idea #019: B2B ACH
Paypal for big sums.
I grew up in the Construction industry working on some of the most complex, expensive jobs in the world, and one reoccurring problem was managing payments, especially when those monthly invoices are above 7 figures, and you have to coordinate between multiple subcontractors and the owner.
You first have the payment applications, invoice process, review, some workflow with accounting/finance/AP and then 30 or 60 days later, the payment is processed. Lots of inefficiency here.
There is a ton of space for innovation in this unsexy function of construction, and what I imagine in pretty much every business. There is a fintech revolution happening, but from what I can tell and looking at at least 30+ different startups for a solution here, no one is looking at this at scale.
Facilitating and coordinating these payments should be as simple as using Paypal or Venmo, where funds can be tracked, secured, and arrive immediately, without incurring any of the 1-3% processing fees that are common with existing payment platforms such as Stripe or Square that are consumer focused. There are some companies like Tipalti that are nibbling around the edges but not addressing the core process inefficiency.
Perhaps this is some crypto/blockchain-esque solution, or Paypal can extend more into the B2B space...either way, reducing the time that large sums of money are sitting idle is a good thing, especially when it also produces new internal efficiencies.