The most compelling reason is that many of your clients prefer doing business that way. This is especially true with smaller and start-up businesses, as they tend to rely heavily on corporate credit cards. Accepting B2B card payments helps connect your business to these customers.
Today online and electronic payments comprise only a fraction of B2B sales. However, that volume is growing — and quickly. Forrester Research reported that 2015 online sales totaled $780 billion, a figure that is expected to increase to $1.13 trillion (with a T) by 2020. There is great potential in the industry and you can start tapping into that revenue NOW by accepting credit card transactions.
And that’s not all….. consider these additional advantages.
- Payment integration: Credit cards allow for payment integration, while cash, checks and money orders must be manually processed and entered into your accounting system.
- Faster deposits: Credit card payments post much more quickly than checks.
- Interchange savings: Level 2 and 3 card processing allow for increased security and lower interchange rates.
- Increased security: Debit cards, ACH payments and checks are all tied to a customer’s bank account. Credit card transactions allow for additional fraud protection (for both parties) and easier customer returns.
Ready to reduce risk, attract new customers AND streamline your B2B accounting operations? Contact OMEGA Processing Solutions today for an account analysis. www.omegap.com