B2B Apps Give Firms a Competitive Edge

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The days of mailing checks, trying to collect past due payments, and checking the PO box are numbered. Today, the Business-to-Business (B2B) industry can pay a bill, send an invoice, receive a payment, and run a card in an instant. Thanks to modern technology, the power of processing payments has now been optimized for mobile. All it takes is a tap or swipe on a touchscreen.

B2B mobile payment processing systems have gone from a cool new tool to a downright necessity. And in this fast-paced world, solutions that are quick, secure, and efficient are imperative for customer satisfaction, financial security, and business efficiency. Payments executives and chief financial officers want more from their business payments than just making them digital; they expect an experience that mimics the ease and convenience of retail payments.

How Mobile Apps Expedite Transactions

It’s easy to understand why suppliers want online portals. There is a benefit in knowing where payments are in any point during the transaction. B2B mobile apps can give customers access to a credit line right away so that they don’t have to wait for a physical card. The customer is then able to buy online, in-store, or call a salesperson at their convenience. This method alleviates the need for the merchant to update their POS system and the client gets to pay the way they want to. Apps can also offer multifactor authentication. This transparency helps build trust between buyers and their suppliers.

B2B Apps Give Firms a Competitive Edge

B2B app solutions need to accommodate the varying needs of small-to-medium sized suppliers as well as large enterprises and that is why flexibility is imperative to be successful. The different industries that these solutions must cater to can also vary greatly.

Centralized platforms can help businesses consolidate their supplier and buyer relationships in one place, with full visibility and transparency on the progress of those payments. For smaller companies, especially those with a range of payments (Venmo and Zelle among them), coming through a centralized view of transactions can improve operations markedly.

Improving the client’s experience can give a business a competitive edge. Increasingly, suppliers want more options on how to make payments and want to do it in a seamless fashion. If they do not have those options, suppliers will likely switch to a competitor that can meet their needs. With B2B apps, buyers now have the option to improve this B2B payment cycle and keep customers happy while improving cash flow.

Learn About i3 Merchant Solutions’s B2B Payments:

Contact us online or call 1-877-875-6114 x3.

Check out i3 Merchant Solutions’s newsroom.

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