02/26/2024

Real-time B2B Payments Yield Advantages for Merchants

These payments allow funds to be transferred instantly

The business-to-business (B2B) industry has been using legacy payment methods like checks, wire transfers, ACH, trade credit and cash payments for years. These traditional processes have been the backbone of B2B payments for a long time; now merchants are exploring modern alternatives that offer greater speed, security and efficiency in the evolving financial landscape. One area of recent interest is real-time payment methods.

Unlike traditional B2B payment methods that involve batch processing and settlement delays, real-time payments allow funds to be transferred instantly, 24/7 and help avoid cash flow disruptions, missed vendor payments and more. Merchants can experience the benefits of instant payments that eliminate issues and provide faster access to funds, making them more competitive.

Overcoming Hurdles to Utilize Real-time B2B Payments

Real-time payments offer B2B companies many advantages such as enhanced speed and efficiency, reduced transaction costs, improved cash flow management, minimized fraud risk and improved transaction transparency. For small-to-medium-sized businesses, instant access to funds boosts cash flow that is vital to the health of a company.

Please select this link to read the complete article from OSAP member i3 Commerce Technology.