Day One of TreviPay Crossroads began with high energy and a clear focus on the evolving landscape of B2B payments. The morning main stage sessions laid the groundwork for a day filled with forward-thinking discussions, exploring the forces reshaping B2B fintech, from globalization and technological advancements to sector-specific challenges and opportunities. Attendees were treated to a wealth of insights from industry leaders, highlighting the importance of innovation and collaboration in driving the next wave of growth for the B2B payments sector.
Welcome Address: The Year of B2B
Brandon Spear, CEO of TreviPay, kicked off the day with a compelling welcome address that set the tone for the event. Spear declared 2024 as the “Year of B2B,” emphasizing that the focus on B2B payments is stronger than ever before. “B2B payments are having their day in the sun,” Spear stated, underscoring the momentum and attention the space is garnering across industries.
Spear shared insights into how the pandemic accelerated the shift towards digital transformation, highlighting the critical need for innovation within the B2B space. “Digital transformation set the stage, but it was during the pandemic that it really accelerated. If there were manual processes in place, the pandemic highlighted that those were broken.”
Spear also pointed to the enormous growth potential within B2B payments, referencing the $137 trillion market opportunity. “That feels like a decent size of the market, right?” Spear quipped, prompting smiles from the audience. He continued, “We believe this is the moment to do something really interesting and transform the payments landscape.”
Many attendees noted that Spear’s remarks set the stage for the day, inspiring them to think about how their own organizations could adapt and lead in this shifting environment.
Keynote Session with Nick Utton
Nick Utton, former CMO of Mastercard and E*TRADE, took the stage next for the morning’s keynote session. As a marketing visionary who has led some of the most iconic brand transformations, Nick’s session was packed with actionable insights for the B2B payments world. He discussed the critical role that brand transformation plays in a company’s ability to thrive in the B2B sector, focusing on the ways payment platforms can enhance customer loyalty by offering frictionless and streamlined experiences.
According to Utton, marketing and payments go hand-in-hand, and the more powerful your message and the more it resonates with your audience, the more impactful your product(s) can be. In 1996, Utton was tasked with breathing new life into the Mastercard brand. After months of input from five different international marketing experts, Mastercard selected its now iconic message of “priceless.” “There are some things money can’t buy. For everything else, there’s Mastercard.”
This priceless campaign, Utton said, was likely going to last five years. Now in it’s 28th year, the campaign is still strong. The goal was to create a brand that had both an emotional resonance with audiences as well as a strong foundation of doing what it does best: processing payments.
Utton’s thoughts on the importance of customer-centric innovation were particularly impactful. He emphasized that in today’s highly competitive market, building brand value goes beyond just offering a service—it’s about delivering seamless, integrated solutions that create lasting relationships. His session sparked thought-provoking conversations among attendees, who appreciated his focus on how businesses can differentiate themselves through innovation in payment platforms.
Industry Panel: Think Global, Act Local
One of the morning’s highlights was the industry panel discussion titled “Think Global, Act Local,” moderated by Allen Bonde. The panel brought together Dee O’Malley, Retail Track Chair, and Tom Cunningham, Travel Track Chair, to discuss how different industries—manufacturing, retail and travel—can leverage B2B payment solutions to meet both global and local demands.
The panel touched on several key themes:
- Allen Bonde opened the discussion by noting the massive opportunity in B2B payments across various sectors. He highlighted how automation and streamlined invoicing systems are transforming global supply chains, saying, “We’ve seen massive adoption in the B2B space, especially when it comes to integration and seamless flow between buyers and suppliers.”
- Dee O’Malley, reflecting on her years at Best Buy, noted how retail has been both slow and fast to innovate. “In retail, it runs the gamut—from very unsophisticated systems still collecting signatures, to extremely complex ecosystems driving frictionless transactions,” O’Malley explained. She emphasized the growing expectation for consumer-like experiences in B2B transactions, adding, “Businesses are demanding the same seamless, efficient experiences that consumers expect.”
- Tom Cunningham discussed the unique challenges and opportunities within the travel industry, particularly in optimizing payments post-pandemic. He mentioned, “In the airline industry, payments innovation has been historically slow due to complex systems and legacy infrastructure, but we are now entering a phase where we can innovate faster, with fewer impediments.” He also highlighted the complexity of the B2B sales process in travel, explaining that airlines often deal with large corporations and travel management companies, making payment solutions critical.
The industry-specific insights provided by the panelists offered valuable takeaways, particularly around how global strategies can be adapted to meet local market demands. Cunningham urged the audience to explore the parallels between industries, saying, “Retail and travel aren’t as different as they seem. We all face the challenge of providing better payment experiences, whether through loyalty programs or seamless transactions.”
The Next Level of B2B Payments
The main stage sessions provided a comprehensive overview of the critical trends shaping the B2B payments sector in 2024. From the powerful opening remarks by Brandon Spear, which highlighted this as the “Year of B2B,” to Nick Utton’s thought-provoking insights on brand transformation, attendees left the morning sessions with a clear sense of the opportunities ahead. Other topics on the main stage focused on buyer perspectives, risk management and the state of e-Invoicing.
The breakout sessions covered hot topics in travel, retail and manufacturing. These panel discussions with contributions from industry-leaders including IDC, Best Buy, Visa and Southwest Airlines further reinforced the importance of industry-specific innovations and adapting global strategies to local market needs.
Attendees came away with plenty of ideas for driving their own businesses forward in these rapidly evolving spaces.
For a recap of the opening reception, read “Connecting the Dots in B2B Payments.”
