International Business & Economy B2B Payment Services – Will They Help You To Grow Your Business?

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

However, with B2B payment services transitioning online, there are now increasing options and alternatives for businesses to choose and utilise.

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

However, with B2B payment services transitioning online, there are now increasing options and alternatives for businesses to choose and utilise. Especially in Singapore, where tech is progressing rapidly, companies and businesses should also follow the trend and hop on these easy, convenient and intuitive B2B payment services to aid your transaction processes, whilst getting to enjoy multitudes of perks and benefits.

What Value Can B2B Payment Services Bring To Your Business?

image of glass building

B2B payment services and platforms are popular amongst SMEs and small businesses in Singapore for value-adding to many firms and companies. If you are a SME in Singapore, you may be able to benefit greatly from some of these payment services which could help you to access a world of perks and benefits, all at low costs.

1) Enjoy Great Savings

picture 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 routes of wiring money transfers via banks and more, which typically cost much more.

Depending on the B2B payment service chosen, you could save a great deal of money from the fees that are usually associated with and charged alongside corporate credit cards. These fees include:

  • Annual Fees
  • Foreign Exchange Transaction Fees (FX fees)
  • Transfer Fees

2) Earn Amazing Cashback & Rewards

exchange of card

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

This helps your company maximise its profits while lowering costs, rendering these financial payment services very useful indeed for businesses here.

3) Ease of International Transactions

picture of the earth at night from orbit

For businesses to expand outside of Singapore and to grow their startups to greater heights, international transactions are getting more and more common and prevalent. However, one issue that many startups face would be the expensive FX fees and slightly more complicated procedures that accompany international payment transfers.

However, with B2B payment apps and services, payment is all done online with one click. Additionally, many B2B payment platforms offer no or low FX transaction fees for foreign transactions, helping businesses to maximise value from these platforms.

4) Seamless Access and Convenience

2 workers posing for a picture

Besides the perks that you can enjoy financially, many of these B2B payment services also provide great convenience to users and businesses who desire 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 cutting edge feature, you would be able to sync transaction information and keep track of all these accounting data for analysis and audit.

B2B Payment Apps in Singapore

B2B Payment Apps In Singapore

If you are a small business in Singapore looking out 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 have just embarked on your startup journey, perhaps some SME loans may be applicable to you as well.

Below, we have some of our top picks of financial services catered towards SMEs and businesses in Singapore, offering a wide myriad of perks and benefits, all at affordable and valuable prices.

Airwallex

Airwallex
  • Annual Fee:
  • Stand-Out: Boosted cashback for 1st month
For businesses looking out for accounts to help them manage their expenses seamlessly, Airwallex is the choice for you. With S$0 monthly and setup fees, this is a highly accessible card that is suitable for SMEs and businesses in Singapore. Transacting internationally is also fuss-free, with 0% international transaction fee.

There is also no need to worry about payment security, as any payment transfers are made fully secure, with PC1 level 1 compliance, so that you would never have to be concerned over losing your money to fraudulent activities. Airwallex helps you put your money in a secured ring-fenced account, with accessible funds and procedures that are based on the highest international standards.

With Airwallex, a one-stop solution for businesses, you can also get unlimited rewards and cashback with no minimum transaction volume. Other perks you can enjoy include Sync expense into Xero, Payment Link For Easy Payments & Integrated into online platforms like Amazon, eBay, Shopify and PayPal.

For a limited time promotion until 30 September 2022, eligible customers will be eligible to receive a cash rebate 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 Fee:
  • Stand-Out: Boosted cashback for 1st month
For businesses looking out for accounts to help them manage their expenses seamlessly, Airwallex is the choice for you. With S$0 monthly and setup fees, this is a highly accessible card that is suitable for SMEs and businesses in Singapore. Transacting internationally is also fuss-free, with 0% international transaction fee.

There is also no need to worry about payment security, as any payment transfers are made fully secure, with PC1 level 1 compliance, so that you would never have to be concerned over losing your money to fraudulent activities. Airwallex helps you put your money in a secured ring-fenced account, with accessible funds and procedures that are based on the highest international standards.

With Airwallex, a one-stop solution for businesses, you can also get unlimited rewards and cashback with no minimum transaction volume. Other perks you can enjoy include Sync expense into Xero, Payment Link For Easy Payments & Integrated into online platforms like Amazon, eBay, Shopify and PayPal.

YouBiz

YouBiz
  • Annual Fee:
  • Stand-Out: Boosted cashback for 1st month
The YouBiz Corporate Card is another corporate card suitable for businesses, 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 at all. Enjoy unlimited cashback without FX fees on any spend and transaction! Incorporating various features such as multi-currency accounts, local and international transfers, corporate expense management, seamless bill payments and other credit features, the YouBiz card is indeed a great one-stop corporate card.

YouBiz
  • Annual Fee:
  • Stand-Out: Boosted cashback for 1st month
The YouBiz Corporate Card is another corporate card suitable for businesses, 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 at all. Enjoy unlimited cashback without FX fees on any spend and transaction! Incorporating various features such as multi-currency accounts, local and international transfers, corporate expense management, seamless bill payments and other credit features, the YouBiz card is indeed a great one-stop corporate card.

Volopay

Volopay
  • Annual Fee:
  • Stand-Out: Boosted cashback for 1st month
Volopay is a money transfer service catered towards businesses, offering seamless business financial transaction services such as competitive money transfer and credit card packages.

For transfers above S$10,000, Volopay offers the cheapest rates, as well as 2% cashback when using the Volopay credit card. Bill payment is also made easy as they are automated, and there are no minimum or maximum transaction limits which could hinder your business flow.

Volopay
  • Annual Fee:
  • Stand-Out: Boosted cashback for 1st month
Volopay is a money transfer service catered towards businesses, offering seamless business financial transaction services such as competitive money transfer and credit card packages.

For transfers above S$10,000, Volopay offers the cheapest rates, as well as 2% cashback when using the Volopay credit card. Bill payment is also made easy as they are automated, and there are no minimum or maximum transaction limits which could hinder your business flow.

Conclusion

B2B payment services are now gaining popularity and traction amongst firms in Singapore, and you should start using them too. Unlock features like added security, low costs and fees, seamless convenience and enjoy impressive rewards with these B2B platforms, to bring your business further today!

The article Title of This Page originally appeared on ValueChampion.

ValueChampion helps you find the most relevant information to optimise your personal finances. Like us on our Facebook page to keep up to date with our latest news and articles.

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Best Credit Card for Businesses 2022

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