With payment technology becoming more and more prevalent and accessible in our day-to-day lives, B2B mobile payments are beginning to take hold in a big way. In order to avoid being left behind in the race to mobilize for increased efficiency, companies are quickly switching to mobile-based payment processing for their B2B transactions.
Indeed, there are many reasons why mobile payments are beneficial, and these reasons can vary depending on whether you are a retailer or a supplier. In order to lay out and define the benefits of mobile payment processing for these two trading partners, the following summaries walk us through the necessary steps in order to process a mobile payment from each perspective.
You are a busy retailer. You manage one or more retail locations and are responsible for most daily operations, including the front end checkouts, individual departments, customer interaction and the behind-the-scenes operations to ensure everything runs smoothly. In the midst of all this activity, you must pay for your supplier deliveries at the back door.
Paying with cash can be risky, and checks or money orders can be cumbersome. In addition, attaching these payments to the supplier delivery and tracking them for reconciliation can make for a considerable amount of book-keeping. Instead, move into the foreground of B2B transaction processing with a mobile payment solution, and adopt the following easy process:
You're a supplier with warehouses full of stock. Retailers are ordering from you left and right, and you have to keep the orders straight. There is pressure to select items ordered and then deliver them in a timely manner to the correct destination. While your employees accomplish these things, you must make sure the book-keeping is straight. You have invoices to file, checks to deposit, and credit cards to run for payment.
With a mobile payment process, you could accomplish all of this from anywhere on your phone with a few taps of a button in the following steps:
As you can see, mobile payment processing is a win-win for retailers and suppliers, saving both time and money spent managing files. It's time to process B2B payments more efficiently and mobile payment processing is the way to go. Click the link below to see how PayApp™ by iControl can help your business.
Topics: Mobile Payments