image the POSInterested in B2B payment processing methods? FLO Business Solutions is here to cover your options. Learn the ropes below!

What is “B2B” compared to “B2C”?

If you’ve heard of B2B, you’ve probably come across B2C as well. The question is: What sets them apart?

Answer:

B2C: “B2C” refers to business to consumer. This is the type of business that sells directly to individual consumers. Think small businesses on Etsy, for example, or big businesses that sell large quantities of product to large quantities of customers. While each approach has its pros and cons, when it comes to payment processing, conventional wisdom is that B2C is easier than B2B. At least on the business’s end.

B2B: “B2B” refers to business to business. Rather than selling to individuals, you’re selling to your fellow businesses. Often, this means selling larger orders. While this can be high reward, it also adds a bit of complication on the payment processing end. When selling business to business, you’re often trying to maintain longer-term relationships. You want repeat orders, and a part of that involves ensuring that payments are processing accurately and on time. Trust is key. As such, it’s crucial that you master B2B payment solutions.

What makes B2B payments different from B2C payments?

A few factors set B2B payments apart from B2C payments. Much like B2B is fundamentally different from B2C on a broader level, B2B payment processing has different needs.

Keep in mind that B2B marketplace payments tend to require more time. The amount of money involved can be a lot higher than it is with regards to individual consumers. This means the approval and settlement of the payment can take longer—days or even weeks. In short, you’re generally going to require more complex payment software for B2B than you would for B2C.

What is the B2B payment processing method?

There isn’t one type of business to business payment method. Rather, the marketplace offers a few different options to business owners. In fact, some B2B sellers prefer to offer their clients multiple options. Not only does this expand your potential client base—it can also help ensure repeat business. Of course, this means you’ll want to work with a vendor that can match your needs as well.

Some of your B2B payment options include:

  • Virtual business to business credit card processing
  • ACH payment processing
  • Digital wallets
  • Electronic checks (eChecks)
  • Wire transfers
  • Commercial credit cards
  • Paper checks

Needless to say, some of these options are more common than others. You don’t see quite as many B2B sellers accepting paper checks these days! But nonetheless, your operation is your operation, and it’s important to familiarize yourself with the pros and cons of multiple solutions.

How do B2B payment processing solutions work?

Commercial credit cards. One of the most popular B2B payment solutions, commercial credit cards, remain quite common. Although they come with processing fees, buyers fall back on them often, in part due to their familiarity and reliability. As a seller, however, you may run into a few drawbacks. Each credit card transaction costs the seller, which naturally adds up over time. Still, it’s difficult to decline credit card payments, simply because of their prevalence.

Want to accept business payments while cutting down on credit card fees? You have options. New technologies help reduce manual processes, creating a more automated system that increases cash flow. Rather than focusing on credit card payments, you and your team can focus on more high-level endeavors.

ACH (Automated Clearing House). Another common B2B payment processing method, ACH, allows you to process payments electronically. It’s quick, convenient, and affordable. Essentially, ACH connects businesses across the United States. It transfers funds from business to business, even when those businesses use different banks. It’s possible to utilize ACH transfers internationally, but intermediary verification can slow the process down.

Wire transfers. Although not as popular domestically, wire transfers do remain more common than ACH when it comes to international payments. We usually manage wire transfers through RTP, CHIPS, or Fedwire. The great thing about this method is that as soon as the money hits the target account, it’s available. However, its lack of security presents concerns for B2B sellers and buyers.

Frequently Asked Questions

Still have some questions about B2B payment processing? Luckily, we have some more answers!

How do virtual credit cards differ from commercial credit cards?

Functionally speaking, virtual credit cards don’t differ too much from their physical counterparts. You can place limits on how often they’re used and by who, and they tend to be very secure. They may come with similar expenses associated with physical B2B card processing. But similarly to physical cards, we can potentially cut these expenses with more recent technology.

What’s the difference between eChecks and paper checks?

Aside from the obvious differences—one is electronic, while the other is paper—eChecks tend to be faster. Plus, they’re less expensive to manage than paper checks. They offer all the conveniences of any digital payment methods, with fewer drawbacks than paper checks.

All that being said—B2B sellers use paper checks surprisingly often, more so than the average individual consumer. Why? We’re not quite sure. It could be simple habit, or a sense of comfort that comes with a physical payment. However, digital methods are easier, often less expensive, and generally more secure. As you process large payments and scale up your ecommerce business—while working with clients who may not be physically close to—you’ll have more options with digital methods.

What are the benefits of Level 2 and Level 3 processing?

Since there is more information about a transaction and thus additional transparency and security, Level 2 and Level 3 processing have a few additional benefits. These include:

  • Lower interchange fees
  • Easier tracking and verification
  • More data collection points
  • Better compliance
Give us a call to find out more about these benefits.

Which method is right for me?

That depends greatly on your business and your goals! Fortunately, FLO Business Solutions is here to help you find the perfect solution. Get in touch with us here or call (803)-887-7356. Let’s find the perfect B2B payment platform for you.

best sales jobsDo you feel trapped in your job and want a career change? Or, are you looking for new sales representative jobs that make you feel appreciated? Then, this blog is for you! Below, we discuss the best sales jobs we know of at FLO Business Solutions.

If you’ve never considered a job in the merchant services industry or a credit card processing business opportunity, you’ve been missing out. Luckily, FLO has some opportunities and information for you! Visit our careers page or call us at 803-887-7356 today!

Keep reading to learn more about sales jobs hiring near me.

Are You Ready for the Best Sales Jobs Available?

Has your sales career reached a crossroads and needs a boost? Did you answer Si! Oui! Yep! Yessir! Yes ma’am! Or, it is that time of the year again.

This is the season when so many professionals, especially sales professionals, are asking themselves …

  1. Is it time for a change?
  2. Am I valued, appreciated, and being treated right in my current role and organization?
  3. Does my current role and workplace allow me to meet my goals?
  4. Am I getting paid what I’m worth? Am I able to grow my income or am I capped?
  5. Heck… Do I work with people I like and respect, and do they like and respect me?
  6. Are my valued clients treated right and fairly?

So, is now the time to explore your alternatives? The answer is yes, why not!

After all, you know your value. Plus, let’s face it, if you don’t get excited about going to work every day and doing what you do, exploring options is worth your while.

FLO Business Solutions Culture Focuses on Appreciation and Purpose

How we define culture at FLO is simple.

  1. How does it feel to work here?
  2. How does it feel to be a client here?

So, why not find a new home, a new sales and business development role? Discover a place where you can get excited and truly enjoy the people you work with. Choose purpose driven work and a cause – and earn what you are worth in a sustainable and thriving industry.

Research continues to reveal that employees have a strong desire to feel appreciated in the workplace by their managers, owners, and even peers. At FLO, we place high value on relationships and doing what’s right by people, first, and always.

Why Might FLO Be the Right Workplace for You?

Outside of our excellent work culture, there are so many other reasons to work for us! Here are merely a few!

  • We care about your success and overall satisfaction.
  • Work/life balance is always a priority.
  • There are unsurpassed compensation plans to help employees build wealth.
  • No micro-management, ever.
  • Comprehensive benefits packages to keep you and your family healthy.
  • We reward employees and offer amazing incentives, like trips.
  • Build great relationships with your fellow co-workers and leaders at quarterly group outings.
  • Full training and development options are available.

What Jobs Do We Have at FLO Available?

Now that we’ve piqued your curiosity at FLO, you might be wondering what sales rep jobs are available. Don’t worry, we not only have jobs to help you build a successful sales career, we have some of the best sales jobs around. Moreover, there are two major career options at FLO:

  1. Merchant Services Jobs
  2. POS Sales Jobs

Keep reading to learn more about how to sell credit card processing, our highest paying jobs, and ultimately sales jobs hiring near me.

Merchant Services Jobs

The merchant services industry plays a crucial role in the economy by facilitating electronic payments for businesses. Here are several reasons why one might consider a career in this industry:

  1. Growing Demand: With the rise of e-commerce and digital payments, there is a consistent demand for merchant services. Businesses need reliable payment solutions to operate efficiently.
  2. Diverse Opportunities: The industry offers a variety of roles. These include sales and customer support to technical positions in payment processing and fraud prevention.
  3. Innovation and Technology: The sector is rapidly evolving with advancements in technology. These include mobile payments, contactless transactions, and blockchain. This creates opportunities for those interested in tech-driven solutions.
  4. Impact on Businesses: Working in merchant services allows you to directly impact businesses. For instance, help them streamline their payment processes. Thus, you improve their profitability and customer satisfaction.
  5. Potential for Growth: Many companies in this field promote from within. Consequently, this provides opportunities for career advancement. There are also opportunities to specialize in various niches, such as high-risk merchant accounts or international payment solutions.
  6. Networking: The industry offers chances to connect with other professionals, attend events, and build relationships. This can bolster your career.
  7. Compensation: Many roles within the merchant services industry offer competitive salaries and the potential for commission. Especially, this is true in sales positions.
  8. Flexibility: Some roles may offer remote work options, flexible hours, and the ability to work with a variety of businesses. This includes working with small startups to large corporations.

More Answers About Merchant Service Jobs

If you have specific interests or questions about the merchant services industry, feel free to ask FLO! Don’t wait to hear more about merchant services sales jobs and starting a profitable career selling merchant services. Visit our careers page to learn more or apply. Once we get your application, we can discuss a merchant services sales rep salary.

POS Systems Sales Jobs

A career in software development, particularly in point of sale (POS) systems, can be highly rewarding for several reasons:

  1. High Demand: The retail and hospitality industries continually seek innovative POS solutions to enhance customer experience and streamline operations. This creates a consistent demand for skilled professionals in software development and POS technology.
  2. Technological Advancements: With advancements in technology, working in POS software allows you to engage with cutting-edge innovations. Furthermore, this allows you to contribute to shaping the future of retail. New tech includes: cloud computing, mobile payments, and AI.
  3. Diverse Career Paths: The field offers various career opportunities. This includes software development, systems integration, user experience (UX) design, quality assurance, and project management. Moreover, this diversity allows professionals to find roles that match their skills and interests.
  4. Impact on Businesses: POS systems are critical for business operations. By developing effective software solutions, you can significantly impact a business’s efficiency, sales, and customer satisfaction.
  5. Problem Solving: Working in software and POS requires creative problem-solving skills. You’ll have the opportunity to tackle real-world challenges and develop solutions that improve business processes.
  6. Collaboration: The role often involves working with cross-functional teams. These include sales, marketing, and customer support. Subsequently, you foster collaboration and gain a broader understanding of business operations.
  7. Career Growth: With the rapid evolution of technology, there are ample opportunities for career advancement. Professionals can specialize in various areas. Or, they can move into leadership roles as they gain experience.
  8. Remote Work Opportunities: Many software development roles, including those in POS, offer flexible working arrangements. Notably, these include remote work options, which can enhance work-life balance.
  9. Competitive Salaries: Careers in software development typically offer competitive salaries. Plus, specialized knowledge in POS systems can lead to even higher earning potential.
  10. Continuous Learning: The tech industry is always evolving, requiring professionals to stay updated on the latest trends and technologies. This can be intellectually stimulating and rewarding.

More Answers About POS Sales System Jobs

To help you understand a little more about this position, consider some examples of POS systems you probably have seen in retail locations. Examples include Lightspeed, Toast, and Square. When you sign on with FLO, you’ll see how our POS system stands out from the crowd.

Overall, a career in software development and POS systems combines technology, business acumen, and the opportunity to make a tangible impact in various industries. If you have more specific questions or need further insights, feel free to ask FLO! We are happy to give you all the information you need to know more about selling payment processing.

Enter a Sales Career You Love at FLO Business Solutions!

Don’t wait any longer to find the best sales jobs and launch a fulfilling career where you enjoy work every day. Visit our career page to apply for one of our awesome merchant services or POS sales jobs! You can also call us at 803-887-7356 with any questions.

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