You might think now would be the perfect time for businesses to hit the brakes and take a breather. After all, the headlines are filled with geopolitical conflicts, trade finance upheavals, shifting regulatory landscapes, and the not-so-distant memory of a global pandemic. Uncertainty these days feels more like the rule than the exception.
In reality, companies aren’t in a position to go on “vacation.” They can’t simply pause critical operations just because the outlook is hazy. No matter what new tariff is introduced or what regulation looms on the horizon, businesses still have to pay their suppliers and employees, keep their systems up-to-date, and continue serving customers.
In fact, this determination to keep moving forward was a key theme in a recent discussion with two leaders in the payments industry. PYMNTS CEO Karen Webster sat down with Dean Leavitt, CEO of Boost Payment Solutions, and Drew Edwards, CEO of Ingo Payments, as part of PYMNTS’ Certainty Project series. Rather than focusing on how consumers are coping with economic jitters, their conversation centered on how companies plan to forge ahead. They explored strategies for thriving amid volatility—covering everything from cross-border payment hurdles to the push for digital modernization. Despite all the unknowns swirling around, the tone remained upbeat: uncertainty might be unavoidable, but business carries on, and new opportunities are waiting in the wings.
For context, both Leavitt and Edwards operate behind the scenes in the payments world. Ingo Payments concentrates on powering “money mobility” – enabling funds to move quickly through new digital pathways and ecosystems. Boost Payment Solutions, for its part, specializes in automating B2B payments and helping companies maximize the use of commercial cards. With a footprint spanning 182 countries, Boost has a global perspective — and lately Leavitt has seen the need to rethink some cross-border activities given the current climate. He noted that U.S. companies paying overseas suppliers are showing some hesitation. Many are taking a “wait-and-see” approach as they gauge how potential tariffs will shake out before committing to certain international transactions.
Edwards, whose firm primarily facilitates domestic, real-time fund movements, says geopolitical turbulence hasn’t dramatically hit his core business so far. Because Ingo’s model doesn’t rely on direct consumer spending, broader economic jitters might cause a slight ebb in overall demand, but he hasn’t seen any significant ripple effect reach his operations yet. That said, Edwards is noticing a more cautious stance among corporate clients — especially in the tech sector. Some firms are preemptively tightening their belts (through hiring freezes or early layoffs), a move that can slow down tech projects and product roadmaps.
Even with these headwinds — whether cross-border friction or inflation fears — both CEOs stressed that keeping the business running is what matters most. In other words, continuity is king. Companies know they must preserve their supplier networks if they want to stay competitive. In fact, the uncertainty is often encouraging firms to double down on digitization, since using modern payment tools can actually strengthen partnerships and help secure those all-important supply chains.
Finance Leaders Step Up Amid Uncertainty
As the discussion turned to how companies can “uncertainty-proof” their operations, the spotlight shifted to the finance chiefs in the C-suite. Today’s chief financial officers (CFOs) and corporate treasurers have become key strategic players in guiding companies through choppy economic waters. They’re no longer seen as mere number-crunchers; instead, they’re expected to act as navigators steering the enterprise through the storm.
With forecasting models and scenario-planning tools more sophisticated than ever, finance leaders are examining all their options when it comes to managing cash and payments. Edwards noted that a few years ago his team often had to start by explaining the basics of digital payments to clients. Now those conversations have flipped. CFOs and treasurers are coming to the table eager to optimize their payment processes. They’re asking how to make operations more cost-effective, how to drive customer loyalty through better payment experiences, and even whether a function that used to be a cost center (like payments) can be transformed into a source of revenue or competitive advantage.
No one is suggesting that CFOs have completely reinvented their day-to-day duties overnight. But Leavitt and Edwards both observed a clear trend: finance teams are far more interested in deploying digital solutions and innovative business models than they were even a couple of years ago. This shift aligns with a bigger objective in uncertain times – staying agile and preserving cash. When the economy is unpredictable, being able to adapt quickly and keep cash flowing can make the difference between riding out the storm or capsizing.
Modern CFOs and treasurers also find themselves wearing the risk manager’s hat more often. The spectrum of risks they worry about has broadened beyond just catching payment fraud. Partners and vendors can become liabilities, too — if a critical supplier isn’t financially stable or fails to comply with regulations, their trouble can quickly become your trouble. And with regulators sharpening their focus on banks and fintechs, compliance issues have muscled their way into the conversation as well. Edwards described a multi-pronged approach to risk management, essentially covering a few key areas of concern:
- Fraud Risk: The classic threat of payments fraud remains very real and can be costly if not controlled.
- Vendor Risk: In volatile cycles, companies that are thinly capitalized or weak in compliance can falter, so firms must be wary of the financial health and stability of their partners.
- Regulatory Risk: Heightened scrutiny from regulators — particularly in banking and fintech — means compliance missteps or sudden regulatory changes can pose serious challenges.
With new variables like international tariffs in play, it’s too early to predict every outcome. However, one thing is clear: risk management is now front and center for finance teams navigating uncertainty.
In such an environment, Leavitt added, companies naturally gravitate toward partners that offer stability and security. Established payment solution providers have become especially attractive because they instill confidence. “Part of our job is to create trust,” Leavitt said. When uncertainty rises, businesses tend to make a “flight to safety,” seeking out service partners with a proven track record of reliability. He pointed out that Boost’s long-standing relationships with major financial institutions signal to clients that his company will remain a safe, consistent partner even when conditions get rocky.
Payments Modernization Takes Priority
The upheavals of the past few years have only underscored the need to modernize how payments are done. The chaos of COVID-19 and recent geopolitical tensions have accelerated a shift that was already underway: moving away from old-school payment methods toward faster, digital alternatives. In this climate, the old mantra of “if it isn’t broken, don’t fix it” simply doesn’t hold up — especially when paper checks and other legacy processes are prone to delays and a lack of transparency.
Both executives confirmed that the migration to digital payment formats is in full swing, with no signs of retreat. Edwards quipped that none of his clients have responded to recession worries by deciding to stick with printing paper checks. A few years ago, the idea of completely digitizing B2B payments might have seemed radical; today it’s increasingly standard practice. This is especially true for things like real-time payouts and using commercial cards for B2B transactions, which are becoming more the norm than the exception.
Leavitt noted that in the business-to-business arena, long contractual payment terms mean there isn’t always an immediatedemand for instant payments in every case. Still, even in B2B, companies are steadily moving toward digital processes. Many suppliers won’t hesitate to opt for quicker digital settlement if it means faster access to cash. As Leavitt explained, a bill might officially be due in 30 days, yet buyers often wait 45 or even 60 days to actually pay. If a digital option — say, accepting a commercial card or other online payment solution — guarantees a supplier gets paid on day 30, they’re very likely to jump at it for the sake of their own working capital needs.
Embracing new technology has become one of the best ways to ride out market ups and downs. Edwards observed that in this environment, the pressure to modernize payments and streamline money flows is greatly amplified. Every CFO he talks to is intent on staying relevant and cutting costs — or even finding ways to turn a traditional cost center into a revenue generator. In other words, tough times are actually motivating companies to innovate faster, not slower.
From the Pandemic to the Present: Uncertainty Then and Now
No conversation about uncertainty would be complete without looking back at the most jarring disruption in recent memory: the COVID-19 pandemic. There are a few parallels between that crisis and today’s climate. Both brought sudden supply chain bottlenecks and broad economic tremors, and both left businesses guessing about when a sense of normalcy would return (and what new regulations might emerge next). However, Leavitt and Edwards were clear that the current wave of uncertainty is not a repeat of those chaotic early pandemic days.
Unlike COVID, which shut down whole economies virtually overnight, today’s challenges are emerging more gradually. We’re dealing with rolling changes — like incremental shifts in cross-border tariffs, a steady drip of new regulations, and the looming possibility of a downturn — rather than an abrupt, global standstill. In short, this is a different kind of uncertainty: more drawn-out and evolutionary, as opposed to the sudden shock of 2020.
For Edwards, the difference also lies in how demand dynamics have changed. He reminisced that, ironically, the early pandemic period turned into a boom on the consumer side of the economy: governments were injecting stimulus and money was flowing freely. People and businesses were moving funds digitally at unprecedented rates, and parts of Ingo’s business soared as a result. Now, by contrast, the concern isn’t about keeping up with a flood of demand, but about the opposite. If consumers and companies become skittish and cut back spending, overall demand could shrink — a completely different challenge compared to the cash-rich environment during COVID-19.
Yet despite the differences, the pandemic did leave businesses with some valuable lessons. Webster noted that companies learned to be extremely resourceful — or “scrappy,” as she put it — when COVID-19 hit, finding creative ways to adapt under pressure. Firms that quickly embraced digital workflows and novel ways of moving money emerged leaner and more agile, better prepared to handle the next curveball. That cultural shift, toward staying nimble and open to change, has stuck around and become a source of confidence for many organizations.
In fact, Edwards emphasized that the current environment has placed a spotlight on the importance of continued innovation. He argued that businesses which keep investing in new technology and process improvements now will end up better positioned than their peers by the time the dust settles on this period of uncertainty. In other words, the companies using these uncertain times to streamline, automate, and modernize are likely to come out ahead of the packwhen stability eventually returns.
Optimism Amid Uncertainty
With all the talk of tariffs, tensions, and economic headwinds, one might wonder whether companies will hunker down to wait things out or charge forward with innovation. According to these payments industry leaders, it appears many firms are choosing to forge ahead. If the pandemic taught businesses anything, it’s that uncertainty is inevitable — but agility and resilience are very much a choice. By pressing on with digitization, empowering finance teams to be strategic, and leaning into secure partnerships, companies can continue to move forward despite the unpredictability around them.
Webster is among those betting on the bright side. She maintained that there is good reason to be optimistic and emphasized that plenty of opportunities remain, even in trying times, for companies willing to seek them out and seize them.
Edwards echoed that confidence when considering the possibility of another major shock to the system. He pointed out that the world today is not the same as it was in early 2020 – businesses have adapted and grown more resilient. Companies got scrappy during the pandemic, he said, and that mindset isn’t going away. In fact, “we’re all in better shape to handle the next storm,” Edwards noted.
In sum, uncertainty may indeed be the new normal, but businesses have learned how to keep moving. Armed with digital tools, a strategic finance playbook, and partnerships built on trust, they’re not just surviving in this environment — they’re finding ways to thrive.