A buyer-initiated payment (BIP) is a business-to-business transaction made with a commercial card whereby the buyer sends a direct credit card payment to a supplier’s bank account, with zero action required by the supplier.
From the buyer’s perspective, it’s a simple matter of initiating the process. For the supplier, there’s no effort required.
The buyer sends an electronic payment instruction to Moneris B2B Pay.
Moneris B2B Pay processes the payment, directing the funds into the supplier’s bank account.
A remittance report is emailed to the supplier.
Moneris B2B Pay, powered by Boost Intercept, is a buyer-initiated payment-processing solution. Fully automated, it simplifies your accounting process while helping to improve overall business management.
Connect directly with our B2B expert, Daniel Charron1‑866‑943‑8929