B2b Credit Card Processing Has The Answer To Everything
Business to business processing is a type of transaction that is processed between one business owner to another for the product or service such as wholesaler and retailer. B2B transactions are done in a supply chain; for example, one company purchases a raw material and sells to the other business owner for the manufacturing of that raw material. Currently, most commerce businesses are this type. According to the report, B2B eCommerce will reach approx $ 1.8 trillion by the end of 2023. Along with that account for B2B business sales reach approx 17% in the US. At the end of 2018, eCommerce reached $ 1.1 trillion and represented 12% of total B2B sales in the US.
The earlier B2B business was challenging, but today it has become easier to grow the business. If you are also a B2B merchant and you need a reliable payment solution. No need to worry about payment solutions which are suitable for your business. We are a reseller of various payment processors who offer merchant services at a lower cost.
Difference Between B2B And B2C Business
- B2B stats that business to business, whereas B2C stands for business to customer or consumer.
- B2B transaction is done between the companies, whereas B2C is done between the company and the customer.
- B2B primarily focuses on the business relation, whereas in B2C focus on the product.
- In B2B, the decisions are thoroughly planned, whereas in B2C decision making is emotional.
- The large number of products sold in B2B, whereas in B2C is just the opposite.
- Retailer and wholesaler are examples of B2B, whereas a shopkeeper is the example of B2C.
Quadrapay B2b Payment Acceptance That Will Truly Make Your Life Better
- Echeck Processing. This payment solution is primarily for b2b merchants because the b2b merchant owner processes lots of checks in a day. These paper checks are difficult to handle. But with this solution, you can efficiently process the paper check without any trouble. In this solution, You have to follow some steps only:
- Capture or scan a paper check and upload it over the ACH network.
- After uploading the check, the ACH network processes.
- Money electronically debited from the payer’s account and deposited into your merchant bank account.
- ACH Processing. The paper check has been replaced by advanced technology which makes the process easier and faster. ACH and Echeck both are quite similar. But only some changes in processing. It stands for Automated Clearing House. It is an alternative method of electronic check. Decline ratio of ACH processing is less compared to echeck.
- Credit Card Processing Payment Gateway. This credit card solution for those merchants who want to accept credit card payment through their own website. This payment solution is easily integrated with your website. There is no need for hard and fast rules. You have to do a simple step to integrate, and you can also take a test payment after the payment gateway integration.
- B2B Merchant Account. This is another type of bank account, with the help of which you can easily take payments in your bank account. Every Merchant needs a merchant account to accept a credit or debit card payment, and if you have it, then it is ok otherwise take it.
Benefits Of B2B Solution With Quadrapay
- Fast Approval. Quadrapay offers a fast approval facility means that your application request gets approved within 24 hours. You have to fill only an application form. You can also mail us at [email protected].
- Suitable For Overseas Payment. You can receive international payment across the globe. For eCommerce B2B business, overseas payment solutions play an essential role. As of now accepting International payment is a straightforward process.
- Fast Processing. By using the latest technology solution, your processing will get faster. Along with that, cash flow also increased. Cash flow is essential because it informs the cash position in the business.
- Processing Fees. Earlier it was a very complicated procedure to process the paper check. But at this time this is simple. Along with that, we offer processing costs that are also very low compared to other processors.
Still, you are confused about what you should do for business or B2B Credit Card Processing. You can mail us at [email protected]. Our expert will solve all your queries.
B2B Payment Gateway To Streamline Your Business Operations
B2B Payment Gateway Transactions Are Different From Traditional Payment Methods
B2B companies are adopting digital payment services to streamline their business operation. It has been seen over the last few years that b2b companies are changing the way of the transaction they used to do it before. Usually in Business to business transactions work on traditional payment methods like cash or check. But now they are changing their preferences and started shifting towards the digital world. The b2b payment gateway is one of the most preferred solutions for transactions among businesses. B2B transactions involve two businesses, but one of the businesses acts as the customer of the other. The B2B transaction can include anything from the software and services, or office supplies or hardware units required for the manufacturing of products.
What To Look In Business To Business Payment Gateway
A payment gateway is an online eCommerce service that helps to accept credit/debit card payments. It integrates with your eCommerce website and enhances the capabilities of the online store. A payment gateway securely transmits and authorizes the transactions.
While looking for a payment gateway, a merchant should ensure that it has multi-capabilities to adapt most of the needs of the merchant as well as customers. Make sure that your payment gateway processes ACH payments as well as accept all the major cards. It should be scalable and can accept and exchange foreign currency. Payment gateways come with a lot more capabilities like invoicing, report generation and real-time transaction tracking.
How Does A B2B Payment Gateway Work?
A payment gateway helps merchants to accept payments in several ways. Likewise, it helps to accept ACH payments or card payments through mobile, email or fax. A virtual terminal is an additional feature of the B2B payment gateway that enables businesses to accept payments from any geographical location. It only requires a web browser and an active internet connection to accept payments from any business entity. The crucial role of the payment gateway is to encrypt the card details provided by the customers. It acts as an intermediary between your eCommerce site and payment processor or banks. Thus it streamlines the transactional data flow between the financial institution and helps in secure payment settlement.
What Are The Benefits Of Using A B2B Payment Gateway
A lot of time and effort can be saved with online B2B payment gateway processing. Traditional methods like cash and checks involve a lot of physical work as well as trips to banks. With the gateway solution, the transaction is just a click away.
Businesses feel more confident to transact because payment gateway provides features like fraud prevention and Seller protection features. It eliminates the risk and builds the truth.
The payment processing is faster and hassle-free. All the funds go into the merchant account, and after the holding period, it gets transferred into the bank accounts of the business entity who is receiving payments.
Provide easy tracking of payments as well as goods and services.
Account reconciliation process and report generation capabilities.
Supports customer disputes to build customer trust.
Recurring billing solutions and lump-sum payments make the transaction process smooth and adaptive to the needs of the customer.
Some of the payments gateways also provide you with the facility of mobile payment solution, which attracts more customers.
How To Apply For A B2B Payment Gateway?
Now it is easier to get a b2b payment gateway for your business transactions from Quadrapay. A business owner needs to fill the merchant application with all the vital information like business registration, processing volume and ticket value (minimum and maximum as well). After submitting the application form along with all required KYC documents like registration documents, the government approved ID, utility bills, Void check and bank account statements. We will deeply understand your business requirements to search and provide you with the best payment processing solution for your business.
For more information on B2B Payment Gateway, you can mail us at [email protected].
B2B Payment Services – Innovation To Keep Businesses Transaction Smooth
B2B Payment Services Smoothen The Businesses Transaction
In today’s time, businesses are looking for more convenient and secure means of payment processing solution. Most of the businesses-to-business payments are still made through checks. If we talk in figures, more than 51% of B2B payments are still done through old and inconvenient means of a paper check. But with the advance in the financial technology and payment industry, businesses are opting for the new digital payment solution. It is more secure and fast means of payment processing. Merchants understand that to keep their business thriving; they need robust and reliable processing to handle their company’s transaction better. To struggle less and receive more, merchants require a B2B Payment Services that better fulfil their business requirement. Stay connected to speed up your business transaction and accept payments seamlessly.
How Merchants Get Started With B2B Payment Services
There are several ways businesses can send and receive payments digitally. We, in this article, discuss the most used payment methods for Businesses to business transactions.
Credit Card Processing: Credit card processing is always the most convenient way of transaction. Merchants widely use credit card processing from retail to an online eCommerce store. When it comes to B2B payments, it proves to be a reliable payment method. Credit card processor deducts a small fraction of the amount with each transaction. The small fraction of the amount is the processing fees, which is associated with each transaction. When the business transaction is significant, these low fees compounded and became too expensive for small merchants. Processing fees are somewhere is the demerit of card processing solution. Some card processors also have the maximum transaction limit, which sometimes hurts the merchants when they need to do a more significant transaction.
Payment Gateway: The payment gateway can be an excellent option to accept payment online. If you are a merchant having your online website, then you can easily integrate a payment gateway solution onto your website. A payment gateway is an online eCommerce service that authorizes the online transaction and facilitates the flow of transactional data. It also helps to collect a one-time payment as well as recurring payments scheduled monthly or as per the agreement between businesses.
Electronic Checks: EChecks replace physical checks. Businesses are using eChecks for B2B payments. eCheck uses the ACH network to get processed. The amount flows directly from the payer account to the payee account. It is also the safest and reliable means of payment processing for B2B businesses.
Wire Transfer: Wire transfer is an electronic means of payment transfer. The funds get transferred from one business account to another business account. The delivery of payments is within hours. The advantage of a wire transfer is that there is no transaction limit. A business can send and receive as much amount as they can.
ACH Works Well For B2B Payment Services
There is no surprise that ACH payments are the widely used payment instrument for B2B payment services and transactions. In 2017, more than 34% of the B2B transactions were made through ACH as per the report of the finance professional. This is an increase of 22% in 2014. If we talk about the survey conducted by NACHA (National Automated Clearing House Association) and the Credit Research Foundation (CRF), they found that check payments have decreased to 50% as of 2017. This was a major decline compared to 2014 when more than 63 % of payments were done through check. It has been anticipated that the ACH payments will increase from 34% to 45% by 2020. Therefore ACH payment processing is a good option for merchants looking for B2B payment services.
For more information on B2B Payment Services, you can mail us at [email protected]
B2B Payment Processing
Business To Business Payment Solution
Online transactions, which have become an element of the business to the customer system, are now lighting to penetrate the B2B Payment Processing market. One of the fundamental advantages of an Electronic payment method is that it promotes up the business to business payment options at a very faster rate. (the ancestral, paper checks-based method of funds transfer which acts spectacularly slow), supporting to resolve cash flow problems that are usually fronted by both medium-sized and small businesses.
Additional advantages of online B2B Payment Solutions for businesses of all extents involve:
It assists in minimizing the result of failed transactions.
It’s simply accessible to your clients.
It decreases the significance of the effort required in your accounting or finance team.
How Will My Business Associates Submit A Payment Online?
Your payment gateway needs to have the proper tools to make online funds transfer easily. Quadrapay gives two choices to merchants, either of which can be utilized even if your company doesn’t have an online website:
ChargeLink — This method offers buyers to take the power of the ordering manner by themselves using ChargeLink. It allows you to insert the link in a bill or email them with a payment link. With the help of any web-enabled machine, the consumer succeeds on the link and completes the transaction process by filling in the payment information by their own and then submits it.
Virtual Terminal—This is an excellent solution for merchant services who need to admit debit or credit card and ACH payments by fax, email or over the phone. Ideal for trades and consumer comfort orders, amounts can be acquired everywhere your deputies can use an internet browser. Your full-service representative quickly logs in to the Quadrapay console and provides the request information needed for payment on the interest of the client. (Else, they can post a transaction application link to clients via email).
What Happens When An Associate Submits Payment Information?
The payment gateway takes the transaction request, encrypts the transaction data, and routes it to the bank.
The bank gets control of the trade request. Its function is to get permission for the processing of payment.
The bank imposes the request and checks whether the user has adequate funds or credits. Then the bank creates a response either approve or deny and carries it back to the bank account via the card network.
The bank transfers the acknowledgement back to the processing gateway.
The payment gateway’s decisive action is to exhibit the result either back to the merchant account or directly to the associated partner if you’re using a hosted payment page.
How Safe Is Electric B2b Payment Processing?
Because your payment gateway will be handling debit card or b2b credit card processing transactions, make sure it’s acquiescent with the PCI-DSS (Payment Card Industry Data Security Standard). This PCI compliance can be high-priced and oppressive except your payment processor manages enough of the responsibility for you. Discover out what kind of PCI compliance level they would give, and if that still empowers you to fulfil all the functionality of your trading needs. If you’re a merchant that is using Quadrpay’s ChargeLink and/or Virtual Terminal solutions, you can be rest ensured that your b2b payment processing solution is secure with PCI compliant.
Will The B2b Payment Gateway Combine With The Other Software?
This depends on the type of payment processor you select. Quadrapay combines with thousands of partners, including various carts of shopping like WordPress, WooCommerce, BigCommerce and several more and different prime business software solutions. B2B payment unification with your current software should be an essential requisite for whatever gateway for payment you decide. It provides you with more methods to receive payments from clients and improves product or service.
How Do Online Recurring Payments Works?
Recurring payments or subscription-based businesses must be as secure as usual as orders of purchases. Make assured that your payment processor has the capacity to automatically induct subscription transactions at whatever period you like as monthly, quarterly, or annually. Our Virtual Terminal can be utilized to induct a recurring payment or a subscription plan so that your clients pay the balanced fund on a regular basis. And if you post an electric bill with a connecting link to pay online, that hosted page can be practised to induct a recurring billing too. There’s never more a requirement for consumers to give information of payment more than one.
B2B Merchant Account Service
QuadraPay Now Offers B2B Merchant Account Service
Very merely, B2B merchant account service is the payments made between companies. For example, A restaurant owner might pay a supplier for fruits and vegetables, meats, and more. An IT company is paying for the servers and other major services to the associated partnered service providers. A startup tech company might make a payment to AWS for its servers. Any time one business manifests another business, it requires a Business to Business merchant account for the payment. The b2b transactions are growing and improving at a more gradual rate in comparison to the other consumer payments that are currently being used and growing rapidly.
At present, around 33 percent of businesses are still relying on traditional check methods for funds transfer, while with the help of advanced electronic payments method, around 67 per cent of all the transactions are being done digitally. Around 16.5 trillion dollars were accounted in 2014 by the United States in which around 4.26 trillion dollars of transactions were international, and around 12.24 trillion dollars were local transactions. And as per the expert’s analysis, the financial year 2020 market is about to reach 23.1 trillion dollars. These figures become tremendously more in terms of worldwide transactions. Global B2B payments are expected to reach $218 trillion by 2022, resulting in benefit with improved organizational efficiency, faster payments, better customer experiences.
The U.S. merchant account market will grow from $16.5 trillion to $23.1 trillion by 2020 with enjoying a 5.8 per cent CAGR over that period. On average, roughly 75 per cent payments solutions are domestic, and 25 per cent are international with most of those transactions going to China, Canada and Mexico.
As per the expert’s study, around 1 billion dollars revenue will be generated by the 61 per cent of the medium-sized as well as small businesses that use a b2b payment processing solution for the transactions.
B2B or business to business is a deal between two businesses. The deal can be between any business like the manufacturer to the wholesaler or between the wholesaler to a retailer. And when it comes to B2B Payment solutions, it means a transaction between two businesses. The B2B transactions are most common in the supply chain model in which one business depends on others, and the other is dependent on another.
In contrast, there are transactions between entities like business to consumer B2C in which P2P is the most common method of transaction. Though one business depends on others, they need a robust B2B payment solution. However, still, the innovation in B2B payment processing is somewhere lag behind as compared to business to consumer payment processing. Checks payment are still in existence in a B2B transaction. But now, checks payments are being replaced by ACH. In a report by the Association for Financial Professionals (AFP), there is a huge decline in check payments. As per the report, there were 51% transactions made by checks which decreased by 42% in 2019.
So why are you behind? Take your business with the era of online B2B payment solutions. We at Quadrapay help businesses with a robust, reliable and secure payment solution. Stay Connected!
Business Credit Card Processing Works On A Three Level System Also Called Level 1, Level 2, And Level 3.
Level 1 payments. It requires very few amounts of information for the transaction because it is usually used for the business to consumer transactions processing.
Level 2 payments. These include the payments done for the investments of businesses with the help of the corporate cards. Without any special requirements level, two transactions can be processed. For b2b credit card processing, there are several more pieces of information needed to process the transactions.
Level 3 payments are purchase cards that are used by large corporations and government agencies. This requires to pass more than twenty data elements to furnish for the lowest processing rate.
Level 2 and Level 3 cards are deprecated when required information details are missing.
That’s why it is necessary to gather all the requirements to process the transactions are interchange rates with a very low fee.
Benefits Of Obtaining A B2B Merchant Account Service
There are several reasons to switch to a b2b merchant account service. b2b product or service works faster and optimized with several billing and payment applications which increase the overall cash flow for your business.
Improve Cash Flow. The biggest reason in terms of business failure is the difficulties in the cash flow. By utilizing the b2b transaction method, you can easily see all the patterns of your cash that is coming and outgoing, which can’t be easily possible with the traditional paper check method of payment.
Clarify Taxes and ease of Bookkeeping. With the help of advanced accounting software, you’re all of the b2b merchant payments are recorded and stored in the database, which helps you to calculate and check all the transactions in the backdate. Many also combine with your accounting software to make tax filing and Bookkeeping easier.
Preserves Capital and saves your Time. B2b payments service saves your vital time and efforts for you as well for your clients. Your client doesn’t need to draft and post a check to you. And you don’t need to collect and deposit the check, and a hard-copy check costs about $2 per check. This can add up from hundreds to even thousands of dollars over time as an increase in the number of check transactions.
Online B2B Payment Processing Solutions
There are many alternative payment methods to send or receive B2B payments. The solution may depend on the business requirements and needs. Let’s see the most common payment methods a B2B rely on:
Check: Checks are not the online means of payment processing solution, but still used in B2B transactions. Almost one-third of the B2B payments are still being made by checks, but the number is decreasing rapidly now. Business is adopting online payment services.
ACH: Automated Clearing House is somewhat like a digital check which is processed through ACH network. The transaction is processed usually in batches. NACHA reported 1.92 billion B2B ACH payments in the second quarter in 2019, with a value of $18.2 trillion. Those figures are up 10.6% and 6.9% respectively from the same time a year ago. But since Same Day ACH payments arrived it shows tremendous growth in the second quarter of 2019. The 23.6 million payments represent a 54% jump from the same time in 2018. And the $38.6 billion transferred is up nearly 47% from a year earlier.
B2B Credit Card Processing: A merchant can pay with a credit card to another merchant through B2B credit card solution. The transactional rate is usually higher than that of ACH.
Wire Transfer: A wire transfer is an electronic fund transfer which is used to transfer funds from one bank account to another account electronically. It usually takes a few hours to get processed.
Payment Gateway: A payment gateway integrates with your online website and helps other businesses to pay directly via your website’s check-out page. The payment gateway authorizes the transaction and helps in fund settlement in your merchant bank account.
Reasons Why Small Business Needs a B2B Payment Processing Solution
If you are business involving B2B payments, and unwillingness to continue with cash, then you might be interested in knowing the benefits of Online B2B Payment Processing.
Cash Flow: With the online B2B payment solution, you ultimately feel an increase in cash flow. Other businesses can pay you with a single click. You don’t have to mail every-time for the payment date and the business who has to pay you will not make a check and all that paper-based method. With invoicing capabilities, all your tasks will become so easy and smooth and result in better receivable and payable.
Time Efficient: The traditional check based method is the very time taken and usually eats up a lot of your precious time. Earlier, Traditional Check based is challenging for both the parties but the new era of payment solution makes the transaction just a click away. This helps both the businesses to work on their core product.
Adhere With security: with the digitalization, many cyber threats or data breaches also come in play. But there is nothing to worry; the solution is compliant with PCI-DSS standards. Nowadays, many payment solutions come with an extra layer of security called 3D secure, which helps you to protect in the online world. There is also a top-notch security or engineers team who monitors all the transactions and helps you with data security which lets you secure and safe.
Faster Payment Settlement: with the invoicing feature, you can receive or pay money easily, and the money gets settled into the account within 24 hrs. The sooner you pay the bills, the sooner you receive the project. It also reduces the production time and increases the cash flow.
Reduce paperwork: with the increase in online B2B payment solutions, there is less use of checks and hence less paperwork. You don’t need to every time deal with invoice and paper reports; everything is automated from invoice to reports. It not only saves paper but the environment.
Future Of B2B Payments
The checks payment is on the verge of extinction in the near future. Everything is going to digitalize. Businesses are adopting various online payment solutions like credit card processing, ACH, eCheck, wire transfer, Electronic Fund Transfer(EFT) and there are a lot more payment instruments. Businesses can send money in real-time. There will be no time boundaries. Cross border transactions will also be done in real-time. All the business will be driven by technology in the financial world. Be ready to enter the world of digitalization.
Apply Today with Quadrapay and Shake Hands Towards The World Of Digitisation
We help businesses with merchant services which let them accept payments online. We not only help Business to Consumer but also Business to Business payment solutions.
If you are a business entity looking for a reliable, robust and secure payment option, Apply Today!
We being itself a business entity, we know which business/industry requires what solution. We will meet all your expectations. To get started, fill the pre-approval form onto our site, and we will analyze your business needs and get back to you shortly.
Merchant Account For B2B Businesses
Merchant Account For B2B Businesses With Quadrapay
B2B(Business-to-Business) is the sales you make to other business rather than to your customers. You deal with companies and not with any person. B2B differs from B2C(Business-to-Customer) as transactions complete here through business cards or corporate cards.
Doing transactions with an individual customer requires level 1 credit card processing as it requires necessary essential details to process the transactions — details like credit card number and billing address to verify the payment. If you want to handle the sales for your B2B business you have to go a level up and will require level 2 or level 3 credit card processor. Level 2 or level 3 credit card processor is more secure as it requires more information than level 1 credit card processor. Additional information that level 2 or 3 requires to process the transaction are like tax amount, tax identification and many more. Though level 2 or 3 credit card processor works similarly like level 1 credit card processor, the only difference is that level 2 or 3 requires additional information as the transaction is for a company, not any individual.
Quadrapay is here to help you to provide a merchant account for your B2B businesses as our payment processing partners in the EU are offering you the merchant account under MCC (Merchant Category Code) 7399.
Why To Choose Quadrapay For Your B2B Businesses?
Our payment processor provides you with the flexibility of accepting payments from various modes. It allows you to accept payments from multiple credit cards, debit cards. You can also accept payments from eWallets, smart cards, virtual credit cards or even from your recurring bills.
To accept these payments, we provide you with a secure payment gateway so that every transaction you make remains safe. Our payment gateway has PCI-DSS security compliance so that every time the customer makes any payment, it remains encrypted that prevents data loss and card theft activities. It ensures your customer to invest in your website, and they like to visit more or shop with you more as they have trust on your website.
It is a smart online payment processor with a real-time reporting tool. It reduces your accounting hassle. It tracks all your transactions and makes a record of all of them. It keeps a record for all of your investors and partners with whom you make frequent transactions. You don’t have to worry about skipping a payment as it schedules the recurring payments and sets up a schedule for all your upcoming payments.
Our payment processor supports multiple currencies so that you can make seamless transaction cross-border or international operations.
Process any branded credit card or debit card through our payment processor at the lowest processing rate.
There is no need for any additional software to run the payment processor with your system as our payment processing partners have already done that for you by installing all required software at one place.
We do not charge you for joining us, hence no setup fees.
No monthly fees because we only charge you when you make any transaction. We charge for every sale so if you want to rest or want to focus on other associated businesses you don’t have to worry about getting charged for this merchant account.
No more surprises by revealing any hidden charges as we are transparent about the fees we take from you, and we also describe the costs to you briefly
Our payment processing partners offer you POS terminal with equipment that lets you accept payments even when you are travelling, so that flow of transaction never stops.
Quadrapay has 24/7 customer service that is efficient and always looking forward to helping you with any problem you face while using the online payment processor.
How Will Level 2 Or Level 3 Credit Card Processor Helps In Your B2B Businesses?
Level 2 or 3 credit card processor increases your profit.
It reduces your interchange fees.
Increases your customer base by including more such companies who have level 2 or 3 credit card processors.
Reduces frauds and chargebacks by warning you earlier as the customer raises any dispute.
It has an extra level of security as it requires more delicate information to process the transaction.
Does level 2 And Level 3 Credit Card Processor Costs More Than Level 1 Credit Card Processor?
Level 2 and level 3 credit card processors cost you almost the same as level 1 credit card processor. You can always ask for a brief detailing of price, and if you are already using another processor, then we can negotiate the price and will see if we can beat or meet your current rate. Or else we can provide you with the best pricing model for your business.
How To Get Level 2 Credit Card Processor?
To get a level 2 credit card processor, you need to provide details of:
Purchase Order Number
Destination City, Address & Zip.
Requestor Name, City & State.
Information Required For Level 3 Credit Card Processor?
Level 3 payments require all the information that level 2 requires; however, level 3 becomes more secure. Hence it includes additional facts to minimise the transaction cost:
Unit of measure (for each item)
How To Get A Merchant Account For B2B Businesses?
There is a typical checklist of documents required to get a merchant account for your B2B businesses:
A Detailed Business plan.
Business Bank account details that should be within the EU.
Working website and its terms and conditions.
Average Sale price.
A detailed description of your services and products.
Complete information about the owners and the partners and they should be physically present in the EU.
Bank statements for the recent three months.
Processing history if any.
Valid government ID.
After the submission of the required documents and filling up the application form, we start processing to get the approval of your merchant account.
If you want to get more details about our payment processor or Merchant Account For B2B Businesses you can contact us anytime as we are available 24/7.
Get in touch with us at [email protected]