Given the trend towards card payments among consumers, with a recent survey finding that more than 80 percent of Australians prefer to pay by card, it may be surprising to learn that most businesses can’t easily accept card payments online from business customers.
As Kevin Butler, General Manager of Australian payments pioneers Zenith Payments, explained, the current process takes time and technical know-how that many businesses just don’t have.
“Traditionally, if a small or medium business wanted to accept online payments by card, they would firstly have to deal with their bank and discuss set up and going merchant fees. They would then need to source a payment gateway or build the technology and user interface themselves,” he explained.
Simplifying this process is B2Bpay, a secure online portal allowing businesses to both make and receive business expenses by credit card, launched by Zenith Payments in partnership with Qantas Business Rewards.
“With B2Bpay, small and medium businesses can accept card payments from their business customers online at no cost,” Butler explained.
“We have them set up and receiving payments within one day – they don’t need to have their own merchant service account with their bank, there are no merchant service fees to them and they don’t need to source a gateway or undertake IT work.”
Once set up, businesses simply follow their usual process to bill their customers, sending them a invoice which includes a link to pay by card via B2Bpay.
On the branded online payment page, a customer pay straight away 24 / 7. The funds will then be transferred to the biller by EFT or BPAY with no cost, training, merchant facilities, or changes to a biller’s banking arrangements required.
B2Bpay has helped change the way customers of Caringbah business Total Access Solutions pay.
“Believe it or not, we still had about five or six clients paying by cheque, which I’m baffled by!” admitted managing director Stuart White.
Credit card payments, meanwhile, were being taken manually, over the phone.
“It was quite difficult, time consuming, and frustrating for both our staff and our clients,” White said.
After hearing about B2Bpay from a friend, White quickly got the business set up with online payments, inserted a “pay now” link onto his xero invoice template and sent out an email to customers to let them know the service was available.
Around 20 percent of customers are now paying via B2Bpay, with more gravitating to the system every day, White said.
Businesses paying via B2Bpay earn Qantas Points in addition to the credit card reward points from their card issuer on all business expenses, even if card issuers categorise certain billers, such as the ATO or utility companies, as non-points earning.
Businesses can further encourage timely payments and customer loyalty by becoming a B2Bpay Bonus Biller and offering their customers up to three bonus Qantas Points for every $1.50 spent when they spend with them. This can be a real competitive edge as many business owners are known to chase the ever-popular reward of Qantas Points.
Given the rewards on offer, White is also making use of B2Bpay to pay Total Access Solutions’ bills. The points, he said, are a really good perk!
“My parents live in England, so my goal is to fly them both over to Australia on business or first class. We’ve only been using B2Bpay for about three or four months, and I’m already halfway there.”
You can learn more about how B2Bpay here.