google-site-verification=wFTO6NGSiI0l-ojNSn5RdV_AJgdJgb-SuGSD5oZ_dYg B2B Payment Network | conextnow.com

b2b Payment 

network

what is a b2b payment network?

A B2B Payment Network is exactly what it sounds like - it's a network (similar to Venmo or Zelle) that facilitates payments between businesses. Currently, the most popular way to digitally transfer funds is through an ACH service which takes about 2-3 days to clear. 

is venmo a b2b payment network?

When you think of payment networks, you most likely will think of Venmo or Zelle. These, however, are P2P, or peer-to-peer, payment services. Services like these make it easy and fast to transfer money between individuals, but they do little to service the business sector.

How are b2b & p2p payments different?

Dollar amounts

The average person isn’t going to be transferring tens of thousands of dollars to a friend in a single day. Businesses, though, have an average transaction value of $7,500. B2B networks feature higher transfer limits to accommodate corporate expenses and those funds are approved quickly for almost immediate availability.

Payment documentation

Since P2P transfers are between individuals, there usually is little-to-no documentation of that transaction. In B2B however, there are POs, invoices, payment approvals, and receipts to issue for each and every transaction. This creates an average 45-day-gap between invoice-sent & payment-received. B2B networks must be equally thorough with set procedures and step-by-step verifications to guarantee each party is well-documented and on the same page.

PAYMENT SECURITY

Data security is a top concern now that technology has evolved so intensely. 2018 saw over 4.5 billion records compromised through data breaches within a six-month window. Despite that information, the funds on P2P Networks are not FDIC insured.

 

Businesses are at higher risk with fraudulent activity because of the dollar values at stake. A good B2B payment network knows that and pulls out all the stops with multi-step verifications, data encryption, fraud detection, monitoring etc.

CONEXT® B2B PAYMENT NETWORK ALLOWS FREE TRANSFERS UP TO 50K IN ONE DAY. 

Get started today.

interested in b2b payments?

Try the CONEXT® B2B Payment Network. The CONEXT® Mobile app – available for iOS & android - allows you to transfer up to 50k in one day to other CONEXT® Cardholders. Transfers are at no extra cost and occur in real-time. The process is secure and easy, and your funds are, of course, FDIC insured. 

 

Want more info? Call us at 1-855-674-7787 to learn how CONEXT® is the right business solution for you. 

Ready to Sign-Up? Click here!

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PRIVACY POLICY

*Checks loaded are subject to approval when submitted via CONEXT® Mobile Load. Restrictions and rules apply. See Terms and Conditions for details. CONEXT® Mobile Load not currently available in New York.

 

The CONEXT® Mobile Load is available only to CONEXT® Customers. The CONEXT® program is managed and serviced by Mercury Service Group, LLC (“Mercury”); and the CONEXT® Mobile Load app is serviced by Wausau Financial Systems, Inc. Sunrise Banks N.A., St Paul, MN 55103 is not affiliated with this service. See Terms and Conditions for details about restrictions and details.

 

The CONEXT® Visa® Prepaid Card is issued by Sunrise Banks N.A., St. Paul, MN 55103, Member FDIC, pursuant to a license from Visa U.S.A. Inc. This card can be used everywhere Visa debit cards are accepted. Use of this card constitutes acceptance of the terms and conditions stated in the Cardholder Agreement. For domestic use only. This card is distributed and serviced by Mercury Service Group, LLC. For New York Residents: Mercury Service Group, LLC is licensed as a Money Transmitter by the New York State Department of Financial Services. 

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