What are B2B payments?
Types of B2B payments
- Bank transfers
- Credit and debit cards
- Electronic Funds Transfer (EFT)
- Payment gateways
- Traditional and online banking services
- Payment processing software
Factors to consider when choosing your B2B payments solution
Flexibility and scalability
Terms and conditions
Costs and expenses
Security and compliance
Integration with systems
- Accounting software
- ERP systems
- e-commerce platforms.
Making the final decision
You’ll want to have a sound understanding of your payment solution's key features and capabilities - and whether it's suitable for the specific needs of your business.
Once you’ve identified potential solutions, it’s time to reach out to providers for detailed proposals and quotes. Ideally, you’ll want to compare solutions and see which one aligns better with your company’s needs. Learn more about 3S Money pricing.
Demos give you a great opportunity to see the interface and functionalities in action - and more importantly, whether they’ll align with your business. Trials take this a step further, allowing you to use the solution within your business's environment.
It’s always a good idea to create a plan that outlines the steps and timeline for deploying your chosen solution within the business. This includes considerations for things like data migration, employee training, integration etc.
Lastly, once you’re all up and running, tracking key performance should be the next priority. Key performance indicators (KPIs) should be set to measure the solution's impact on efficiency and cost-effectiveness overall.
Enter new markets with 3S Money
3S Money is a business banking solution offering bespoke services that suit the needs of each business - including international payments. Ready to enter new worldwide markets? With a 3S Money account, you can accept payments in over 65 currencies across over 190 different countries. Get started today.