The Distillery #10: New B2B Payment Trends & Did WhatsApp Just Kill A2P SMS?
Welcome to the 10th issue of The Distillery! In addition to our usual analysis and industry insights, we've got two announcements:
- Our Fintech & Payments awards close tomorrow! If you’re transforming banking, redefining payments, or setting new standards in fraud and security, now’s the time to get that application in.
- We're giving away a whitepaper. But the twist? You get to decide the topic. Read on to find out more...
Also in this edition:
- The UK is cracking down on late invoices - here's the fintech players that'll benefit most
- WhatsApp’s new pricing shake-up takes aim at SMS
- How stablecoins, embedded finance, and virtual cards are rewriting B2B payments
FINTECH & PAYMENTS
UK Treasury Warns Big Business to Stop Ghosting Their Suppliers
From 2026, large UK companies could face hefty fines if they routinely pay suppliers late — part of a government push to tackle what Business Secretary Jonathan Reynolds calls the “number one” issue for small businesses.
Over 70% of UK SMEs experienced delayed payments in Q1 2025, according to the Federation of Small Businesses. That’s a serious issue for firms operating on tight margins, with limited cash reserves to buffer late income. Under the new rules, companies with more than 250 employees will be fined if over 25% of their invoices are paid late in any six-month period. The fine? Double the amount owed in late payment interest.
Distilled...
🟣 Accounts Payable automation is no longer optional. Manual processing and legacy systems are the root of many late payments. With financial penalties now on the table, large firms will be under pressure to modernise. That means automated invoice approvals, digital reconciliation, and payment flows that don’t bottleneck at human checkpoints.
🟣 Virtual card providers are well positioned to benefit. By removing manual approvals and enabling faster, more secure payments, virtual cards solve several pain points in one move — from late payments to fraud risk. Many cards are also merchant-locked and single-use, reducing the risk of fraud and unauthorised spending.
🟣 End-to-end payables platforms could become essential infrastructure. Fintechs such as Airwallex, Tipalti, and Pleo offer full-service solutions that tackle every stage of the payables process. That includes AI-powered invoice scanning, automatic matching, and direct integration with ERP systems to streamline reconciliation. They also support multi-currency accounts and automated tax compliance — all essential for firms managing complex, cross-border payments.
CELEBRATE GOOD TIMES
Happy 10th Birthday to Us!
To celebrate, we’re giving away a brand new whitepaper - and we want you to choose the topic.
We’ve shortlisted some of the most exciting emerging markets in fintech, telecoms, and technology. Cast your vote below, and we’ll turn the winner into a free research paper, packed with insight and delivered straight to your inbox.
Choose from:
FINTECH & PAYMENTS
- Agentic Commerce: Explores the rise of agentic commerce, where AI-powered agents make autonomous purchasing decisions on behalf of consumers, and examine its implications for retailers, brands, and the future of digital commerce.
- Asset Tokenisation: Analyses the growing adoption of asset tokenisation; highlighting how blockchain is transforming the way physical and financial assets are created, traded, and managed.
TELECOMS & CONNECTIVITY
- AI Agents: Investigates the evolution of AI agents; assessing their potential to automate complex tasks, personalise digital experiences, and reshape business operations.
- MVNOs: Explores the shifting role of MVNOs (Mobile Virtual Network Operators) in an increasingly competitive telecoms landscape; identifying new strategies for differentiation and growth.
EMERGING TECHNOLOGY
- Quantum Monetisation: Evaluates the future commercial potential of quantum technologies; outlining monetisation pathways, use cases, and early investment opportunities.
- Robotaxis: Analyses the progress of autonomous ride-hailing services; focusing on regulatory challenges, operational models, and the long-term outlook for robotaxis.
TELECOMS & CONNECTIVITY
WhatsApp Takes Aim at SMS with Major Pricing Overhaul
Last month, WhatsApp rolled out a major change to its pricing model; shifting to per-message charges and dramatically cutting the cost of authentication traffic — a clear move to challenge A2P SMS dominance.
The new model also allows businesses to respond to users within a 24-hour window using free-form or utility templates, without incurring additional charges; removing a key barrier to conversational messaging.
Distilled...
🟣 Authentication traffic is heading for WhatsApp. WhatsApp is now allowing enterprises send OTPs at just 15–30% of the cost of an equivalent SMS in key markets such as Brazil, India, and Indonesia. That’s a game-changer for large enterprises looking to cut messaging costs. Expect to see more businesses routing OTPs through WhatsApp first, with SMS as a fallback only when needed.
🟣 Conversational messaging is set to accelerate. By removing charges for replies during the 24-hour service window, WhatsApp is nudging businesses toward two-way conversations — not just one-way notifications. As we note in our latest research, this opens the door to new use cases in customer service, post-purchase engagement, and conversational commerce.
🟣 AI will be key to scaling this shift. As message volumes grow, businesses will increasingly rely on AI agents to automate customer interactions across WhatsApp. From handling FAQs to managing entire sales flows, AI-powered chatbots are quickly becoming a core part of the channel’s value proposition.
FINTECH & PAYMENTS
Here's Three B2B Payment Trends to Watch in 2025 & Beyond
The global value of B2B payment transactions is set to soar past $224 trillion by 2030 — but the real story isn’t just the volume, it’s the transformation in how those payments are being made.
To mark the release of our latest B2B payments research, we’re spotlighting three disruptive shifts in how money moves between businesses — from stablecoins shaking up cross-border flows to embedded finance redefining how B2Bs access credit.
🟣 Stablecoins are entering the mainstream. Once seen as niche, stablecoins are now gaining real traction in B2B payments; particularly for cross-border trade. In regions burdened by tariffs, FX volatility, or payment delays, stablecoins offer a faster, cheaper, and more transparent alternative. By sidestepping traditional intermediaries, they’re reducing friction and opening up new international B2B opportunities.
🟣 Embedded finance is becoming critical. While often discussed in the consumer context, embedded finance is now making its biggest impact in B2B. Platforms are integrating payments, lending, and credit solutions directly into workflows; enabling smaller businesses to access financial tools where and when they need them. This shift is reducing dependency on traditional banks and reshaping how businesses access capital and move money.
🟣 Our old friend, virtual cards, makes another appearance. Cards remain a familiar tool, but their role in B2B is accelerating fast. We're forecasting a 17.5% CAGR for B2B card payments between 2025 and 2030; largely driven by virtual cards. These offer enhanced control, real-time approvals, and better fraud protection — and they’re increasingly displacing slower, more manual methods such as cheques and cash.
Latest research, whitepapers & press releases
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ReportSeptember 2025Fintech & Payments
Instant Payments Market: 2025-2030
Juniper Research’s Instant Payments research suite provides a wide-ranging and strategic analysis of this market; enabling stakeholders - from banks, infrastructure providers, regulators, and businesses - to understand future growth, key trends, and the competitive environment.
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Anti-money Laundering Systems Market: 2025-2030
Our AML Systems research suite provides a detailed and insightful analysis of this evolving market; enabling stakeholders from financial institutions, law enforcement agencies, regulatory bodies and technology vendors to understand future growth, key trends, and the competitive environment.
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A2A Payments Market: 2025-2030
Our A2A Payments research suite provides detailed analysis of this rapidly changing market; enabling A2A payments service providers to gain an understanding of key payment trends and challenges, potential growth opportunities, and the competitive environment.
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ReportSeptember 2025Telecoms & Connectivity
Mobile Messaging Fraud Prevention Market: 2025-2030
Our Mobile Messaging Fraud Prevention research suite provides a detailed and insightful analysis of a market set for significant disruption over the next five years. It enables stakeholders from mobile operators, enterprises, and mobile messaging fraud prevention vendors to understand how the market for mobile messaging fraud will evolve, as well as the impact of AI, RCS, and the evolving competitive environment.
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ReportSeptember 2025Sustainability & Smart Cities
Smart Grid Market: 2025-2030
Our cutting-edge Smart Grid research suite provides a comprehensive view of a market at the forefront of the global energy transition. It examines the major disruptions transforming the sector, from the integration of distributed energy resources and the rise of virtual power plants to the growing role of AI-driven intelligence and the mounting need for robust cyber security and compliance.
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ReportSeptember 2025Fintech & Payments
eCommerce Payments Market: 2025-2030
Juniper Research’s eCommerce Payments research suite provides a comprehensive and insightful analysis of this market; enabling stakeholders, from eCommerce payment platform providers to merchants and payment service providers, to understand future growth, key trends, and the competitive environment.
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WhitepaperSeptember 2025Fintech & Payments
Core Banking Transformation - A Strategic Conversation with SAP Fioneer
Core banking transformation is no longer optional, as regulatory change, rising compliance costs, and shifting customer expectations make legacy systems unsustainable. Anna Koritz, Global Head of Transaction Banking at SAP Fioneer, shares how banks can overcome cultural and technical hurdles and why SAP Fioneer’s modular, cloud-ready approach enables confident modernisation.
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WhitepaperSeptember 2025Fintech & Payments
From Detection to Prevention: The Next Era of Anti-money Laundering
Our complimentary whitepaper, From Detection to Prevention: The Next Era of Anti-money Laundering, examines the state of the AML systems market; considering the impact that a changing regulatory environment and a growing number of use cases is having on the market. Additionally, it includes a forecast summary of the total value of the AML systems market in 2030.
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WhitepaperSeptember 2025Fintech & Payments
Ascending-to-Ailing: The Deceleration of A2A Adoption
Our complimentary whitepaper, Ascending-to-Ailing: The Deceleration of A2A Adoption, examines the state of the A2A payments market; considering the impact of this payment method and how it is shaping the modern payments landscape through lower fees and enriched user experience.
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WhitepaperSeptember 2025Telecoms & Connectivity
RCS Fraud: Emerging Threats in Next-gen Messaging
Our complimentary whitepaper, RCS Fraud: Emerging Threats in Next-gen Messaging, examines the future of the messaging fraud prevention market, with a particular focus on the latest trends within RCS Business Messaging (RBM). Additionally, it includes a forecast summary of the total cost of fraud over RBM to subscribers in 2030.
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WhitepaperSeptember 2025
Decentralising the Smart Grid: Opportunities & Challenges
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WhitepaperSeptember 2025Fintech & Payments
Going Glocal ~ Why Local Payment Methods Are Driving eCommerce
Our complimentary whitepaper, Going Glocal ~ Why Local Payment Methods Are Driving eCommerce, assesses how local payment methods are driving the increasing accessibility to eCommerce, and challenges to eCommerce growth.
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Fintech & Payments
AML Systems Market to Surpass $75 Billion by 2030 Globally, With LexisNexis Risk Solutions, Oracle, and Experian Leading the Defence
September 2025 -
Fintech & Payments
B2B Payments to Hit $224 Trillion by 2030 Globally, Driven by Emerging Market Expansion
September 2025 -
Fintech & Payments
A2A Transaction Value to Reach $195 Trillion in 2030 Globally, Driven by Advanced Value-added Services
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Telecoms & Connectivity
ReveNet: Operators Must Act to Restore Trust & Transparency to $55bn A2P SMS Ecosystem
September 2025 -
Telecoms & Connectivity
RCS Business Messaging Fraud to Cost Mobile Subscribers $4.3 Billion Globally Over the Next 5 Years
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Sustainability & Smart Cities
Smart Grids to Support 43% of Global Electricity Supply by 2030, Driven by Virtual Power Plants
September 2025