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Companies: pay online, it's possible! How does it work?

Companies: pay online, it's possible! How does it work?

Temps de lecture : 5 minutes

Still paying by cheque? Above a certain volume, paying by paper is problematic: not only does it slow down the payment cycle, it also exposes companies to a higher risk of late payment and fraud. Fortunately, B2B online payment is booming, offering many opportunities for professionals.

Online payment: a possibility on merchant sites, but also for transactions offline

Historically, B2C was the first sector to move away from traditional payment methods, with the widespread use of non-physical methods. These include the well-known online transaction, as well as mobile payment.

Long lagging behind, B2B is now catching up in the adoption of these dematerialized payment methods.

The first application that comes to mind is, of course, e-commerce, i.e. the transactions that take place on merchant sites and the like. marketplaces . But B2B merchants can also use digital payment solutions like Hero for all transactions that don't go through a website.

Digital payment speeds up and simplifies the entire B2B order process, with better tracking of the entire payment chain. There are several possible solutions for implementing digital payment, including :

  • Payment by credit card via a distance selling contract (VAD), offered by many banks

  • Payment by credit card without a distance-selling contract, on specific secure platforms (which are not banking organizations).

  • Payment by PayPal

  • Direct debit (SEPA)

Online payment for businesses: how does it work?

Online payment greatly simplifies B2B transactions, eliminating the complexity and errors inherent in physical payment methods.

On the buyer's side, this is simply done via a platform such as Hero, asking the buyer to use his or her bank card; the choice of platform and its installation are the supplier's responsibility. Nowadays, credit cards and bank transfers remain the simplest, most efficient and most universal means of payment - an excellent alternative to paper cheques!

Whether you pay via a bank or another organization, the security of online payment platforms has become much more stringent in recent years. This means you can pay for your purchases in total security, thanks to a strict, secure authentication system - and much more quickly than by check.

What are the benefits for companies?

More and more B2B companies are adopting online payment solutions. Indeed, the simplicity of the payment process is a key criterion in the customer experience. For buyers, online payment offers many advantages.

Firstly, it saves a lot of trips to the bank. Since the pandemic, with the reduction in travel, remote payment methods have become widespread!

Secondly, online payment is much simpler and less time-consuming than payment by cheque. In fact, the time it takes to send and cash a cheque can be very time-consuming, making it difficult for both parties to keep track of cash flow.

Digital payment for B2B transactions also reduces the risk of errors, not to mention delays and non-payment. It's much more convenient to implement than a physical means, allowing you to pay invoices anywhere, anytime. All in all, it saves time, energy and money for both buyer and supplier.

If you still pay by cheque, with the delays and lack of flexibility that this entails, ask your suppliers to offer you an online payment method!

Écrit par

Valentin Orru

Head of growth