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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.

B2B 88
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Anticipating B2B Payments Evolution With B2C Payments Trends

PYMNTS

According to Viewpost CEO Max Eliscu, B2B payments often follows in the same footsteps as B2C. One-third said they predict paper checks will die within five years , a finding that coincides with separate research from NACHA and the Credit Research Foundation that found ACH B2B payments are expected to finally surpass paper checks by 2020.

B2C 41
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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.

B2B 56
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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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Understanding B2B Payments: Exploring Payment Methods and Key Terms

EBizCharge

Unlike business-to-consumer (B2C) payments , where customers pay businesses for goods and services, B2B payments involve one company making payments to another. Compared to B2C payments, B2B payments have a more tedious and complex process to go through. Another notable method of ACH payments is the electronic check or eCheck.

B2B 52
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Deep Dive: The Risk-Reducing Case For Push Payments

PYMNTS

In a P2P situation, a Venmo user can send money to a friend’s account, while a B2C transaction might involve a restaurant pushing payments to disburse wages to waitstaff, placing the funds directly onto employees’ prepaid debit cards or into their bank accounts. B2C push payments can deliver quick funds to consumers.

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Accounts Receivable Realigns Its Focus To User Experience

PYMNTS

Solution providers that can offer this choice in payment “will be a critical differentiator” in the year and years ahead, said McCarthy, adding that AR platforms must allow B2B vendors to offer their payers a range of payment choice beyond ACH or checks, with more firms embracing commercial cards, PayPal and other alternative payment technologies.