Merchant Processing Group:
B2B payment systems can help expedite both transactions conducted on exchanges and those conducted between existing trading partners. Regardless of the model of the payment system, you should expect to see some degree of each of the following qualities in a B2B payment system:
- Provides assessment of creditworthiness of buyer to seller (or guarantees the payment by the buyer to the seller)
- Provides some guarantee to buyer that goods will be of the quality specified and will be delivered (escrow-type service)
- Permits sellers to conduct business with unknown parties without fear of repudiation or fraud
- Provides faster collection of funds, usually at some discount rate, to the seller; may also extend the payment window of the buyer at some additional cost
- Provides reporting of delivery of goods, approval, invoicing, payment, collections, etc.
- Provides faster collection of funds, usually at some discount rate, to the seller; may also extend the payment window of the buyer at some additional cost