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Mobile Payments

(Used for SEO) How Mobile Payments Are Revolutionizing B2B Transactions

Here are just a few ways that mobile payments are revolutionizing B2B transacting.

There are two kinds of businesses in today’s corporate landscape: those who keep up, and those who don’t. Keeping up means harnessing innovations to meet market shifts, increase performance levels, and uncover new opportunities.

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Failure to do so means being left behind and missing out on a wealth of opportunity. The fact that
almost a quarter of small businesses don’t have a website highlights how many companies continue to ignore technological innovation and the solutions they have available to them.

The shift to mobile B2B payments, for instance, replaces time-consuming and error-prone payment processes with automated digital workflows. The advantages go beyond payments alone—mobile payments also improve:

  • Transparency
  • Planning
  • Reporting
  • Liquidity
  • and Efficiency.

Here are more ways mobile payments are revolutionizing transactions in the B2B space:

Closing The Cash Gap With Real-Time Payments

Paper-based payments are inherently slow, as they depend on invoices and checks making their way through mailing systems. USPS First-Class mail can take up to three days for delivery, while a standard mail can take up to eight. With the postal service’s job cuts and low margins over recent years, things aren’t set to improve anytime soon.

Another drawback of traditional mail is that it requires extra cash to be kept on hand. For many businesses, this means dipping into overdrafts or making loans. B2B mobile payments change this, so you can invoice and make payments instantly, paperlessly, and on the go. Personnel aren’t needed to initiate, process, and verify payments. A mobile payment system also allows for flexibility in payment methods, which further helps to speed things up. In this way, distributors save labor, time, and money.  

From Snail Mail To Email

Digital recordkeeping systems help distributors improve their day-to-day operations. This is an important consideration because, in practice, systems don’t run in isolation. For example, implementing a digital inventory system while using paper-based payment processes can result in a disjointed supply chain that yields little ROI.

Beefing Up Security

Fraud is an understandable concern for companies considering mobile payments—B2B or otherwise. However, mobile B2B payment solutions are considerably safer and more secure than traditional payment methods. Also, mobile B2B payments leave far more detailed “paper trails” than paper-based systems. As such, financial data can be closely monitored, approved, and reviewed, effectively closing many security loopholes.

B2B Mobile Payments Are Becoming The De Facto Transaction Method

Updating your distribution company’s payment system can improve timelines and help you achieve new levels of efficiency. Mobile B2B payment solutions are helping companies meet new market and industry shifts with modernised, digital payments.




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