Buy Now Pay Later (BNPL) QuickBooks ProAdvisor solutions are growing in the B2B world, where finances and cash flow difficulties are recurring issues. A report by Allied Market Research estimates that the global B2B Buy Now Pay Later (BNPL) market will grow from $90.6 billion in 2020 to a whopping $3.98 trillion industry by 2030. As a byproduct of this growth, B2B BNPL solutions are getting funding at an accelerated rate to meet future demand. Drivers of market growth include the rising partnership of fintech and B2B payment brands. Bank-fintech collaborations have emerged as a lucrative and viable growth path for both sides of the partnership. For traditional financial institutions, working with a would-be competitor means integrating tools and technologies for customers without having to build anything from scratch.

Cost Structure and Transaction Fees

• We prioritized solutions that serve businesses of various sizes, from mid-market companies to large enterprises.
• A global payments platform provides onboarding for payees, which takes care of the data collection you need from vendors.
• Versapay’s accounts receivable management system automates outreach, prioritizes by risk, predicts delinquencies, and tracks customer behavior in real time—so collections get done faster.
• Smart Payment Links & QR CodesEmbedded smart payment links in email and PDF invoices, and QR codes on printed invoices, to reduce friction and increase on-time payments.
• At the core of our payment managed service is Lucrotec APeX, our purpose-built B2B payment operations platform.
• For businesses looking to improve cash flow, Melio also supports credit card payments on bills—even if vendors do not accept cards directly.

Tokenization systems protect sensitive financial data throughout the payment lifecycle. Vendor lock-in is when your business becomes heavily dependent on a specific payment provider, making it difficult or costly to switch to another solution. There’s no limit to what a B2B seller can offer to buyers, as every business’s automate b2b payments needs vary depending on their industry and how their business operates.

How to automate your B2B payments

If you are strictly a buyer, make sure your payment solution can receive and approve digital invoices. Paper checks do remain a prevalent form of payment for B2B use cases, with around 75% of companies still using them for https://www.bookstime.com/ payment purposes. However, alternatives like virtual cards are gaining traction quickly, with experts citing their simplicity of use as a leading factor in the increasing adoption rates.

B2B Payment Compliance and Security

A robust B2B payment solution is also a good way to simplify accounts payable and receivable. Rather than managing a bunch of checks coming and going, the software automatically scans, records, and stores them. Although credit cards incur interest rates (like an annual percentage rate (APR), when the revolving balance is paid fast, it gives a business access to extra funds. If the credit card is treated more like a debit card and paid off each month, it’s a highly beneficial form of payment.

Smarter, More Efficient Payments

This efficiency is often measured through the accounts receivable turnover ratio, which indicates how quickly outstanding invoices are collected and directly impacts a company’s liquidity. B2B payment automation software inherently captures financial data, which is critical for performing advanced analytics. Analyzing AP operations can reveal areas for process improvement and inspire ideas for reducing the payment cycle.