{"id":524,"date":"2021-04-26T16:07:36","date_gmt":"2021-04-26T14:07:36","guid":{"rendered":"https:\/\/www.webdesign-inspiration.com\/article\/?p=524"},"modified":"2021-04-27T12:10:45","modified_gmt":"2021-04-27T10:10:45","slug":"how-to-make-b2b-payments-as-simple-and-convenient-as-possible-with-new-technologies","status":"publish","type":"post","link":"https:\/\/www.webdesign-inspiration.com\/article\/how-to-make-b2b-payments-as-simple-and-convenient-as-possible-with-new-technologies\/","title":{"rendered":"How To Make B2B Payments As Simple and Convenient As Possible With New Technologies?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">After the payment digitalization happened, the world was never the same. We have little to no cash, get angry when a transfer from a friend takes more than a minute, and actively use numerous payment getaways.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">B2C has numerous options to satisfy the needs of every customer: ApplePay, GooglePay, credit or debit cards, etc.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">B2B is\u2026 well, not that flexible. According to <\/span><a href=\"https:\/\/www.afponline.org\/publications-data-tools\/reports\/survey-research-economic-data\/Details\/epayments-survey\"><span style=\"font-weight: 400;\">AFP Electronic Payment Survey 2019<\/span><\/a><span style=\"font-weight: 400;\">, 42% of businesses still use payment checks. Moreover, it is considered to be the lowest rate ever and is excitedly discussed.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It sounds ridiculous when there are so many more convenient options out there. Therefore, the most you can do to improve your B2B payment process is to update your payment methods.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">We will learn how exactly digitized payments can improve your B2B payment and how to choose the right digital payment method for your business.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">How Digitalization Influences Your B2B Payments?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Digitized payments are beneficial to both business customers and brands, and here is why.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Speed<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Digital payments need less time to proceed than paper checks. It can take from mere seconds to 1-2 days. Paychecks may take up to 15 days to clear.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Security<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Cash can be easily stolen by thieves or company employees, and you may discover that the paycheck was fake or the customer does not even have that money. Digital payments have several walls of security.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Remoteness<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">It was annoying to have to drive to the bank to receive or send the money. With the pandemic happening, it also becomes dangerous. Most digital payments methods do not require your presence in a bank.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">What Digital Payment Method Is Simple And Convenient For B2B?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">In fact, there is no fits-it-all payment. Every method is more or less suitable for the company. Let\u2019s take a closer look at all the methods to find what suits your business type better.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Credit Cards<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Credit cards are widely utilized in B2C and are slowly gaining popularity in B2B, as more millennials enter the market.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Credit cards are good for:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">instant operations<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">small or medium transactions<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">businesses that have a corporate credit card<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">businesses that do not have enough money at the moment but need to pay ASAP<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">for international businesses<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Credit cards have such cons as:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">high fees<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">unauthorized payments and fear of losing the card or stealing<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">companies usually do not keep big sums of money on their credit cards so no big transactions<\/span><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-527\" src=\"https:\/\/www.webdesign-inspiration.com\/article\/wp-content\/uploads\/2021\/04\/q59hmzk38eq-1024x683.jpg\" alt=\"credit card\" width=\"810\" height=\"540\" srcset=\"https:\/\/www.webdesign-inspiration.com\/article\/wp-content\/uploads\/2021\/04\/q59hmzk38eq-1024x683.jpg 1024w, https:\/\/www.webdesign-inspiration.com\/article\/wp-content\/uploads\/2021\/04\/q59hmzk38eq-300x200.jpg 300w, https:\/\/www.webdesign-inspiration.com\/article\/wp-content\/uploads\/2021\/04\/q59hmzk38eq-768x512.jpg 768w, https:\/\/www.webdesign-inspiration.com\/article\/wp-content\/uploads\/2021\/04\/q59hmzk38eq-1536x1024.jpg 1536w, https:\/\/www.webdesign-inspiration.com\/article\/wp-content\/uploads\/2021\/04\/q59hmzk38eq-810x540.jpg 810w, https:\/\/www.webdesign-inspiration.com\/article\/wp-content\/uploads\/2021\/04\/q59hmzk38eq-1140x760.jpg 1140w, https:\/\/www.webdesign-inspiration.com\/article\/wp-content\/uploads\/2021\/04\/q59hmzk38eq.jpg 1600w\" sizes=\"auto, (max-width: 810px) 100vw, 810px\" \/><\/p>\n<h3><span style=\"font-weight: 400;\">Wire Transfer<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Electronic transfer of money is happening through SWIFT which makes this method both reliable and quick.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Wire transfer is mainly used for:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">quick transfers<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">businesses who have bank accounts<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">international businesses<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">payments can be done anytime<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The main disadvantages of wire payments are:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">too much paperwork involved<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">a need to be present at the bank<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">expensive ($10-35 inside the country and $43 international)<\/span><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-529\" src=\"https:\/\/www.webdesign-inspiration.com\/article\/wp-content\/uploads\/2021\/04\/ltnvqhdkkmw-1024x683.jpg\" alt=\"\" width=\"810\" height=\"540\" srcset=\"https:\/\/www.webdesign-inspiration.com\/article\/wp-content\/uploads\/2021\/04\/ltnvqhdkkmw-1024x683.jpg 1024w, https:\/\/www.webdesign-inspiration.com\/article\/wp-content\/uploads\/2021\/04\/ltnvqhdkkmw-300x200.jpg 300w, https:\/\/www.webdesign-inspiration.com\/article\/wp-content\/uploads\/2021\/04\/ltnvqhdkkmw-768x512.jpg 768w, https:\/\/www.webdesign-inspiration.com\/article\/wp-content\/uploads\/2021\/04\/ltnvqhdkkmw-1536x1024.jpg 1536w, https:\/\/www.webdesign-inspiration.com\/article\/wp-content\/uploads\/2021\/04\/ltnvqhdkkmw-810x540.jpg 810w, https:\/\/www.webdesign-inspiration.com\/article\/wp-content\/uploads\/2021\/04\/ltnvqhdkkmw-1140x760.jpg 1140w, https:\/\/www.webdesign-inspiration.com\/article\/wp-content\/uploads\/2021\/04\/ltnvqhdkkmw.jpg 1600w\" sizes=\"auto, (max-width: 810px) 100vw, 810px\" \/><\/p>\n<h3><span style=\"font-weight: 400;\">ACH<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">ACH is another electronic transfer but it is suited for the US only. Still, it is popular within the country because:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It is less expensive than wire transfers. Sometimes they can be free<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">ACH can both send and request payments<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">it is good for businesses who rely heavily on profit margin<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">the payment may be reversed if any error occurs<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">they are better for regular payments<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">it is more secure (for instance, <\/span><a href=\"https:\/\/cooltechzone.com\/\"><span style=\"font-weight: 400;\">Cooltechzone<\/span><\/a><span style=\"font-weight: 400;\"> built their business around security trust this method only)<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">There are some weaknesses too:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">it is limited to the US\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">slower processing than wire transfers<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">Digital Payment Platform\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Almost everyone uses some form of digital payment platform. It may be PayPal, Amazon, Venmo, GooglePlay, etc. However, it is not really popular within B2B.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Some of its advantages include:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">no need to go to the bank<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">proceed payments from both desktop and mobile devices<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">quick transfers without banks being involved<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The main reason why it is hardly usable in B2B is costly fees that are higher than any other payment method.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Bottom Line\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Improving payments in B2B can be tricky sometimes. Since improvement usually means meeting customer expectations in speed, security, costs, and personal preference.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Consequently, you have to choose a decision that works best for the majority of the clients or use multiple methods.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you are an international company, you will have to deal with wire transfers or credit cards and enjoy fast but costly services. If you work only with the US partners, ACH seems to be the best solution but be ready for the long wait (no longer than paper check though).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In order to make payment more convenient and automated for both you and your customers, you may use such systems as <\/span><a href=\"https:\/\/apruve.com\/\"><span style=\"font-weight: 400;\">Apruve<\/span><\/a><span style=\"font-weight: 400;\">. You can enjoy multilingual support and invoices, credit management, and customer onboarding there.<\/span><\/p>\n<p>_<\/p>\n<p>Dean Chester is an online security enthusiast and now is writing VPN reviews at <a href=\"https:\/\/cooltechzone.com\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">https:\/\/cooltechzone.com\/<\/a>. Actively self-developing, keen on online marketing and new technologies. Writing is his hobby, a way to escape from everyday routine and inspire others.<\/p>\n<p><strong>BEST VPN ZONE 2021 (<a href=\"https:\/\/cooltechzone.com\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">https:\/\/cooltechzone.com\/<\/a>)<\/strong><br \/>\n<em>Best VPN Services 2021 | 10 Winners out of 70+ Popular<\/em><\/p>\n<p>Top 10 best VPN services that have passed our in-depth security &amp; features tests (NordVPN, ExpressVPN, Surfshark, etc). The &#8221;VPN Spiral&#8221; method was used!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After the payment digitalization happened, the world was never the same. We have little to no cash, get angry when [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":525,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"yasr_overall_rating":0,"yasr_post_is_review":"","yasr_auto_insert_disabled":"","yasr_review_type":"","footnotes":""},"categories":[16],"tags":[],"class_list":["post-524","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How To Make B2B Payments As Simple and Convenient As Possible With New Technologies? - Web Design<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.webdesign-inspiration.com\/article\/how-to-make-b2b-payments-as-simple-and-convenient-as-possible-with-new-technologies\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How To Make B2B Payments As Simple and Convenient As Possible With New Technologies? - Web Design\" \/>\n<meta property=\"og:description\" content=\"After the payment digitalization happened, the world was never the same. 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We have little to no cash, get angry when [&hellip;]","og_url":"https:\/\/www.webdesign-inspiration.com\/article\/how-to-make-b2b-payments-as-simple-and-convenient-as-possible-with-new-technologies\/","og_site_name":"Web Design","article_published_time":"2021-04-26T14:07:36+00:00","article_modified_time":"2021-04-27T10:10:45+00:00","og_image":[{"width":1600,"height":900,"url":"https:\/\/www.webdesign-inspiration.com\/article\/wp-content\/uploads\/2021\/04\/rjqe64nmc_o.jpg","type":"image\/jpeg"}],"author":"Marc","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Marc","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.webdesign-inspiration.com\/article\/how-to-make-b2b-payments-as-simple-and-convenient-as-possible-with-new-technologies\/#article","isPartOf":{"@id":"https:\/\/www.webdesign-inspiration.com\/article\/how-to-make-b2b-payments-as-simple-and-convenient-as-possible-with-new-technologies\/"},"author":{"name":"Marc","@id":"https:\/\/www.webdesign-inspiration.com\/article\/#\/schema\/person\/06988f6849911e4f5542fc7b5fb92d2c"},"headline":"How To Make B2B Payments As Simple and Convenient As Possible With New Technologies?","datePublished":"2021-04-26T14:07:36+00:00","dateModified":"2021-04-27T10:10:45+00:00","mainEntityOfPage":{"@id":"https:\/\/www.webdesign-inspiration.com\/article\/how-to-make-b2b-payments-as-simple-and-convenient-as-possible-with-new-technologies\/"},"wordCount":870,"commentCount":0,"image":{"@id":"https:\/\/www.webdesign-inspiration.com\/article\/how-to-make-b2b-payments-as-simple-and-convenient-as-possible-with-new-technologies\/#primaryimage"},"thumbnailUrl":"https:\/\/www.webdesign-inspiration.com\/article\/wp-content\/uploads\/2021\/04\/rjqe64nmc_o.jpg","articleSection":["Business"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.webdesign-inspiration.com\/article\/how-to-make-b2b-payments-as-simple-and-convenient-as-possible-with-new-technologies\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.webdesign-inspiration.com\/article\/how-to-make-b2b-payments-as-simple-and-convenient-as-possible-with-new-technologies\/","url":"https:\/\/www.webdesign-inspiration.com\/article\/how-to-make-b2b-payments-as-simple-and-convenient-as-possible-with-new-technologies\/","name":"How To Make B2B Payments As Simple and Convenient As Possible With New Technologies? 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