The secure way to get rapid payment and cut card charges
b2b.store has created dynamic links to help businesses get paid quickly and cut down on unnecessary admin. Thanks to our adaptation of the latest open banking technology, invoices can be paid almost instantly – improving cash flow and bypassing costly card transaction charges
What is B2B Open Banking?
Open Banking allows wholesalers to accept payment by bank transfer and is an extremely secure means of payment, offering two principal advantages compared to debit, credit or corporate credit cards.
Firstly, it's much cheaper when compared to the cost associated with processing payments from a card, direct debit or the cost of handling high values of cash. Secondly, payments are received more quickly, with payments arriving in your bank account within seconds – compared to two to four days for card payments.
It can be incorporated into various areas of your business, offering an enhanced audit trail of when a payment is made and by whom. Payments can be associated with specific invoices, reducing the overheads associated with reconciling accounts, while finance teams can be notified via email when payments have been made, by whom, and to which invoice it relates, further reducing costs.
How do payment links enhance B2B Open Banking?
B2B Open Banking is a quick, direct method of making secure transactions, but payment links speed that process up by another notch. B2b.store gives wholesalers the chance to send dynamic links directly to their customers, taking them straight to a payment screen with one simple tap or click.
The links can be included as a preferred payment method on invoices, or shared with customers by email or communication method, including B2B WhatsApp (see below for more), or integrated into external websites or part of existing eCommerce.
Landing pages can be branded with a wholesaler's logo so it's unique to that business, with most major UK banks now accepting open banking transactions.
B2B Open Banking with B2B WhatsApp
Why not enhance the power of your B2B Open Banking by using them in conjunction with our B2B WhatsApp service?
The generated links can be sent as part of automated payment reminders directly to your customers, providing up-to-date account information that prompts them to make a payment. By tapping on the link, users will be taken directly to the payment page, allowing them to fill in their details and directly transfer money into your account. It couldn’t be easier!
Want to use B2B Open Banking in other ways?
B2B Open Banking can also be used in live depot environments as a preferred method of payment instead of cards or cash, with customers offered the chance to make immediate transactions at the till. Get in touch with us to find out more about how B2B Open Banking can support your business.