The existence of one in six companies is threatened by delayed and default payments - which are countered by price increases, job losses and not investing. Modern payment methods are still rarely offered. This is demonstrated by the representative “European payment habits” 2018 EOS study.
The importance of prompt receivable payment is seen in the consequences of default and delays for the liquidity and capital strength of the affected companies. Nearly one in four companies try to reduce the financial damage with job losses and a recruitment stop (24%) as well as price increases (23%). Another common measure is to waive investments (13% of companies). Late payments or not paying a debt creates a classic boomerang effect that affects the whole company.
Modern digital payment methods are still not very common. Only online transfers via third party suppliers (e.g. Twint, Paypal etc.) are gradually increasing; 28% of companies offer this payment method. These are probably mainly suppliers of online and offline shops with a high volume of small purchases. With 3 to 5% distribution, mobile payments and eWallets are still completely insignificant. Crypto-currencies are on everybody’s lips but only one percent offer the relevant payment options. By the way, in this regard Switzerland is no better than other European countries.
Additional results from the study in the magazine on this website: https://ch.eos-solutions.com/press/infographics.html
The Europe-wide results of the “European Payment Habits 2018” EOS study: https://de.eos-solutions.com/en/press/surveys.html#paymentpractices2018