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Reveal Top Most Common B2b Payment Gateway For Your Business

Thursday, 09 Dec, 2021

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If you own a business, you likely will have to engage with a B2B company at some point in your journey. It's critical to understand “What is B2B?” and “What is B2B business?”, as well as “What is B2B payment?”, “Why does B2B payment matter to your B2B business?“, and “How merchants can leverage B2B payment solutions to better your B2B business?”.

you likely will have to work with a B2B

If you operate a business, you likely will have to work with a B2B firm at some point in your journey.

1. Understanding “What is B2B?”.

1.1. What does B2B mean?

B2B stands for "Business to Business”. This type of business model encompasses all companies that create products and services geared toward other businesses. The consumers usually aren't involved in this type of model, and come into play only at a later stage.

In this model, both the businesses benefit from each other in some way, and have comparable negotiating powers. They also employ professional staff and legal counsel who are constantly involved in negotiations with other businesses.

1.2. What is B2B business?

Some companies operate as both B2C and B2B businesses.

Some companies operate as both B2C and B2B businesses.

B2B businesses are supportive enterprises that provide things to other businesses. B2B businesses offer the raw materials, finished parts, services, or consultations that other businesses need to operate, grow, and profit.

Advantages Disadvantages
Bigger order volume and value Slow buying decisions
Higher conversion rates Limited market
Stronger relationships Very competitive
Streamlined business structure Difficulty forecasting trends

1.3. What is B2B business with examples?

SaaS products, B2B marketing firms, payroll processors, and industrial suppliers are a couple examples of B2B business.

A well-known example is the Apple iPhone itself. Apple makes iPhones under their trademark but sources various chipboards from Samsung. Although considered rival companies, there exists a B2B relation that profits both.

KEY TAKEAWAY

What is B2B? B2B (business-to-business) is a business conducted between one corporation and another, such as a wholesaler and retailer.

2. Types of B2B business.

Producers

Design, create, and manufacture their own products. Producers may sell their products directly to businesses, or indirectly through retailers or resellers.

Retailers and resellers

Sell products and services made by other companies directly to businesses. Retailers and resellers may sell online, from physical stores, or both, including B2B e-commerce vendors.

Agencies and consultants

Provide advice, oversight, and subcontracted work to businesses. For example, an advertising agency manages and executes a multimillion dollar advertising budget for a consumer brand. A website agency designs and builds a website and mobile app for the same brand.

3. What is the difference between B2C and B2B business?

B2B business is in contrast to B2C (Business to Consumer) models, which sell directly to individual customers, and C2B (Consumer to Business) models, in which users offer services for a business (such as customer reviews or influencer marketing).

Some companies operate as both B2C and B2B businesses. For instance, an events management company may offer wedding organization services, but may also provide conference management services to other businesses.

Another good example is Google. Google is particularly interesting because of its B2C and B2B business cross-over. Google is famous for the service it delivers to individuals looking for information (a decidedly B2C focus). But it makes its money by selling services to companies who pay for advertising (a B2B orientation).

KEY TAKEAWAY

The B2B buyers are likely searching for a solution for more than one problem, while a B2C shopper is focusing on a single issue.

4. B2B e-commerce is on the rise.

4.1. What is B2B e-commerce?

B2B e-commerce is the selling of goods to businesses. In contrast, B2C commerce is the selling of goods to individual consumers. The main difference is one of professional versus personal use. B2B e-commerce platform is an online service that allows B2B businesses to conduct business more easily.

4.2. Examples of large companies who utilize B2B e-commerce.

Alibaba

Alibaba is one of the world’s largest B2B e-commerce companies. The Alibaba B2B e-commerce marketplace is where buyers and sellers worldwide connect and transact business. It sells goods in 40 industries, serves 18+ million sellers and buyers in 240 countries and territories.

Amazon

Similar to Alibaba, Amazon is a renowned brand among people in many different countries. Amazon takes the lead in B2B e-commerce businesses under the name of Amazon Business, with $16 billion in sales in 2020. It provides an all-around package that includes all necessary features to any B2B business, such as: approval workflows, paying by invoice, multi-user accounts, etc.

Using a B2B e-commerce platform has several benefits.

Using a B2B e-commerce platform has several benefits.

4.3. Why is B2B e-commerce so important?

There are many advantages to using a B2B e-commerce platform, and they are vital to B2B business success. Here's a few reasons why using a B2B e-commerce platform is the direction to take:

Scalability

A great B2B e-commerce platform will allow your business to develop and scale easily to satisfy market needs and customer expectations by generating new sales channels and approaching new market segments.

Enhanced efficiencies

Customers can order online with convenience, customer service can concentrate on actual customer service functions instead of begging order takers, and the demand for rekeying data in independent systems is reduced. That will significantly decrease the chance of errors, enhance shipping processes, and boost order throughput.

More and more customers

Since B2B customers go online to look for the best prices, manufacturers, and distributors, a B2B e-commerce website with public-facing catalog pages is a robust way to access new B2B consumers.

Increased sales

B2B e-commerce enables you to easily deploy an automated cross-sell and up-sell suggestion program, providing related recommendations to customers on the website, and motivating them to buy relevant items or items with more features and functionality.

KEY TAKEAWAY

- What is B2B e-commerce? B2B e-commerce is short for business-to-business e-commerce, which is defined as the sales of goods or services between businesses via online channels. Instead of receiving orders in the traditional ways (by telephone or mail), B2B e-commerce transactions are carried out digitally, which helps reduce a great amount of overhead costs..

- Mentioning the significant presence of the e-Commerce world, people are familiar with many big names such as Amazon or Alibaba.

5. What is B2B marketing?

5.1. What is B2B marketing?

B2B marketing refers to any marketing strategy or content that is geared towards a business or organization. Any company that sells products or services to other businesses or organizations typically uses B2B marketing strategies.

5.2. Differences between B2B marketing and B2C marketing.

Let’s take a look at this table comparing B2B marketing and B2C marketing.

  B2B marketing B2C marketing
Goal Customers are focused on ROI, efficiency, and expertise. Customers are seeking deals and entertainment (which means marketing needs to be more fun).
Purchase motivation Customers are driven by logic and financial incentive. Customers are driven by emotion.
Drivers Customers want to be educated (which is where B2B content marketing comes in). Customers appreciate education, but don’t always need it to make a purchase decision.
Purchase process Customers like to work with account managers and salespeople. Customers like to make purchases directly.
People Involved in Purchase Customers make purchases for long-term solutions, resulting in a longer sales cycle, longer contracts, and longer relationships with companies. Customers aren’t necessarily looking for long-term solutions or long-term relationships.

5.3. Invest in B2B digital marketing.

Content marketing

B2B content marketing is using content to attract an audience, build brand awareness, collect leads, and drive sales. Successful B2B content is designed to be useful, informative, and professional.

Email

B2B email marketing has the highest click-through and conversion rate of any channel and allows for a lot of personalization.

Social Media

Tailor your social media marketing to match your audience's needs and wants while still conveying the value you bring.

Did you know that 57% of inbound marketers have obtained leads from LinkedIn, 52% from Facebook, and 44% from Twitter? Social media will help your B2B business! (Source: emarketer.com).

KEY TAKEAWAYS

If you run a B2B business, make sure the B2B marketing you’re doing makes sense, and isn’t a shaky translation from the B2C world.

6. A new B2B payment world.

6.1. What are B2B payments?

B2B payments (business to business payments) are the transactions that are processed between one merchant and another. B2B payments are conducted between corporations, startups, retailers, wholesalers, etc.

While similar to B2C payments, B2B payments have additional processes in place that make them more complex. B2B payments differ from B2C payments in size, volume, and other aspects, so B2B payment solutions are built specifically to handle B2B payment processing.

6.2. Example of business to business payments:

A B2B business might pay a supplier for office equipment, or a restaurant owner might pay for vegetables, fruits, and meats from their providers. In general, whenever one business invoices another one, it creates a B2B payment scenario.

6.3. What is B2B payment system?

A B2B payment system is the program a B2B business uses to process payments, but the best ones come with a few additional features.

Credit-worthiness tool.

Many B2B payment systems provide assessments of buyer credit. This allows sellers to limit the credit they offer or feel safer in selling to the buyer.

Integrated reporting.

Reporting is the most important feature of B2B payment systems. The best, like PayCEC’s B2B payment systems, include the ability to send automated payment reminders, report on on-time or late payments, collections, and more.

7. Best B2B payment solutions in 2021.

PayCEC always innovates by continuously reviewing new features, and making adjustments to the current experience. There are multiple factors that make PayCEC’s B2B payment gateway an impressive example of a B2B payment solution.

7.1. PayCEC’s flexible B2B payment solutions.

PayCEC's B2B payment gateway provides various payment methods.

PayCEC's B2B payment gateway provides various payment methods.

Can credit card payments be used in B2B payments?

Credit card payments are not only possible in B2B payment, they are increasingly common. PayCEC’s B2B payment gateway offers merchant accounts to accept credit and debit cards from buyers worldwide to not only enhance the seamless process of customer payment acceptance anytime, anywhere, on any device, but also increase the competitive advantages of your business, and skyrocket your sales.

Accept credit and debit cards from buyers worldwide to gain competitive

Accept credit and debit cards from buyers worldwide to gain competitive advantages of your business.

SEPA transfer acceptance.

PayCEC offers SEPA Transfers Acceptance, which will harmonise the payment acquiring process for B2B business from around the world, particularly startups and SMEs by offering seamless and secure digital banking transactions.

If you are a global business, you rely heavily on frictionless B2B payment processing within the SEPA zone, including 27 Member States of the European Union (EU), 3 countries of the European Economic Area (EEA) and 6 non-EEA countries, to which the geographical scope has been extended.

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Crypto payment gateway

Since the “Bitcoin boom” in December 2017, cryptocurrencies have been making noise across the world. Now, crypto payments are already accepted in PayCEC’s B2B payment gateway.

PayCEC’s crypto payment gateway is a licensed Money Services Business (MSB) that allows businesses dealing in Virtual currencies, Foreign exchange dealing, and Money transferring.

E-wallet

Credit cards are processed by e-wallet which you can use Visa/Mastercard/Amex or Paypal account. PayPal is designed to be safe for both buyers and sellers. All information that is communicated between your device and PayPal's servers is secured and encrypted.

7.2. Benefits of using a B2B payment solution.

B2B payment solution with hassle-free integration.

When selecting the PayCEC’s B2B payment processing solution, our merchants expect its ability to deliver simple integration. Hence, PayCEC’s B2B payment gateway is ready to offer an easy integration process without the need of IT expertise, so that merchants who have no coding speciality can save a lot of time in the integration process. Besides, along with detailed service guidelines are sent to our B2B business merchants, PayCEC’s Relationship Management is on-hand 24/7 to support you whenever you need.

B2B payment solution with optimal security tool.

PayCEC’s B2B payment gateway has kept the needs and requirements of the merchants in mind by diminishing the chances of fraud and errors through powerful security features, such as: 3D secure, Tokenization, and PCI DSS compliance.

B2B payment solution with dedicated customer service.

PayCEC's B2B payment gateway provider is available to assist merchants at
    any time.

PayCEC's B2B payment gateway provider is available to assist merchants at any time.

PayCEC’s B2B payment gateway provider supports live chat that helps its entrepreneurs interact with its Relationship Manager in real-time. Making every effort, PayCEC’s B2B payment gateway makes sure no sellers hit a dead end while using PayCEC’s B2B payment gateway.

Getting paid successfully is the ultimate goal of every B2B business. To achieve that goal, B2B companies need to meet their buyers at the right place and time, offer the B2B payment solutions that make sense in the transaction context, and be flexible enough to make sure that no deal falls through because of an inadequate B2B payment solution.

PayCEC’s B2B payment gateway is the gatekeeper of your customer's payment data.

PayCEC’s B2B payment gateway is the gatekeeper of your customer's payment data.

PayCEC’s B2B payment gateway acts as a middleman for the online e-commerce store and the payment processor. In simple words, it can be understood in a way as soon as a customer enters the payment details on the e-commerce website, here, the PayCEC’s B2B payment gateway is responsible for sending the payment details with utmost security to the payment processor.

We have gone through such an exciting journey to get a comprehensive understanding of a “what is B2B?” and all elements related to B2B business, B2B e-commerce, B2B marketing, B2B payments, and their outstanding examples.

With this article, we hope that you can find more necessary information about B2B payment solutions in a dynamic and competitive B2B e-commerce platform. Furthermore, if you want to explore the world of B2B payment, it is time to get on board with us. About us

Contact PayCEC today!

Read more:

About PayCEC

PayCEC’s B2B payment gateway was established in response to the growing need of businesses to accept online payments more quickly and easily. In the digital era, our payment flow has evolved to work seamlessly and effectively across all platforms and devices. We pride ourselves on combining superior technology with first-class customer service.

PayCEC’s B2B payment gateway is a truly global payments platform that not only allows customers to get paid instantly and securely, but also withdraws funds to their business accounts in various currencies.

We have created an open and secure payments ecosystem that entrepreneurs and businesses choose to securely transact with each other online and on any device. We proudly maintain the highest level of client advocacy in the industry.

PayCEC Team

Frequently Asked Questions

B2B payment gateway is a payment service in B2B sectors. This is a platform that helps companies who run business in B2B namely wholesale, business services, suppliers, marketing and PR services, business consultancy, partnership business, etc. to accept online payment from clients and manage funds with a merchant account.

B2B payment gateway acts as a middleman for the online e-commerce store and the payment processor. In simple words, it can be understood in a way as soon as a customer enters the payment details on the e-commerce website, here, the B2B payment gateway is responsible for sending the payment details with utmost security to the payment processor.

To collect the payment in B2B transactions, your company can easily make it possible by utilizing various features of PayCEC’s B2B payment gateway:

  • Credit/Debit card acceptance (Visa, Mastercard, American Express, JCB, etc.)
  • SEPA transfers or digital banking transfers.
  • Crypto transfers with a variety of popular coins such as Bitcoin (BTC), Ethereum (ETH), Cardano, Dogecoin, Litecoin, Bitcoin Cash, Filecoin, Ethereum Classic, Monero, and Helium and so on.
  • E-wallet like Paypal, Samsung Pay, Apple Pay, Google Pay.

B2B payments are important as they:

  • Foster scalability.
  • Enhance efficiencies.
  • Increase sales.
  • Improve customer experience.
  • Get more and more clients.

Here are some essential things you need to look for in a B2B payment system:

  • B2B payment solution with hassle-free integration.
  • B2B payment solution with optimal security tool.
  • B2B payment solution with dedicated customer service.
  • B2B payment solution with multiple payment options.
  • B2B payment solution with multi-currency payment.

Yes, B2B companies can facilitate credit/debit card payments with PayCEC credit card payment services.

PayCEC’s B2B payment gateway offers merchant accounts to accept credit and debit cards from buyers worldwide to not only enhance the seamless process of customer payment acceptance anytime, anywhere, on any device, but also increase the competitive advantages of your business, and skyrocket your sales.

PayCEC has compiled a list of the most common types of B2B payment methods that we should use:

  • Credit/Debit card acceptance.
  • SEPA transfer.
  • Crypto transfer.
  • E-wallet.

There are various prominent features of the B2B payment system, such as:

  • Checkout payment.
  • Account management.
  • Custom page payment.
  • Mobile and table page payment.
  • Risk management.
  • Real-time risk management.
  • 3D secure transaction.
  • PCI DSS.
  • Tokenization.
  • SEPA transfer.
  • Crypto Transfer.

PayCEC’s payment gateway handles the end-to-end process. You simply sign up for a merchant account, then add code to your website depending on your shopping cart open source, and now you can start receiving payments.

Follow steps below:

  • Step 1: The customer initiates a purchase, for example, by clicking a “Buy Now” button on the merchant's website, and will be redirected to PayCEC payment platform. The customer is required to input card details on the mandatory fields in the checkout page.
  • Step 2: The PayCEC payment gateway goes into action, first checking with the issuing bank to make sure funds are available. It will ensure the transaction won't exceed the customer's credit limit or bank account balance.
  • Step 3: The PayCEC payment gateway sends encrypted card information to the card payment scheme to process the transaction.
  • Step 4: The PayCEC card payment scheme approves the transaction, and the PayCEC payment gateway sends the information back to the merchant website to complete the transaction.
  • Step 5: The PayCEC payment gateway sends the information to the acquiring bank to move money from the customer's issuing bank account into the merchant's account.

PayCEC payment gateway is considered as the best B2B payment gateway as it always innovates by continuously reviewing new features, and making adjustments to the current experience.

Here are multiple factors that make PayCEC’s B2B payment gateway an impressive example of a B2B payment solution:

  • B2B payment solution with hassle-free integration.
  • B2B payment solution with optimal security tool.
  • B2B payment solution with dedicated customer service.

PayCEC’s B2B payment gateway has kept the needs and requirements of the merchants in mind by diminishing the chances of fraud and errors through powerful security features, such as: 3D secure, Tokenization, and PCI DSS compliance.

PayCEC embraces technology improvement to put customer experience on top of service quality.

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We are honored to serve as your reliable business partner and financial service provider in the industry and other business-related services. With the help of our professional staff, to help merchants to achieve their goals for the development and expansion of the international business market.

Our payment flow has developed in the e-commerce world to perform seamlessly and effectively across all platforms and devices. We take pleasure in combining technology with customer service, to solve your concerns at the moment.

PayCEC is a fully worldwide payment network that not only allows merchants to be paid immediately and securely, but also allows them to withdraw money in multiple currencies to their company accounts.

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