Businesses Need Simple Online Purchasing, Too: Balance Makes That Happen
Balance is turning the three-month B2B purchasing window into a 20-second, one-click transaction.
We’d all feel very differently as consumers about e-commerce if it took a full 90 days to complete a simple online transaction. Today, we’re used to ordering something from Amazon, then getting a notification of the transaction from our bank seconds later. It’s not like that in the business-to-business world, where it can still take up to three months before a purchase between two companies results in money moving from the buyer to the seller.
It’s 2022. Transactions of any kind shouldn’t be like that. Thankfully, Balance has come up with an answer to that very problem.
The brainchild of a pair of former PayPal employees, Balance examined the entire B2B transaction chain, then removed all the hurdles that slowed it down. Rather than slogging through a weeks-long process of ordering, invoicing, shipments and payments through multiple methods, Balance streamlines the purchase for both the buyer and seller. Considering an estimated 40% of all B2B payments in the U.S. are still done by check, going digital with relative ease could finally move such transactions out of the physical world and into the e-commerce realm.
Buyers simply make their purchase through an embedded checkout on the seller’s website. With the same one-click simplicity of buying on Amazon or other consumer retailers, purchasers can choose their payment method (check, ACH, wire or credit card) then select delivery options and net payment terms.
Balance is also a massive boon for merchants, marketplaces and manufacturers. Rather than invoicing customers, then waiting for payments, sellers can qualify buyers for net 30+ payment terms and process payments entirely through Balance. Even if a buyer wants to pay off their purchase in installments or in one lump sum up to 90 days after the transaction, Balance can forward the seller their money immediately. Sellers can maintain cash flow and scale their transaction volume without adding unnecessary overhead.
Shrinking that payout window from an average of 7 to 10 days down to a blistering 20 seconds has many Balance users impressed.
“Balance ended our four year search for a payment experience that’s built for our needs as a marketplace,” said Bryzos CEO Shep Hickey.
Best of all, Balance only charges one simple processing fee so the firm takes an active interest in ensuring the long-term success of their customers. Interested readers can check out Balance by signing up for a free demo on its website to see how the solution can bring even the most unique payment flows into the modern age.
Prices and availability are subject to change.
on July 8, 2022, 8:13 AM PDT Businesses need simple online purchasing, too: Balance makes that happen Balance is turning the three-month B2B purchasing window into a 20-second, one-click transaction. We may be compensated by vendors who appear on this page through methods such as affiliate links or sponsored partnerships. This may influence how and…