Winner of the Best Payment Provider in The Netherlands four times running, Buckaroo have released a white-paper that delves into the shifting paradigm of B2B payments. Juxtaposed with the digital shopping trends seen in consumer purchases, this white-paper notes the similarities and differences with B2B payments, and details the considerations and options informing “the ideal B2b payment strategy”.
Collecting insights from industry experts in such companies as PayPal, Visa, In3 and AfterPay, the broad range of digital B2B payments options are uncovered, and their relative advantages discussed. By extension, the suitability of certain options are catered to different customer groups of varying security and verification characteristics to outline a more wholesome approach to payment services provision. Importance is also placed on credit management and payment failure, as this is vital to constructing a well-rounded payments strategy for B2B.
The prevalent themes underpinning the findings are that while B2B payments are following B2C payments with a strong trend in digitising services, different customer groups require tailored online payments options and credit management strategies due to the varied nature of B2B relations. “A B2B payment strategy (also in view of cost of sale) is no longer just a nice-to-have but in fact an absolute must,” and consists of a well-rounded approach to all facets of the payment process combined with tailored options to suit each individual customer type.
The white-paper can be read in full here.