How Does A B2B Payment Gateway Work?

When you run a B2B company, it is probably fair to say that payment processing is not going to be your primary concern. However, when it comes to the key components of running your business – driving up sales, improving customer relations, and streamlining processes – your payment processing systems have a major role to play in all of them. Your B2B payment gateway could be the cause of your problems and is one area in which you may need to make changes if you want to taste success.

How Can a B2B Payment Gateway Affect A Company?

If your B2B payment gateway lacks the necessary advanced functionality to cope with the demands of your company, it will be holding back online sales. If there is a lack of variety in available payment options or there is no way of supporting telephone orders, the payment processor that you have in place may well lack the essential tools to allow your customers to have a high-quality experience.

If your customers are unable to pay using their preferred method, or your processing platform does not enable you to handle new orders within your existing business software, it is no wonder that your company is struggling to survive in today’s competitive business-to-business marketplace.

The Benefits of Electronic B2B Payments

If you feel that your current B2B payments process is too complex and time-consuming, electronic payments are the way to go. These payments speed up the process and can help to solve any issues that you are experiencing surrounding cash flow while minimizing the impact that unsuccessful payments can have on the business. As an added benefit, your accounting and finance teams will have a greatly reduced workload and customers will also enjoy the convenience that an electronic system can bring, guaranteeing smoother and more positive B2B working relationships.

How Do Electronic B2B Payment Gateways Work?

By offering a virtual terminal, a B2B payment gateway enables merchants to accept a variety of payment options, including ACH payments or credit and debit cards through fax, e-mail or telephone. This means that payments are able to be accepted in any location as long as there is a functioning web browser for the ultimate in convenience.

Alternatively, an online payment portal enables customers to control their payment process themselves by using a device that is Internet-enabled to enter their own payment details in order to complete their purchase.

By accepting a range of payment methods, such as ACH payments and popular debit and credit cards, customers find it easier to complete their purchase. When they can make that purchase at the time of their choosing and without having to jump through unnecessary hoops, B2B companies will only benefit.

Integration and Security

One of the things that needs to be borne in mind with any B2B payment gateway is whether or not it can seamlessly integrate with existing business software. BillingTree’s innovative solutions are capable of integrating with all of your popular existing systems, ensuring maximum efficiency and flexibility.

Security is also always going to be an issue when processing B2B payments. BillingTree’s payment gateway can handle all financial transactions in complete compliance with the PCI, SSAE-16 and HIPAA standards for the peace of mind of all the parties involved.

As an innovative and reliable solution, BillingTree’s B2B payment gateway is a great choice for B2B companies of all sizes that are looking for a user-friendly and advanced way of processing customer payments and that is in compliance with the required standards and that has been fully tested for functionality and QA.