Business-to-business, or B2B, enterprises sell their goods or services to other businesses.
The series of actions or procedures needed to complete each online transaction or transaction completed with a payment method other than cash and cheques is known as payment processing. Data entry, authentication, verification, and the approval or rejection of the payment are the primary steps in this process, which depend on the method and type of transaction.
Thus, B2B payment processing refers to the processing of transactions of companies working with the business.
Getting started with money transfers is quite difficult, which is why large businesses often use this form of business payment to send and receive international transactions. Bank transfer transactions can be for any amount, so it’s a good way to send large payments between companies.
Money transfer through a banking network such as SWIFT or SEPA is a types of electronic funds transfer, or EFT, which means moving money directly from one bank account to another online. Western Union has historically pioneered money transfers, but wire transfers are now widely used by many companies around the world.
Collect & Pay is offering B2B payment processing via our platform. The main advantage of the Collect & Pay payment process is that we have a lot of bank partners around the world and all of the transactions will be fast and secured for all businesses. Moreover, the company can open an account remotely within 2 – 3 days. You just need to collect all of the required documents for account opening. The list of the documents you can find here – How to open and activate business account at Collect & Pay
Contact us to open a B2B payment account. Our managers will lead you from the application process to the onboarding on the platform – firstname.lastname@example.org