Faster and emerging payments systems are gaining traction, as nearly half of corporates are using or interested in using new payment services. Among these new services, the top focus is real-time payments (55 percent), followed by same-day ACH (44 percent) and blockchain-based networks (35 percent), according to Bottomline Technologies’ 2019 B2B Payments Survey.

In an interview with Doug Cranston, vice president of product management at Bottomline, the executive noted that in the age of speed, fraudsters are able to more easily exploit firms’ vulnerabilities, compromise their accounts payable process and get away with ill-gotten gains, often to vanish without a trace.

“Fraudsters are getting smarter. They understand the payments space, they understand the settlement systems, they understand accounts payable,” he said. As banks provide new payment options to their business customers, he added, it’s important that they also help protect their clients from fraud.