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What is B2B Payments Processing and How Do You Implement It?

Stax

Business to business organizations provide services or goods to other companies, unlike business to consumer (B2C), which is when businesses transact with consumers (individuals). B2B vs. B2C Payments Despite the fundamental similarity that money is being given from one entity to another, B2B and B2C payments are quite different.

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Seller Platforms And Digital Marketplaces Define B2B Payments For 2021

PYMNTS

Yes, many organizations shifted the needle away from the paper check toward ePayment tools like commercial cards and ACH as a result of necessity. According to Markus Jansson , chief product officer of Payer , for instance, real-time onboarding of new customers on eCommerce platforms will become vital to the success of B2B vendors.

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Taking The Good Of B2C Payments ? And Leaving The Bad ? For B2B eCommerce

PYMNTS

With the B2B eCommerce market towering over B2C’s in terms of transaction value — Forrester Research estimates the U.S. “When you’re a B2B seller, you want to combine the traditional way of being paid — which is ACH for the U.S., market will grow from $889 billion by the end of 2017 to $1.2 in 2020, Deloitte added.

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Mobile Payment Terminals Get B2B-Ready

PYMNTS

Yet, as Tony Horling, founder and CEO of InTu Mobility , recently told PYMNTS, mPOS technologies designed for business-to-consumer (B2C) payments won’t cut it for multibillion-dollar enterprises that need to accept B2B payments in the field. Benefits For Payers.

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For Insurance, Faster Payments Means Nothing Without Data

PYMNTS

In particular, a heavy volume of both B2C payments (consumers paying premiums to insurance companies, as well as insurance companies sending claim payouts to individuals) and B2B payments (insurance companies paying service providers) pave the way to a complex mix of payment rails. “That’s the difficult part.” ”

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When B2B Payments Innovation Is All Talk, No Action

PYMNTS

Last June, NACHA and the Credit Research Foundation said that at present, paper checks make up half of B2B transactions received in the accounts receivable department; ACH accounts for less than a third. Further, in NACHA’s most recent update on same-day ACH volume – which found $87.1

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Deluxe CEO: B2B Payments Will See Resurgence In Paper Checks

PYMNTS

In another example, pointing to healthcare as a vertical that is sorely in need of digitization, McCarthy said Deluxe has partnered with ECHO Health to launch the Medical Payment Exchange Platform, which established a cloud-based payment process to help payers migrate away from paper checks. On The Path To Digitization.

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