How the acceleration of payments will affect business/treasury management
By Tom Halpin, Global Head of Payment Products, Global Liquidity & Cash Management, HSBC
Treasurers need to manage their business in real-time, with even greater levels of transparency and predictability. Payments are moving at ever faster rates both within countries and across borders. Real-time schemes are proliferating around the globe and clearing systems are open longer, with clearing cycles shrinking to the point of being almost instantaneous. Mobile wallets and new features such as Request for Payment (RFP) are further enriching the payments landscape. Faster payment processing and the introduction of new payment models is consistent with, and essential to, facilitating changing procurement and sales models and evolving customer demand. However, there are a variety of implications for treasurers. Treasury processes and controls need to become ‘real time’, but equally, new approaches to liquidity management are required as liquidity dynamics shift and accelerate.