In the digital age, businesses are increasingly moving away from traditional payment methods such as checks and cash, and adopting electronic payment methods for B2B transactions. Electronic payments offer numerous advantages over traditional payment methods, making them an ideal choice for businesses looking to streamline their payment processes and improve cash flow. What are the benefits of electronic payments for B2B transactions? Faster payment processing Electronic payments are processed much faster than traditional payment methods. With electronic payments, the payment is transferred directly from the payer's bank account to the payee's account, eliminating the need for physical checks or cash. This significantly reduces payment processing time, allowing businesses to receive payments faster and improve cash flow. Increased convenience Electronic payments offer increased convenience for both the payer and the payee. With electronic payments, businesses can make and recei...
Amazon has introduced a new service called Amazon PayPhrase that lets you the customer use stored payment information without a credit card number. The customer will store the credit card number and shipping address on Amazon's servers. When they are ready to check out all they need to do is provide a pin number and phrase. Sounds like an interesting take on tokenized payments. It can be done in a similar manner by simply using a payment processor that accepts tokenized payments . It really isn't that difficult and will save you a ton of money when compared to Amazon's high processing fees.