Around the world many e-commerce companies cannot operate globally. Either because of lacking legislation or expensive payments systems, the fact is that introducing a product to global audiences can be difficult - and often - impossible. This is no more a reality thanks to B2B Pay's ability to connect international e-commerce players to their customers in the USA and in Europe thanks to our virtual bank account technology. With a European banking presence we connect your credit card yielding European customers directly to your local bank account. With this, you get paid - trouble free and in your currency - from anywhere.
International e-commerce is often impossible thanks to regulation and prohibitively expensive banking. Businesses want to accept orders from abroad but banks don't want to take this business due to what they consider to be high risk.
Virtual Bank Accounts (VBAs) can be used to create the necessary European banking presence that is often a key requirement from regulators to enable international e-commerce. With our VBA, European credit card payments go to your European virtual bank account, either in pound sterling or euro. We then make the international transfer to your local account the same day.
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A large scale e-commerce system wants to capitalise on the favourable exchange rate and flexible import tariffs between Brazil and the EU. Unfortunately it is 2017 and no effective method exists for a million-a-month operation to sell from Brazil to the EU because of a variety of factors including overbearing regulation and a wall of bureaucracy that scares away even the most keen. A European virtual bank account by B2B Pay connects the international customer to your local bank account seamlessly without the need for expensive European subsidiaries. Transactions are low cost, starting at 1% above the mid-market rate and the Brazilian business get a notification when the money hits their account.
What constitutes a good B2B payment system in e-commerce
The minute you start your online e-commerce venture, you realize that getting paid is too difficult from your international customers, vendors and partners. This is the pain point that B2B Pay virtual bank account technology is able to virtually eliminate with automation and the subsequently achieved high level of efficiency.
In practical terms, this means that you get to have customers that otherwise you could not have because they could not pay you easily. This also means that you get a chance to expand your operations abroad and experiment with audiences and localisation tools. Perhaps your next big market is in China or Indonesia: this is possible thanks to our B2B Transfers.