With so many companies both in Europe and the States doing business with their vendors online, there is a growing need for new payment solutions in the B2B e-commerce environment. Most of the current payment systems in use are no longer adequate for the volume and sophistication of the transactions occurring online. The situation in B2B reminds me of the jingle, “I scream, you scream, we all scream for ice cream!” However, the traditional payments players don’t seem to have ice cream, and even worse, it appears to be making them deaf.
What B2B e-commerce companies are looking for is a new cutting-edge solution that gives them new, more advanced, and more proficient options for making and taking these payments. Online marketplaces such as GKS Handelssysteme GmbH, which have been operating for many years in the commercial e-commerce world, have been searching for better electronic payment methods that offer risk reduction, accelerated sourcing, and the chance to make more profit through faster, safer, smarter trade with their 30,000 members. Until recently, they could not find it.
Online marketplaces like GKS are looking at a tremendous potential for growth in the B2B e-commerce sector and finding that it cannot be handled by the older more traditional payment systems. Today’s typical methods of payment are not cost-effective for merchants, and were never designed to operate in the context of B2B. Companies in the Digital Age need a better method of payment that is predictable, secure, flexible, and capable of operating in real-time, 24/7. It also must be able to handle rich data, and integrate directly to existing corporate back-office IT, business workflows, and online portals. Of course, it also must be able to connect the buyer and seller directly, and enable transparency and real-time collaboration and communication between counterparties to inspire trusted trade and fast resolution should difficulties arise. It is in these critical areas for B2B that today’s typical methods of payment fall short.
B2B e-commerce businesses will gain a competitive edge with such a payment capability because it improves buyer conversion rates, accelerates payments, and providers a superior customer buying experience. The accelerated pace of migration of commercial transactions to B2B e-commerce today demands an advanced electronic payment method to match.
We believe that companies should be able to conduct business from anywhere and anytime, 24/7 without financial risks brought on by fraud and lost payments. This is our mission and our passion at Traxpay, and with millions of transactions happening across our platform, we are excited to see our customers accelerate, protect, and generate new and significant revenue streams. Since 2010, Traxpay has been listening to the screams of the B2B market, and has been at the forefront of changing the way businesses pay—and get paid—ever since. Good news! We’ve got ice cream for everyone, and in any flavor you want.
Contact us at firstname.lastname@example.org to learn how Traxpay can help you with faster, safer, smarter commercial transactions.