Anticipating Future Changes
The continuous evolution of the payments landscape creates both opportunities and risks for treasury practitioners. The emergence of stablecoins — alongside developments such as CBDCs — is one example of a change likely to have a significant impact on corporate payments.
Stablecoins are tokenized assets pegged to the value of fiat currencies (e.g., the U.S. dollar). These tokens can be transferred via blockchain, thereby eliminating much of the friction and uncertainty associated with traditional payment methods. Practical use cases include near-real-time cross-border transactions, automated cash management and smart contracts (e.g., in trade finance). As regulatory frameworks become more defined, adoption is likely to increase.
Treasury practitioners should stay engaged with these and other developments to identify and take advantage of those most relevant to their organizations.
KEY TAKEAWAYS
There are a number of actions treasury practitioners can take to adopt a more efficient payments strategy while improving their management of payment risk. These include:
1
Review existing policies and procedures
The new Nacha rules require ACH originators to do so to help reduce the incidence of credit-push fraud. Companies should also recognize that they may face losses if a payment is initiated in error or as a result of fraud and the funds cannot be recovered.
2
Standardize processes where possible
Having a single set of processes makes it easier to train team members, reducing the risk error and improving control.
3
Automate
Eliminating manual intervention reduces the risk of error and creates a more scalable solution.
4
Stay vigilant against fraud
Adopting a mindset that assumes attempts will occur helps reduce complacency and encourages consistent verification of information.
About the Authors
Guy Voizey WWCP Ltd
Guy Voizey has been a financial writer and editor for over 20 years. He is a director of WWCP Ltd, a research and publishing company, which specializes in the provision of information and editorial on corporate treasury and cash management. Guy wrote (or co-wrote) four books co-published by WWCP. In addition, Guy has also written over 20 executive and other guides for AFP, covering a range of topics, including liquidity management, cybersecurity, capital structure, taxation, and accounting. Guy edited the AFP’s Essentials of Treasury Management (7th edition).
Tom Hunt, CTP Director, Treasury Services and Payments Association for Financial Professionals
Tom Hunt, CTP, is the Director of Treasury Services at the Association for Financial Professionals. Hunt has more than 15 years of direct treasury experience working across different industries, including various roles at Medtronic, Fairview Health Systems and, most recently, at 3M Company. At 3M, he oversaw the global banking strategy, redesigned and implemented a new domestic cash management structure and led acquisition activities for the treasury department. He holds an MBA in finance from the Opus College of Business at the University of St. Thomas in St. Paul, MN.
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Association for Financial Professionals: AFP Payments Guide: Revisiting Your Payments Strategy Copyright 2026 by the Association for Financial Professionals (AFP). All Rights Reserved.
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