14 Nov

By ipaytotal

Category: B2B Payment Processing, best high risk merchant account provider, best high risk merchant services, E-Commerce, online payments

B2B Payment Processing – How Do  B2B Payments Work? Comments Off

B2B Payment Processing – How Do B2B Payments Work?

If you are at the helm of a business-to-business (B2B) company, payment processing may not be at the top of your list of concerns because there is a traditional way of invoicing clients and waiting for your check but nowadays online options are much faster. Merchants are moving to the digital world of online payment processing also known as e-commerce.

B2B merchants nowadays take payments through debit and credit card for products sold and services rendered. With highly reputed, experienced and skilled merchant processors who are active in the B2B segment, companies like iPayTotal providing services to B2B companies are properly set up to streamline the ways you accept payments. Big savings on fees acquired from Visa and Mastercard are not only possible with this technology but can be accomplished with very little effort from the merchant.

There are several incidents when iPayTotal and encountered such wholesale merchants who did not know anything about Level 2 and 3 data and how much they can save from this. What is more is our various case studies that show where a merchant saved $20,000 and $30,000+in fees just by adding level 2 and 3 data. However, boosting business and payment processes with ACH and replacing it with physical checks.

For Business-2-Business companies, payment processing plays a key role and one must know below key points –

  • Your payment gateway could be stalling online sales if it does not have advanced functionality. It might not have a good system in place to ensure most payments get authorized or have the capability to fully support subscriptions.
  • Your payment gateway could be contributing to the obstacles standing in the way of sales, or doing little to address them. It could be that your menu of payment options is limiting sales, or if you do not have a website, that your gateway cannot support phone orders or invoice payments.
  • Your payment processor might not be giving you the right tools to create a seamless customer experience. Can buyers pay in multiple ways? Does your payment processing platform allow you to handle orders within the business software you are already using? Details like these make the payment process almost invisible, so your customers would not think twice about buying.
  • Your payment gateway could be complicating B2B payments for both you and your customers. You should not need more than one payment gateway to get everything you need for successful processing. It should also make things like reporting and reconciliation a snap.

    Same Day ACH

Including high risk merchant accounts, Banks are also on same day ACH bandwagon competing for the current market of credit and debit card as technology propels merchant accounts into the future. The Electronic Payments Association is the steward of the ACH Network – one of the largest, safest, and most reliable payment systems in the world of payment processing. NACHA is National Automated Clearing House Association, it is an organization that is responsible for all standards and rules followed by financial institutions for transferring payments.

NACHA adopts a new rule that allows better and more capability in moving money and processing ACH payment much faster. This will enable ACH payment the same day processing option. And B2B payments has huge significance in same day ACH payments. There this will make trade simpler and faster than ever. There will be seamless payment processing and businesses. The invoices payments will be settled faster.

What Exactly is Level 2 and 3 Data for B2B Merchants

It is overwhelming to learn ins and outs and core benefits for level 2 and 3 data. iPayTotal will help you recognize why this option will be a great one for the long-term success of businesses. Putting level 2 and 3 data in payment processing is simply attaching more data points to credit card transactions. This makes payments more readily available to wholesalers and B2B merchants.

This is understood that higher the level of payment processing, more will be data points added. Merchant account has more saving on interchange rates after adding level 2 and 3 data points. So more the data points more is savings on interchange rates and more saving on business profits.

Savings Benefits

Level 3 processing utilized by government transactions for processing payments in B2B business. Level 3 data processing cab bring serious savings on interchange rates which can include an overall rate of saving in at approx 1% lower than with standard transactions.

For example, you take a $20,000 sale to a large industrial buyer, using a typical MasterCard interchange schedule – with Level 3 data, that merchant account can save net over $200 in interchange savings – a huge saving on a single transaction. So, what are you waiting for? Team up with iPayTotal to save your money and get your payments more secure and your transactions processed faster and your business grow faster.

Hassle-free B2B payments without complexity or limitations

Whether you collect payments utilizing a recurring billing model, an invoice process, or standard one-time transactions, you require B2B payment processing that is quick, simple and secure.

High-volume, no problem. Efficient, full-service, minus the complexity. You deserve a business-to-business solution intended for high-volume operations selling low- to medium-priced products and services online.

Unlike businesses that still send paper solicitations and hold up days or months to get their money, your business can be increasingly productive through a full-service credit card processing solution that helps you:

  • Meet every regulatory requirement and limit fraud, removing you from the compliance load
  • Understand your customers and their purchasing behaviors with a full detailing and analytics solution
  • Handle cross-border international transactions with support for multiple currencies helping to reduce costs related to international transactions
  • Achieve integration with your financial system to guarantee a flexible and efficient solution

    Keep the B2B payments rolling in.

When your company has due payment for goods or services you’ve given to another organization, having the capacity to acknowledge payment quickly—and receive those funds in your bank account as quickly—is critical. When you partner with iPayToTal for your B2B payment processing, your company can expect:

  • Extensive card processing business services
  • More secure, compliant transactions
  • Lower cost, higher income
  • Faster development through global support
  • Flexible reporting

Also, the best part is that when your company chooses ipayTotal for your B2B credit card processing, your staff will have additional time and energy to concentrate on building your business and securing new clients. Spending time everyday mailing invoices, opening envelopes, and depositing paper checks will be a thing of the past. You’ll simply obtain your client’s card data, enter them into the system, and your payment will be processed rapidly and effectively over our secure network.

Payment processing and software integrated to take the complexity of out of payment acceptance.

When you select iPaytotal for your B2B credit card processing, you won’t have any surprises or additional software to purchase. We offer software integration services that will enable your business to start processing payments with us quickly while utilizing your current system. Your B2B payment processing system will be prepared to go from the very beginning, which means there will be not so much downtime but rather more revenue coming into your company.

When you choose ipaytotal for your B2B payment processing, you’ll also enjoy:

  • Reliable, secure credit and debit card processing
  • Streamlined payments processed from multiple POS locations
  • Live 24/7 phone and email support—even on holidays
  • Advanced troubleshooting and timely alerts to help you quickly resolve payment issues
  • Backup processing protection to protect your business if a network goes down

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