Peer to Peer networks: Applying the Pareto Principle to optimize your payments
- Money transfer
- International payments
The pareto principle, popularly known as the 80-20-rule, states that 80% of the outcomes are decided by 20% of activities or factors. Whether it is in inventory, product, or supplier management – focusing on the 20% is vital if you want to boost your business efficiency. Likewise, this can be applied to your global payment networks: in most companies, 20% of the suppliers represent 80% of the whole transaction volume.
Focus on what’s most important
Since time and resources of every company are scarce, being able to prioritize proves to be a necessary skill of every successful entrepreneur. Attributed to the Italian Economist Vilfredo Pareto who in the 19th century first described the imbalance between activities/factors and the associated outcomes, the Pareto Principle is a useful rule of thumb that helps companies focusing on what is important.
The distribution, which states that 80% of the output is achieved by an input of only 20%, can also be observed in our everyday business at amnis as around 80% of our customers’ transactions involve roughly the same 20% of their business partners. Building on this experience, we have created our PEER solution that enables customers to create their own peer to peer network and directly pay their beneficiaries without any financial intermediaries who could delay or block the process.
Hence, companies integrated in a peer to peer network at amnis profit from easy, instant and commission free transactions within their network. The shared benefits within the peer to peer network among connected partners is a competitive advantage for all members.
Benefits of the peer to peer network
- One-klick invitation of your business partners & easy setup
- Instant transactions 24/7
- Free peer to peer payments without hidden fees
Within your payment network, every step can be optimized to make international money transfers as simple and fast as possible. In a few seconds, you can execute a secure payment, which is always free: no costs, no hidden fees. Moreover, your beneficiaries receive the due amount in real-time, even on weekends, via the amnis’ peer-to-peer payment rails. This means that you can send but also receive funds to and from any business party around the globe instantly 24/7.
How to create a peer to peer network
To invite your business partners to your peer to peer network, simply send them an automatically generated invitation with further information on amnis and a link to the same-day registration. You can do so by heading to the “Contacts” section in your amnis WebApp. Your amnis accounts will then be linked automatically to the P2P network.
In case your business partner is already a registered amnis customer, please get in touch with us so we can establish the connection to your peer to peer network.
Optimizing global payments with your most valuable business partners
The peer to peer network enables you to enhance cooperation with your most valuable business partners, following the core ideas of the 80-20 rule, by providing a free and instant payment tool for the 20% that represent 80% of your global payment transaction volume. Thus, the vast majority of your payments will be optimized since funds can be moved easily, instantly, and free of charge from one account to the another.
If, like in most SMEs, 20% of your suppliers represent 80% of your transaction volume, building your own peer to peer payment network to instantly process supplier and intragroup payments is a huge advantage. Learn more about peer to peer payments here: