This paper provides perspectives on recent progress in the understanding of the physics of devices where the external magnetic field is applied perpendicularly to the discharge current. This configuration generates a strong electric field, which acts to accelerates ions. The many applications of this set up include generation of thrust for spacecraft propulsion and the separation of species in plasma mass separation devices. These "E×B" plasmas are subject to plasma-wall interaction effects as well as various micro and macro instabilities, and in many devices, we observe the emergence of anomalous transport. This perspective presents the current understanding of the physics of these phenomena, state-of-the-art computational results, identifies critical questions, and suggests directions for future research.