From cash to crypto, payment technologies have changed substantially over the years, shifting how businesses transact with suppliers and manage financial operations. Today, B2B payment trends are evolving to leverage technologies that make transactions faster and more secure.
In our B2B Payment Trends guide, we share insights from our recent surveys of finance leaders and extensive industry research. Read on for a summary of our findings and learn more about the latest advancements in digital payments and B2B adoption.
Goodbye, Paper Checks
In the last 20 years, paper checks have gone from one of the most popular payment methods to outdated. Data from the Association for Finance Professionals (AFP) shows that more than 80% of B2B payments in the U.S. and Canada were made by check in 2004. In 2022, that number dropped to 33%.
AvidXchange’s 2025 Trends Survey underscores this, finding that only 8% of organizations use checks most often to pay suppliers. It’s no surprise that businesses are moving away from paper checks given the pervasiveness of check fraud today.
Our 2024 B2B Payment Security report, produced with the Institute of Finance & Management (IOFM), found that 76% of organizations experienced payment fraud in 2023, with checks comprising the largest share of related financial damage. According to the same report, losses attributed to check fraud ranged from less than $50,000 to over $1 million.
Hello, Digital Payments
Security isn’t the only driver influencing the move away from paper checks. Speed is another factor that’s impacting this B2B payment trend. AFP’s Digital Payments Survey Report notes that speed is the primary consideration impacting businesses’ payment method choice.
According to the Consumer Financial Protection Bureau, banks typically take up to two business days to settle a check payment. And that doesn’t include the time businesses take to prep and mail that check to a supplier. Alternatively, digital payment methods like ACH are settled four times daily and real-time payments (RTPs) via FedNow are settled in seconds.
So, it’s no surprise that AvidXchange’s 2025 Trends Survey found that more than a quarter (28%) of finance leaders said their organization exclusively uses ePayments for financial transactions.
AI Impacts Electronic Payments
Artificial intelligence (AI) can transform digital payments by incorporating advanced features such as enhanced fraud detection and predictive analytics. These innovations are designed to add security and improve operational efficiency compared to paper-based payment methods.
AI-enhanced software can help protect businesses from unauthorized transactions, optimize cash flow management, minimize manual errors, and boost productivity. By pairing AI with support from a team of experts, an additional layer is provided to help check for nuances and further streamline the transaction process.
Though our 2024 B2B Payment Security Survey with IOFM indicated that only 5% of AP departments currently utilize AI-driven anomaly detection (as of December 2023) for mitigating payment fraud risks, the adoption rate will likely increase as overall AI adoption rates grow.
Benefits of Following B2B Payment Trends
Following B2B payment trends away from paper checks and towards electronic payments offers potential organizational advantages, including:
Cost Savings
Electronic payments help lower labor costs by mitigating time-consuming tasks like making check runs and filing paper receipts. Since electronic payments are processed faster than traditional checks, they can also help businesses avoid costly late fees and take advantage of early payment discounts and rebate opportunities.
Efficiency
Electronic payments expedite transactions and help organizations reduce time spent on manual processing.
Most accounting and AP software platforms directly receive statements from electronic payment platforms, facilitating automation of the reconciliation and reporting processes. By reducing paperwork and manual intervention, finance teams can enhance productivity and focus on strategic work instead of time-consuming tasks.
Control
Transforming AP processes and payments into digital formats helps provide AP teams with real-time transaction visibility, allowing for proactive oversight and management.
Automated workflows are designed to expedite invoice and payment processing, helping reduce delays, enhance cash flow efficiency, and improve supplier relationships. Customizable approval hierarchies and audit trails help AP teams retain control over their processes. And cloud-based, centralized systems can offer access anytime, anywhere, from any device.
Security
Electronic payment methods can provide businesses with substantial security benefits by helping reduce the risk of fraud. Unlike paper payments, digital transactions come with advanced encryption and security measures.
The Digital Evolution of B2B Payments
Many businesses are moving away from paper checks towards digital payment methods like RTPs and virtual credit cards. These modern payment platforms can offer businesses advantages like enhanced security, more efficient processing, and cost savings.
Today’s B2B payment trends help deliver convenience and agility to AP teams. Especially when integrating with existing AP and accounting software, digital payments are designed to enrich financial management and reporting within an organization, empowering businesses with the tools they need to maintain a competitive edge.
To learn more about what to look for when evaluating electronic payment technologies, download our guide: B2B Payment Trends.
