B2B Marketplace: focus on payment solutions

Asynchronous payment methods

The first marketplaces The first B2B payment systems to emerge mainly used asynchronous payment methods, such as cheques and bank transfers. Impractical, slow and time-consuming for companies, these payment methods are increasingly being abandoned in favor of asynchronous methods. checkouts more innovative.

Bank transfer

It has certainly been the most widespread payment method in the B2B ecosystem until now. Not only can it be used for any transaction, it's also a universal means of payment. However, the bank transfer poses certain problems, not least in terms of speed. It often takes between 2 and 5 days for the money to reach the company's account, which can be a source of financial instability for some companies if the transfer is delayed.

Cheque and cash on delivery

Used for many years in the business world, payment by cheque is tending to disappear. Before a cheque can be cashed, it has to undergo a credit check, which can take a long time and have a serious impact on a company's cash flow. In today's fast-paced business environment, B2B companies have no time to lose.

As for payment on delivery, this is only possible when the amounts involved are fairly small, which is quite rare in the B2B sector. The average shopping basket is estimated at 2,067, or €1,853.43 . A sum that can hardly be paid on delivery.

Direct debit (SEPA)

This method is mainly used for subscriptions or recurring payments, and can be set up between a company and its business customers. It enables invoices to be debited automatically from the accounts in question.

The reign of credit card payment

The bank card represented 80.1% of B2C e-commerce sales in 2018 . This trend is now confirmed, and also applies to the B2B sector. It's an alternative to bank transfers and cheques that is becoming increasingly popular with B2B customers, particularly for orders under 5,000 euros. Especially since banking transactions have become considerably more secure in recent years, with the democratization of 3D Secure. This authentication system protects Internet users against bank fraud and hacking.

New-generation payment methods

According to a study by Xerfi (a research institute specializing in sectoral economic analysis in France), over the past 5 years, B2B purchases made online have grown by 94%. This upward trend is all the more evident in a post-pandemic context, which has accelerated the digitalization of the B2B sector. Not to mention the emergence of new players in the fintech which aim to make B2B transactions easier and more fluid.

Electronic wallet payment

Traditional payment methods are gradually being replaced by new online payment processing services. Such is the case with e-wallets, which enable customers to pay on any site by simply entering a login and password. The advantage: customers only give their bank details when they register for the e-wallet. This means they don't have to enter their details for every transaction. PayPal and Amazon Pay are certainly the most popular players on the market.

Easy payment with Hero

To meet the new needs of B2B customers and combat late payments, fintech startups have come up with an innovative solution: to offer the checkout online B2B, with payment facilities such as fractional or deferred payment. Such is the case with Hero the first solution of checkout B2B, which offers the option of payment in instalments. The company, for its part, is paid directly, with the platform handling the transaction between the two parties. In the event of non-payment or late payment, the platform assumes full responsibility. The solution win-win for B2B companies and their customers.