B2B Payment Services – Will They Help You Grow Your Business?

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Business-to-business (B2B) payment services have been around for a while, helping businesses conduct fast and secure transactions with each other, such as making payments to suppliers and distributors.

However, with the transition of B2B payment services online, there are now more and more options and alternatives that businesses can choose from and use. Especially in Singapore, where technology is advancing rapidly, companies and businesses should also follow the trend and jump on these simple, convenient and intuitive B2B payment services to ease your transaction processes, while enjoying a host of benefits. and benefits.

What value can B2B payment services bring to your business?

B2B payment services and platforms are popular among SMEs and small businesses in Singapore to bring value to many companies and businesses. If you are an SME in Singapore, you may be able to benefit greatly from some of these payment services that could help you access a world of perks and benefits, all at low cost.

1) Enjoy great savings

photo of 3 people in a meeting

With the introduction of these B2B payment services and platforms in Singapore, businesses no longer have to go through the traditional channels of money transfer through banks and more which usually cost much more.

Depending on the B2B payment service you choose, you could save a lot of money on the fees typically associated with and charged with corporate credit cards. These fees include:

  • Annual fees
  • Foreign exchange transaction fees (exchange fees)
  • Transfer fee

2) Earn amazing cash back and rewards

card exchange

Some of the best B2B payment services available, such as Airwallex, also offer high refund rates to help your business earn money as you spend. Moreover, the cashback is unlimited and you will be able to earn 1% cashback on all transactions.

This helps your business maximize profits while reducing costs, making these financial payment services very useful for businesses here.

3) Ease of international transactions

image of earth at night from orbit

For businesses to expand outside of Singapore and grow their startups, international transactions are becoming more common and widespread. However, one problem that many startups face would be the high exchange fees and slightly more complicated procedures that come with international payment transfers.

However, with B2B payment apps and services, payment is done online with a single click. Additionally, many B2B payment platforms offer no or low FX transaction fees for foreign transactions, helping businesses maximize the value of these platforms.

4) Seamless Access and Convenience

2 workers posing for a photo

Along with the benefits you can enjoy financially, many of these B2B payment services also provide great convenience for users and businesses that want seamless networks and access.

Unlike many traditional corporate cards, many B2B payment services offer accounting automation, such as integration with custom software such as Xero, Quickbooks, and Netsuite. With this state-of-the-art feature, you will be able to synchronize transaction information and track all this accounting data for analysis and auditing purposes.

B2B payment apps in Singapore

B2B payment apps in Singapore

If you’re a small business in Singapore looking for some of the best B2B payment apps to streamline your payment transactions and operations, look no further. Check out the best SME credit cards for small businesses in Singapore for some of the best payment methods and alternatives. If you’re just embarking on your startup adventure, perhaps some small business loans might apply to you as well.

Below, we’ve got some of our top financial service picks for SMEs and businesses in Singapore, offering a host of benefits and perks, all at affordable and valuable prices.

Airwallex

Airwallex
  • Annual fees:
  • Stand out: Boosted cashback for the 1st month
For businesses looking for accounts to help them manage their expenses seamlessly, Airwallex is the choice for you. With a monthly and setup fee of S$0, this is a very affordable card suitable for SMEs and businesses in Singapore. International transactions are also hassle-free, with 0% international transaction fees.

There’s no need to worry about payment security either, as all payment transfers are completely secure, with PC1 Level 1 compliance, so you never have to worry about losing your money due to fraudulent activities. Airwallex helps you place your money in a secure account, with accessible funds and procedures based on the highest international standards.

With Airwallex, a unique solution for businesses, you can also get unlimited rewards and cashback with no minimum transaction volume. Other benefits you can enjoy include expense synchronization in Xero, payment link for easy payments, and integration into online platforms like Amazon, eBay, Shopify, and PayPal.

For a limited-time promotion through September 30, 2022, eligible customers will be eligible to receive cashback equal to one percent of all eligible domestic and international transactions made using the Airwallex card during the promotion period. So sign up for Airwallex before the promotion ends!

Airwallex
  • Annual fees:
  • Stand out: Boosted cashback for the 1st month
For businesses looking for accounts to help them manage their expenses seamlessly, Airwallex is the choice for you. With a monthly and setup fee of S$0, this is a very affordable card suitable for SMEs and businesses in Singapore. International transactions are also hassle-free, with 0% international transaction fees.

There’s no need to worry about payment security either, as all payment transfers are completely secure, with PC1 Level 1 compliance, so you never have to worry about losing your money due to fraudulent activities. Airwallex helps you place your money in a secure account, with accessible funds and procedures based on the highest international standards.

With Airwallex, a unique solution for businesses, you can also get unlimited rewards and cashback with no minimum transaction volume. Other benefits you can enjoy include expense synchronization in Xero, payment link for easy payments, and integration into online platforms like Amazon, eBay, Shopify, and PayPal.

YouBiz

YouBiz
  • Annual fees:
  • Stand out: Boosted cashback for the 1st month
The YouBiz Company Card is another business-friendly company card, to help you take your business to greater heights.

With YouBiz, you will be able to expand your business globally, without any hidden cross-border fees. Enjoy unlimited cashback with no exchange fees on all expenses and transactions! Incorporating various features such as multi-currency accounts, local and international transfers, business expense management, transparent bill payments and other credit features, the YouBiz Card is indeed a great one-stop business card. unique.

YouBiz
  • Annual fees:
  • Stand out: Boosted cashback for the 1st month
The YouBiz Company Card is another business-friendly company card, to help you take your business to greater heights.

With YouBiz, you will be able to expand your business globally, without any hidden cross-border fees. Enjoy unlimited cashback with no exchange fees on all expenses and transactions! Incorporating various features such as multi-currency accounts, local and international transfers, business expense management, transparent bill payments and other credit features, the YouBiz Card is indeed a great one-stop business card. unique.

Volopay

Volopay
  • Annual fees:
  • Stand out: Boosted cashback for the 1st month
Volopay is a money transfer service for businesses, offering seamless commercial financial transaction services such as competitive money transfers and credit card packages.

For transfers over S$10,000, Volopay offers the cheapest rates, as well as 2% cashback when using the Volopay credit card. Paying bills is also simplified as it is automated and there are no minimum or maximum transaction limits that could hinder the flow of your activities.

Volopay
  • Annual fees:
  • Stand out: Boosted cashback for the 1st month
Volopay is a money transfer service for businesses, offering seamless commercial financial transaction services such as competitive money transfers and credit card packages.

For transfers over S$10,000, Volopay offers the cheapest rates, as well as 2% cashback when using the Volopay credit card. Paying bills is also simplified as it is automated and there are no minimum or maximum transaction limits that could hinder the flow of your activities.

Conclusion

B2B payment services are growing in popularity and popularity among businesses in Singapore, and you should start using them too. Unlock features like increased security, low costs and fees, seamless convenience, and enjoy awesome rewards with these B2B platforms, to drive your business forward today!

The title of the article on this page was originally published on ValueChampion.

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About Matthew R. Dailey

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