The Truth About B2B Payment Systems

B2B businesses face many obstacles in the modern marketplace. Competition is high, so it is paramount to find ways to stay ahead of business rivals. Finding the right B2B payment systems could be the answer. However, some B2B business owners are highly skeptical of these systems. They have heard many things that have concerned them. They wonder whether these solutions would be right for them. However, many of those things are false. Therefore, to help B2B business owners make an informed decision, we look at the truth about B2B payment systems.

Are All Providers of Merchant Services Scammers?

Perhaps the main myth that persists about B2B payment systems is merchant service providers are all scammers. This is clearly not the case. While there are, undoubtedly, some providers that you should avoid, not all are untrustworthy. In fact, there are many excellent providers of merchant services that are truly reliable and reputable.

That’s not to say that B2B company owners should not take great care when choosing a provider. So, how can they make the right choice? First, a reliable provider will always be PCI-DSS compliant. This will mean it has security controls within its payment gateway that protects card data. Second, it will always have a chargeback and fraud prevention system in place. Avoiding chargebacks and fraud is almost impossible if such software isn’t in use. Therefore, it is important to install special software to protect the transferred data. Last, you should look for customer testimonials and history in the industry. If the provider has been around for some time and has many satisfied customers, you can feel safe.

Isn’t It Better to Go to The Local Bank Instead of Relying on A Merchant Account Provider?

Another myth that persists is that local banks offer more reasonable rates for businesses than merchant account providers. This may be true in some cases. However, in many, it is not. Providers of merchant accounts usually have a network of partner banks. This makes sure they can meet all expectations, even from highly demanding businesses. The strength of that network also usually means they can offer lower rates. It’s always important to check the rates offered by providers of merchant accounts. You might be surprised by how affordable they are.

All Providers of Merchant Accounts Offer the Same Rate, Don’t They?

Many B2B business owners think that shopping around is pointless when it comes to merchant account providers. They live under misapprehension that all providers offer the same rates. This is certainly not the case. There are a few factors affecting rate levels.

First, the business type has an impact. Providers will offer a higher rate to a higher risk industry that is more likely to suffer from chargebacks or fraud. Also, the card used for making payments is another factor. In addition, the bank the merchant account provider uses will also have an effect. Therefore, it is important to take the time to find out how cost-effective the rates offered to you are.

It’s Expensive to Set Up A Merchant Account

Saving money is very important for all B2B companies. Margins are often tight, and it is vital to find ways to make savings. Therefore, if companies believe merchant account services are expensive, they are likely to avoid them. However, they don’t need to be as costly as you might imagine. Some providers of merchant services do charge a high price. However, if you choose the right provider of your B2B payment systems, you could find the service is very affordable.

How Can BillingTree Help?

BillingTree is a top provider of B2B payment systems. The company is leading the way by offering a host of products aimed at simplifying and streamlining the payment experience. With years of experience in the industry, we are a thoroughly reliable and reputable provider of merchant services. Unlike some of our rivals, we have countless satisfied customers stretching back for several decades. We pair our cutting-edge technologies with outstanding customer service. This makes us an ideal choice for all B2B business owners, regardless of their sector. Our solutions are cost-effective, fully compliant, and user-friendly. Also, you can seamlessly integrate them with your existing software for a streamlined experience.

Our B2B payment systems allow merchants to receive payments via the methods of their choice. With IVR systems, web portals, and virtual terminals among other services, BillingTree makes it easier than ever to receive revenue. By accepting credit and debit cards 24 hours a day, seven days a week, our solutions facilitate cash flow. Even better, B2B business owners can save time, effort, and energy. This frees them up to focus on other areas. With BillingTree’s merchant solutions in place, business owners can rest assured that they will receive their money with minimal effort. Meanwhile, they can help their companies to grow and thrive.