, expects open have always been key factors in how we do business and
banking to scale in North America in 2022, as the United measure success."
States and Canada balance market-driven efforts with
regulatory oversight.
Dale S. Laszig, senior staff writer at The Green Sheet and managing
"Expect the coming year to see momentum build on this director at DSL Direct LLC, is a payments industry journalist and content
front, with government and industry finding a way to join strategist. Connect via email dale@dsldirectllc.com, LinkedIn www.
hands in an effort to catch up to their peers in Europe, the linkedin.com/in/dalelaszig/ and Twitter @DSLdirect.
UK and Australia, as well as to prevent being overtaken
by Brazil, the Middle East and Africa," he said, noting that
North American open banking will be more mature than
today by the end of 2022.

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