How to Get the Most out of B2B Payment Processing

You’re looking for B2B credit card processing options. You’ve done some research, checked out the competition, but you haven’t found what you need yet.

Here’s everything you need to know to get the most out of B2B payment processing.

Processing costs

Corporate and government credit cards are expensive to process. Many B2B businesses shy away from accepting these types of cards because of the associated costs. But it doesn’t have to be this way.

What if your B2B business could accept corporate and government credit cards without high fees? You’d lower your processing costs and your customers would still have an easy and convenient way to pay.

The best B2B payment processing providers are able to lower the interchange rates on corporate and government credit cards. They do this by capturing line-item details from each transaction and lowering the overall perceived risk of each transaction. And when these cost savings are applied over hundreds or thousands of transactions, you can see the difference.

Integration into software

Anyone who works at a B2B company knows that time is valuable. You’re always trying to find new ways to make your processes more efficient and cut down on labor time. One easy way to save time each day is with an integrated payment processing system. Our payment gateway, EBizCharge, integrates with your existing ERP/accounting software and automatically posts payments to invoices. No more reconciling your batch at the end of the day or spending hours on double data entry. How much time could you save if your payments were automated?

Get in touch

To learn more about how EBizCharge can streamline the payment process and save you time, check out our case study with Superior Gearbox Company.

ACH

While credit cards are an increasingly popular option for B2B clients, there are still those who prefer to pay via ACH check. To get the most out of B2B payment processing, be sure to find a processor that allows you to accept ACH payments as well as credit and debit cards.

Security

B2B companies take data security very seriously—and for good reason. A breach could prove disastrous for both your B2B company and your clients. You could lose hundreds of thousands of dollars in damages as well as the trust and respect of your customers. Your reputation would be tainted and customers would be unlikely to trust your company with their sensitive information again.

So how do you avoid such a catastrophe? The key is to invest in multiple data security techniques to fully protect your customers from hackers.

The B2B payment processing solution you choose should be PCI compliant and adhere to rigorous security standards. The processor should employ several different methods of data security, such as encryption and tokenization, cloud storage, and off-site data vaults. If possible, look for processors with 24/7 support who can help you in the event of any problems.

Invoicing

Clients don’t always pay on time. Late or open invoices can pile up and cause cash flow problems for B2B businesses. Not to mention the money invested on teams working to collect payments.

What if your payment processing gave you a way to manage all those late invoices and get paid faster?

EBizCharge Connect is an online invoicing portal where customers can securely log in and pay off their invoices. The portal syncs with your accounting system (Microsoft Dynamics GP, SAP Business One, and QuickBooks) and automatically posts payments to accounts receivable (AR) and the general ledger (GL.)

Customers can access the portal from any device and even pay on the go. You can brand the portal with your own logos and colors for a seamless payment experience. And to make payments even easier, you can send out automated email reminders to your customers so they remember to pay.

Conclusion

Your payment processor should make accepting payments easy and painless. When looking for superior credit card processing services, keep these key features in mind to get the most out of B2B payment processing.