Options for Smoothing and Securing B2B Payments - Image by Dan Nelson from Pixabay In a world where everything has become digitised, we are more prone to making most of our financial transactions online, even the bigger ones. Luckily, many businesses offer digital payment options to other companies, but since we are talking about large sums of money, these businesses need to ensure that those transactions flow smoothly.

The complexity of B2B payments

B2B payments can involve complex requirements and multiple departments communicating with each other. Each payment might need the preparation of several quotes and invoices. Furthermore, B2B payments usually feature large sums of money. However, many companies follow inefficient payment processes. Thus, reviewing the options for how to streamline B2B payments can improve external and internal company processes.

Organisations often create their own barriers and challenges when it comes to B2B payments. For instance, cash flow management and payment delays could interrupt procedures and significantly affect business goals. Another mentioned issue is the inability to calculate the direct and indirect costs.

Common strategies businesses should consider

Studies have shown that fintech plays an essential role in B2B payment growth. While some enterprise still relies on cheques, others are turning to fintech tools for a more innovative approach.

One method fintech companies have introduced for smoothing out the edges of B2B payments is virtual cards. These have been useful in payments between travel providers and intermediaries. The focus of this method is usually on businesses like airlines and hotels.

B2B marketplaces have improved the ways to connect companies.

Commercial cards have been introduced to provide customized and adapted services to different niche segments. These services include supplying accounting software integrated with the card to address the need of businesses.

In other cases, companies focus on designing alerts to track payment status efficiently. Such strategies usually involve push notifications, emails, or text messages.

Dynamic ID verification has also been integrated into P2P payments to verify parties. Chosen payment platforms should deal with this without needing any contribution from internal company teams. Also, studies have deemed virtual cards as one of the safest payment options when it comes to fraud.

Benefits of using a blockchain for B2B payments

Blockchain is a complex concept – there are many things you need to know about it to understand how it works fully. However, all you need to know about blockchains are their benefits, especially for B2B payments. Without further ado, let’s see what this technology has to offer.

Fast transactions

If you have used traditional banking transactions, you may know how time-consuming the process may be. You might have been in a situation where your money doesn’t go through for five business days. To save yourself the hassle, you can use a blockchain that will provide you with faster transactions.


When it comes to larger payments, you need to ensure they will be protected, primarily if they are online-based. That said, you can freely use a blockchain for your B2B payments since this technology uses encryption to keep your data safer from third parties.

The way this works is that this technology will take your data, scrambles it, and make it unreadable to third parties. No one can access your data and steal it if you use blockchains for your B2B payments. Moreover, once the payment is approved, there is no going back – these payments cannot be cancelled, thus protecting your company from fraudulent online behaviour.

Protecting data in this age of digital transformation

Digital transformation facilitates the tremendous increase in data companies generate. Thus, companies must evaluate how they store, use, and delete it. Many modern cybersecurity products focus on offering robust protection for customers’ and partners’ data.

However, users frequently question whether their data is kept safe and is not at risk of being stolen or breached. Therefore, you can see how many privacy-focused solutions take the lead. Both corporate teams and users download VPN services to protect themselves online. Payments can also use this additional protection, especially when people stumble upon fake websites. Thus, enabling a Virtual Private Network lets you encrypt internet traffic and minimize the risks of losing data.


Many people have started using digital banking as their primary payment option in a digitalized world. Many companies worldwide use digital transactions to transfer money to other companies. However, not all payment options are secure.

So, the innovative tools companies have access to can greatly uplift B2B Payments. For instance, they can significantly reduce administrative time. In other cases, the modern solution can mitigate data security risks. In the upcoming years, automation will likely play a more significant role in boosting payments.

AFPAs the certifying body in treasury and finance, the Association for Financial Professionals (AFP) established and administers the Certified Treasury Professional (CTP) and Certified Corporate Financial Planning and Analysis Professional (FPAC) credentials, setting the standard of excellence in the profession globally. AFP’s mission is to drive the future of finance and treasury and develop the leaders of tomorrow through certification, training, and the premier event for corporate treasury and finance.


Please enter your comment!
Please enter your name here