When a business needs to have a way for customers to exchange money electronically they need a secure online payment system. Companies that use an online payment system can bill customers and receive payments quickly and securely. B2b credit card processing and B2b payments can also be done securely through an online payment system. If you are an internet merchant you need one to use one of the available internet merchant accounts with one of the payment processing companies too. More and more people are shopping online today and using their credit cards to buy things. In fact, studies show that 6.7 percent of the people who bought something using their mobile devices made a purchase. The number of shoppers visiting a retail store online using a mobile device in 2011 was 12 percent . Retailers report twice as many sales in 2011, via the internet, than they reported in 2010. It is very important to have an online payment system.
These days more and more payment processing is cloud based. Using a payment processor’s integrated receivables management platform is highly advised. Online retailers will enjoy an accelerated time to market rate as well as better quality in transaction processing when an online payment system is used. Online payment systems are here to stay. ERP vendors, commercial banks, billing and collection providers are all a part of today’s B2B “financial supply chain.”