Here at XYZ Co., we’re in the business of helping companies accept and make payments. And we’ve been in this business a long time, so we know what we’re talking about when it comes to payment processing solutions. Because of that, we decided to ask our team to put together an article that would help small businesses navigate all of the payment processing options out there, so they can find the one that’s right for their unique needs in 2022. Here’s what they found!
Industry Overview
Small businesses are able to operate from any location, and new technologies have made it easier than ever to have a global presence. With the proliferation of e-commerce and online retailing, small businesses need to be able to accept credit cards and other forms of digital payments so that customers can purchase their products with ease. Yet many small business owners are wary about opening up their personal financial information or getting hit with high fees. Fortunately, there are now B2B payment solutions that help merchants avoid these difficulties while maintaining a competitive edge over competitors who still rely on a cash only.
innovative payment solutions
- Visa Checkout – this payment option is great because you can skip entering billing and shipping information when shopping online, which is a big hassle.
- PayPal – this payment option is great because it accepts a lot of different types of currencies and has a very low fee structure, which makes accepting international payments easier.
- Square – this payment option is great because it’s an affordable way to take credit card payments on your phone or tablet; they also provide a free point-of-sale app to help keep track of sales and inventory levels, which makes managing your business much easier!
Benefits and opportunities
The ever-evolving world of technology is changing how businesses operate on a daily basis. This means that one day, you might find your business processing payments with an iPad. When it comes to payment processing, there are many different solutions to choose from; however, not all are created equal. To help you find the best B2B payment solution for your small business, take a look at these top seven options:
1) Automated Clearing House (ACH) transfers – ACH transfers enable companies without bank accounts to send and receive money electronically over long distances. ACH transfers can be used when a company needs to make regular payments or if they need to make lump sum or occasional payments that do not exceed $25,000 per day.
What to keep in mind
– In order to determine which payment solutions are best suited for your business, it is important to know what kind of payments you will be processing. – For example, if you plan on accepting credit and debit cards, then a merchant account would be necessary. – If you plan on accepting ACH transactions, then a gateway might be necessary. – If you plan on taking Bitcoin or other cryptocurrency payments, then a crypto wallet would be needed.
Takeaway
The payment solutions market is constantly changing with new technologies, products, and services coming out every year. We’ve taken a look at the biggest changes we can expect to see over the next few years and made a list of what we think is going to be some of the most popular B2B payment solutions in 2022.
1) Mobile Payments – mobile payments are expected to be some of the most popular B2M payment solutions in 2022 because they’re convenient and easy to use. Plus, all you need is your phone!
2) Contactless Payments – contactless payments are also expected to be one of the more popular B2M payment solutions because not only do they have increased security features but they’re also more convenient than other forms of digital payments.