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Understanding B2B Payments: Exploring Payment Methods and Key Terms

EBizCharge

Payment Initiation: Once the buyer receives the invoice, they initiate the payment process. Payment methods commonly used in B2B transactions include bank transfers, checks, electronic funds transfers (EFT) , credit cards, and increasingly digital payment platforms.

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What is Payment Processing?

Clearly Payments

This process is vital for businesses, as it enables them to accept payments through various methods, including credit and debit cards, electronic bank transfers ( EFT/ACH ), and digital wallets. It then sends an approval or denial response back through the card network to the payment processor. Visa, Mastercard).

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What Is an ACH Payment Facilitator?

Stax

Automated Clearing House (ACH) payments are a type of electronic bank-to-bank payment system in the US. Unlike payments facilitated by card networks like Visa or Mastercard, ACH payments are managed by a body called the National Automated Clearing House Association (NACHA).

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