Online Payments for B2B Payment Processing

Running a business is never easy. There is a lot to think about and do daily. That means when you are running a B2B company, you are probably not focusing on payment processing. Instead, you are more likely to concern yourself with finding a way to improve your sales and profitability. There are several important aspects to running any B2B organization. Improving experiences for the customer, streamlining business processes, and removing any obstacles impeding sales are just some of them. However, it is important not to overlook the significance of B2B payment processing for your organization.

Why Is Payment Processing So Important?

For any B2B company, it is important to recognize that B2B payment processing has a vital role to play. In fact, payment processing helps to address all the challenges mentioned above. Why? Let’s look.

  • Your online sales could stall without a payment gateway with advanced functionality. A lack of a high-quality system for authorizing payments will restrict your company’s potential.
  • Your method of accepting payments could be forming another obstacle that can impede your sales. The options you are offering may not be extensive enough. If you have no website, your payment gateway may be unable to support telephone orders or receive payments via the IVR system.
  • You may be lacking the correct tools to allow for a seamless consumer experience. Are buyers able to make payments in several ways? Do you have a payment platform that enables you to accept orders using your existing business software? The right B2B payment processing system will make it a breeze for customers to buy without thinking about it.

Electronic Payments – The Way Forward for B2B

For some time now, B2C payments have moved into the electronic sphere. Now, B2B payment processing is finally moving the same way. Online payment systems speed the payment process exponentially. Paper-based traditional payments are very slow. However, online solutions solve your company’s cash flow problems. There are other reasons why electronic B2B payments are the way forward.

  • They minimize unsuccessful payments in terms of impact.
  • They reduce the workload for accounting and finance teams.
  • Customers enjoy greater convenience.

How Does BillingTree’s B2B Payment Processing Solution Work?

BillingTree’s B2B electronic payment processing solution works by offering an online payment portal or virtual terminal. Merchants can accept debit, credit, and ACH payments with ease. Any web browser can accept payments at any time of the day. Payments are also made in real time for instant confirmation.

B2B electronic payments work in the same way as electronic B2C payments. Basically, the gateway will capture the transaction request, encrypt the payment details, and, then, route it to the acquiring bank. Then, the bank will take ownership and obtain authorization. The issuing bank will assess the request and determine whether enough funds are available. Assuming there is, the bank will transmit the payment.

BillingTree’s B2B payment solutions accept most popular debit and credit cards, as well as ACH payments. Even better, BillingTree’s gateway integrates seamlessly with other popular business software. This makes the process of collecting payments even more efficient.

How Secure Are Online B2B Payments?

Since the BillingTree payment gateway handles the debit and credit card transactions, you can rest assured all payments are safe. BillingTree’s solutions are all PCI-compliant and highly secure. This is a great benefit since obtaining PCI compliance independently is burdensome and costly. With BillingTree, security certification is guaranteed. With full HIPAA, SSAE-16, and PCI compliance in place, companies can have peace of mind.

Do Recurring Payments Work Online?

BillingTree can handle subscription-based sales or recurring payments easily. In fact, they are just as simple as a regular sales order. BillingTree can automatically initiate annual, quarterly or monthly payments to suit your company’s needs. With a convenient payment portal, it is possible to set up a convenient payment plan for customers. Customers only need to submit their payment details once. Even better, with the Account Updater Service, those details can be automatically updated to save time and effort.

Are You Ready to Start B2B Payment Processing with BillingTree?

If you are convinced of the benefits of electronic B2B payment processing, BillingTree is the answer. Contact us today to find out more about what we can offer your organization. Our cutting-edge payment gateway will revolutionize the way your company receives B2B payments. Not only will your organization be more profitable, but your customers will enjoy a more seamless experience. The advantages are clear when compared with old-fashioned manual systems. With online functionality and the ease of accepting recurring payments, BillingTree simplifies the process of speeding up cash flow. Electronic payments are not only for B2C transactions. Now, your B2B sales can also benefit from today’s advanced online solutions. Reap the benefits and see your company’s profits increase.