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call_us_teal call_us_white carousel_button_pause carousel_button_play check_blue check_white checkmark_circle_blue chevron_down_grey chevron_down_normal chevron_down_normal_black chevron_down_normal_dark_blue chevron_down_normal_hover_teal chevron_left_bold_dark_blue chevron_left_normal_black chevron_left_normal_white chevron_right_bold_dark_blue chevron_right_normal_black chevron_right_normal_white chevron_right_skinny chevron_up_normal chevron_up_normal_black chevron_up_normal_dark_blue chevron_up_normal_hover_teal circle_1_grey circle_1_teal circle_2_grey circle_2_teal circle_3_grey circle_3_teal clock_black close_x close_x_dark_blue close_x_hover_teal divot_down divot_left divot_left_outline divot_up email_receipts extra_location icon_fraud icon_fraud extra_register extra_users extra_users facebook flag_canada flag_usa form_checkmark form_checkmark_teal form_error_arrow_up google_plus innovation_api innovation_chip innovation_ecommerce innovation_hosted_pay_page 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Moneris B2B Toolkit

With B2B, there’s more to payments than paying or getting paid. That’s why we created this toolkit – to help you better understand the value of commercial cards and the B2B ecosystem.

B2B Payments 101

Learn more about the buyer and supplier relationship, and how B2B transactions work.

Why commercial cards?

Discover why commercial cards are beneficial to both buyers and suppliers.

Buyer Benefits

Increase Cash Flow

Extend your payment window

With cheques or EFTs, you can’t pay your suppliers unless you’ve got sufficient funds in the bank. There’s also a tendency to put off the payment, holding your funds while potentially straining vendor relations.

With epayables and commercial credit cards, you can pay much sooner because the money isn’t coming from you, it’s coming from the bank. You only need to pay once you receive your card statement. This increases your payment window by 20 days on average. This extra time increases your working capital and buying power, while potentially improving your supplier relations.

Streamlined Process

Efficiencies that drive the bottom line

Making payments is more than cutting cheques. There are paper and mailing costs, running after signatures, gathering remittance data and other inefficiencies.

With Moneris B2B Pay, inefficiencies are reduced through seamless automation and detailed remittance data with every transaction. It's efficiency through automation.

Reward Your Business

Payments that earn points

When was the last time your business earned something off a B2B payment?

Similar to consumer credit cards, commercial payment cards offer buyer incentives such as points, rewards and rebates. Unlike other payment methods, you can receive something in return every time you pay.

Enhanced Data

It’s all in the details

It’s estimated 15%* of B2B payments require a follow-up by the supplier because the payment lacks remittance detail. With cheques, it’s just a stub. And with EFT, the money and the reconciliation data aren’t together.

With Moneris B2B Pay, each transaction includes a detailed remittance report. It means better reconciliation for suppliers, and a stronger working relationship.

*Source: Store Financial

Beyond Borders

Enabling Global Payments

Working with a foreign supplier can cause additional hurdles to making a payment. There’s the mailing costs, currency exchange rates and making sure you’re getting what you’re paying for.

With Moneris B2B Pay, you can pay your Canadian suppliers, so long as it’s in Canadian or U.S. currency, without spending time or money worrying about sending money via wire or the mail.

Supplier Benefits

Faster Payments

Increase your cash flow

Why can it take so long to get paid? Within B2B, this long wait has just been accepted as the cost of business. And the longer you wait, the higher the cost to your business.

By accepting commercial cards, you’re paid much faster – with money deposited straight into your account as soon as the next business day. Faster pay equals increased working capital to invest in your business.

Streamlined Process

Efficient and automated payment collection

Receiving payments is a laborious, inefficient process – from compiling remittance data to collection and tracking troubles.

Card acceptance speeds all this up. For example, Moneris B2B Pay includes straight-through-processing, or STP, which puts the money straight into the supplier’s account with zero effort on the supplier side, complete with detailed remittance data. So you spend less time collecting and more time earning.

Reduced Risks

Fast and secure payments

When you accept cheques, you accept risk. Bad debt, fraud, unpaid balances and other insecurities can harm your business. And the longer you wait for payment, the higher the risk of not getting paid.

Unlike cheques or electronic fund transfers, the bank is the lender when you accept cards or epayables, not the supplier, so there’s much less concern about certainty of payment.

Enhanced Data

It’s all in the details

It’s estimated 15%* of B2B payments require a follow-up because the payment lacks remittance detail. With cheques, it’s just a stub. And with EFT, the money and the reconciliation data aren’t together.

With epayables solutions such as Moneris B2B Pay, every transaction includes detailed remittance data. This means quicker payment reconciliation, freeing up your finance department to spend more time analyzing and forecasting sales, and less time searching for information.

*Source: Store Financial

Increased Sales

Convenient options make it easy to buy

In the consumer world, customers expect to be able to pay for things in whichever way they prefer. The same is happening within B2B, with some buyers making card acceptance part of the RFQ process.

By accepting cards or epayables, you’re potentially increasing your customer base. And because it’s payment through credit, you’re increasing your buyers’ purchasing power, which may mean increased volume and spending capacity.

Beyond Borders

Enabling Global Payments

With buyers from abroad, getting paid can be challenging. There’s exchange rates to deal with, and some banks don’t allow electronic payments from foreign accounts. So you’ve got to wait for the cheque.

With cards and epayables, you can receive payment from any country, so long as it’s in Canadian or U.S. funds.

B2B Glossary

Know your B2B payment terminology

Learn More 

Smart Reads

Where are B2B payments heading? What’s trending?
Read our white papers and other articles related to B2B.