API for B2B payment solutions

Payment APIs are shaping the future of money. While this has become more and more obvious in customer-facing sectors, it is also happening in the business-to-business (B2B) space. B2B Pay provides an API for international B2B payments. Right now, B2B exporters are losing a lot of money on currency exchange and transfer fees.B2B Pay is changing that by providing a virtual bank account coupled with the lowest transfer fees on the market. We are also working on enabling more money processes through a convenient API that gives programmers more control.

B2B payment solutions: background

The entrance of B2B payment solution systems has greatly altered the future of enterprise profits in the global market. Virtual bank accounts with payment gateway features are the optimal solution for global exporters. Merchant systems now integrate with the latest in virtual payment gateway technologies and applications, which enables companies to perform credit card and cross border transactions, currency exchange, and wire transfer electronically in accordance with RBI authorized and compliant regulation. B2B payment solutions reduce credit card fees as well as FX conversion and transfer fees by 2% to 6% per transaction.

International money transfer API

Export Commerce on a Cloud

The next generation of B2B enterprise solutions with virtual payment gateways are supported by cloud computing infrastructure by way of SaaS (Software as a System). SaaS capabilities make it possible for merchant terminals to create direct links with other enterprise systems online. With SaaS payment applications, funds verification for customer transactions is available on the spot, eliminating delays in disbursement of funds and order processing.

Cloud-based Electronic Funds Transfers (EFT) enable merchants to control transaction risk, while mobilizing transaction data for use in inventory record and sales reporting. Innovations in online B2B operations now enable merchants using payment gateways to advance supply chain management toward zero waste and greater profits. The most sought after solution for multi-site and multi-user enterprise account management, B2B payment networks enhance a company's accounting, customer management systems, and reporting on promotional offerings at point-of-sale.

India: eCommerce Benefit of B2B Payment Solutions

ECommerce is responsible for up to 40% market penetration for certain segments of international trade, and is a key driver in the future of India's success in commerce worldwide. The integration of B2B payment solutions in global commerce has increased the opportunities for export trade. In spite of risks associated with inventory loss, data theft, and transaction fraud, the influx in eCommerce demand by customers abroad has promoted the development of new enterprise solutions in the payment gateway segment of the financial services market. With these new payment systems, risk in cross-border payments is virtually eliminated. Smarter, faster, and safer than ever before, B2B payment solutions are the answer to the continued proliferation of global eCommerce as a significant force in export trade performance.

Virtual B2B payment solutions enable enterprises to verify credit card authorization on all EFTs by way of a secure terminal network. The most popular credit card payment mechanism on the market, B2B payment solutions allow customers to pay with an internationally recognized credit card. Most web based B2B payment solution providers accept major credit cards such as American Express®, Carte Blanch®, Diner's Club®, Discover, JCB Cards, MasterCard® and Visa® on their networks. Some B2B payment solutions also support transactions via secured bank account card debit PIN, cheque, and gift card payment.

Fast-forward Mobile Payment Gateway

Providers of B2B payment solutions supported by Voice Over Internet Protocol (VOIP) or by dial-up connection can also benefit from mobile payment gateway access to customers. With the integration of mobile app payment gateways, customers can order and pay on their smartphone, or other device from any location via credit card or other approved payment source. Merchants with a registered mobile payment terminal can also accept payment over a bank switch, IVR, SMS, USSD and WAP/GPRS services and IMPS (Instant Mobile Payment Services) financial transfers.

Mobile commerce features in B2B payment solutions enable eCommerce sites to accept payments from a mobile wallet. Mobile banking solutions may also include other services such as bank account balance query, foreign currency funds transfer, stop cheque payment, statement enquiry, rewards points system tracking, transaction status reporting, and bank locator services.

B2B trade credit

In general, importers pay for goods long after the money is needed to produce them. There could be as much as six months between the point where the goods are produced and the moment the payment is on the exporter's bank account. That's why B2B trade credit is becoming more and more popular. Letters of Credit, Bills of Exchange and other forms of credit that increases the liquidity for exporters allow companies to grow, which is good for global GDP.

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