What Merchants Need to Know About B2B Payments
Understanding how they work is key to successfully running a company
As a business that accepts payments from other companies, a big part of safely exchanging money is providing customers with a stable, efficient and secure method of paying for goods and services. Understanding what business-to-business (B2B) payments are and how they work is key to successfully running a company.
B2B Payments Defined
A business-to-business payment refers to any monetary transaction between two businesses. The B2B payment process is conducted between a business that has purchased a product or service and one that has provided the product or service.
Common examples of B2B payments are purchasing inventory, services rendered, or even rent. These types of payments tend to be large and can be recurring. To make a B2B payment, sellers typically send itemized invoices and wait to receive payment from the buyer.
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