The Bacs payment system in the UK is one of the best methods to make large payments. It is mainly used to pay salaries, benefits and dividends, or make supplier payments directly to their bank accounts. In 2020, Bacs processed 6.5 billion payments, at a value of £4.9 trillion. In 2021, Bacs processed over 4.6 billion Direct Debit payments. Read more about Bacs and how to use it in your business.

Real-time payments are changing the game for business payments in Europe. Countries round the world are investing in real-time payments infrastructure so that more people and businesses can benefit from them. The speed and convenience of real-time payments have been the primary drivers behind their rapid growth. Read more about how they work and how you can use them.

Payment automation can radically transform your business payments, helping you to settle your bills on time. This leads to improved relationships with your suppliers, reduced fraud risks, and cost savings. Yet, a lot of businesses are stuck with manual processes, which are not only tedious and less effective, but costly as well. Automating your accounts payable process can yield tremendous benefits for your business. Learn more in this blog.

An international wire transfer is a method to transfer funds electronically from a bank account in one country to another bank account in a different country. It is also known as international bank transfer or credit transfer. A bank wire transfer is one of the safest ways to send cross-border payments. This blog tells you how international wire transfers work and how to use them in your business.

Being successful in a competitive market is difficult due to lack of clarity, long admin processes, and high costs of traditional banking. Fortunately, with the advent of PSD2 and open banking, much of this has changed. They brought about convenient and personalized digital banking. Here’s how open banking APIs open up new channels of revenue growth for your business.

Digital and alternative payment methods are hugely popular amongst consumers today. Biometrics helps a business to verify that a user is genuine and prevent fraud, thus ensuring customers enjoy a secure checkout experience. Learn how biometrics keeps these payments secure from fraud.

All businesses need to keep track of payments that are due. From sending bills to ensuring there is no outstanding debt, accounts receivable (AR) is the process of making sure your payments are cleared on time. Automating your accounts receivable process makes it easier to track and collect payments and protects your business from credit risks. Learn more about why it is essential for modern businesses.

Real-time payments are instant payments that can be made between two bank accounts, at any time, any day of the year. Real-time payments make your B2B payments a breeze. But what are they and how do they work? Why use real-time payments? Who uses real-time payments? Find out more in this blog.

The mission of Novalnet is to help businesses to thrive by developing innovative payment solutions and financial management tools. As part of this endeavour, we are releasing a series of articles to help build better workplaces and so better businesses. “Leveraging Neuroscience in the Workplace” is the first article of this series.

Cross-border payments are simpler and safer when you use a global payments platform. But there are several variables at play when it comes to cross-border payments. Navigating these are important to make the most out of your international payments. This blog tells you how to choose the right one for your business.

Does your business need help with making international payments? Not having the right practices can slow down your cross-border payments process, and impact productivity, raise costs, and strain your relationship with suppliers. But these issues can be resolved by applying the right best practices and technology. This blog outlines best practices to handle cross-border payments.

Digital payments growth accelerated across the world in 2022. Many of the payment trends that ruled last year will continue to play a major role in 2023. What are the insights on key trends that will define global payments in 2023? Read on to know what will shape payments this year.