How do you choose an online payment solution for your B2B e-commerce business?

What are the most popular online payment solutions?

According to a study by Fevad (the French e-commerce and distance-selling federation), bankcards are still the preferred means of online payment for all French people, as shown in the table below:

However, many other payment methods are becoming increasingly popular, particularly electronic payment solutions (Google Pay, Hero, PayPal...). But what's most striking is the versatility of French Internet users, since more than half use several payment methods With an average of two different payment methods per user. This explains why the diversity of payment solutions on an online sales site is crucial to customer satisfaction. And that's not all, 88% of French people ** believe that the diversity of payment methods is an important feature on an e-commerce site**. This applies to both B2C and B2B customers.

What criteria should you use to make your choice?

The choice of a payment solution for your site should be guided by very specific criteria, which are different in B2B and B2C commerce. In the former, the average basket size is higher, because purchases are made in bulk. It's therefore essential that you consider the following elements when deciding which payment methods to adopt.

Study your target's preferences

A thorough analysis of your target clientele is essential! To do this, you need to ask yourself the right questions. Is your B2B target group start-ups, entrepreneurs, SMEs or large corporations? Are you aiming for an international audience? What are the digital practices of your current and potential buyers? By doing this research, you'll be able to determine preferential payment methods.

Purchasing typology

The type of purchases made on your B2B e-commerce site is also a factor to consider when choosing the right payment solution. For example, you'll need different payment methods if you sell luxury goods, which are more expensive, or conventional products.

Aligning with your strategy

Overall, your choice of payment methods should be guided by your commercial strategy. For example, if your customers have a high average basket and buy in bulk, it's preferable to offer the deferred payment or the fractioned payment as offered by Hero. It's a way for B2B customers to spread their payments over several months. For companies, it's a real differentiator and loyalty-builder.

Payment methods: reassurance for your B2B customers

On online sales sites, lack of trust is one of the main reasons for shopping cart abandonment. To overcome this problem of mistrust among online B2B customers, you need to prioritize transaction security at all costs, with the implementation of the 3D Secure system or the use of secure platforms such as Hero . Establishing a bond of trust with your customers is essential to building loyalty.

In general, it's highly recommended to opt for a range of payment methods, to reach the widest possible target and avoid shopping cart abandonment. It's the golden rule of a good customer experience! Bank payment, direct debit, digital check, electronic payment, payment in instalments: multiply the possibilities to build loyalty among your B2B buyers.