Last Updated: November 28, 2023


Rohit Rawat


Imagine this!

You are a business owner. You need to pay your suppliers for the goods they’ve delivered. Moreover, you are also trying to keep track of all the money coming in and going out. You’ve got invoices to send, payments to receive, and a never-ending pile of paperwork on your desk. On top of that, if you start writing checks every time you have to make a payment, it’s enough to make anyone’s head spin.

Challenges in B2B Payment

Trust us. We say this with experience!

One of our clients, SWiM Worldwide, faced the exact same problems. That’s why they asked us to build a cross-border B2B (Business to Business) payment gateway called SWiM Pay. As a result, the gateway not only streamlined their payment process but also opened up new markets for them to grow their business.

Similarly, you can also use a B2B payment gateway to make quick and secure electronic transfers. It’s like having your own personal financial wizard.

So in this blog, we are going to establish the importance of a B2B payment gateway and how you can make one too.

But first, let’s answer the most important question!

What is a B2B Payment Gateway?

B2B payments are the transactions that take place between two businesses. Just like you and I buy products from different shops, businesses also need to buy goods and services from other businesses to run properly.

So when one business pays another business for these products and services, it is called a B2B payment.

The amount of a B2B transaction is usually quite large. Therefore, businesses use invoices that contain the details of the payment and the services and act as the agreement between the businesses.

B2B Payment gateway

To make these transactions happen, there is a need for a bridge that will enable businesses to process the transactions efficiently and securely. 

A B2B payment gateway is that bridge! For example, PayPal is one of the most popular B2B payment gateways.

There are many benefits of a Business to Business payment gateway like generating invoices, data encryption, and much more. 

Let’s discuss them in more detail.

B2B Payment Gateway Advantages

B2B Payment Gateway Advantages

Customized Payment Experience

It is essential for the design of your product to be consistent and in line with your brand identity. When people look at it, they must easily identify it as your product.

Therefore, by building your own B2B payment gateway, you have complete control over the user interface, design, and overall B2B payment experience. You can modify it to align with your brand’s identity and provide a seamless, user-friendly interface for your customers.

Enhanced Security and Data Control

Trust is one of the most important factors in building a strong and loyal user base, especially when dealing with a product that uses sensitive user information. Having strong and robust security measures will help you build that trust.

You can integrate advanced encryption, fraud detection systems, and compliance protocols to ensure the security of sensitive payment information. This will provide peace of mind to both you and your customers.

Cost Savings

You might be wondering if building your own payment gateway can actually save costs.

And that is a valid thought!

But the answer is that it will help you save money.

While building your own Business to Business payment gateway requires an initial investment, it can lead to long-term cost savings. Instead of relying on third-party providers and paying transaction fees, you will have full control over the payment process and can eliminate or reduce additional costs.

Increased Flexibility and Scalability

Once your business grows and evolves, you would need to scale up your operations to accommodate more users and features. Building an indigenous payment gateway will allow you greater flexibility and scalability.

You can easily adapt and customize the gateway according to your needs, integrate it with other systems, and expand payment options.

Streamlined Integration with Business Processes

With a custom payment gateway, you can seamlessly integrate it into your existing business processes and systems. This enables automated reconciliation, synchronization with inventory management, and real-time reporting. This will save time and effort for your team.

Improved Customer Experience

With a personalized payment gateway, you can cater to your customer’s needs as you deem appropriate. You can offer multiple payment options, enable easy refunds or returns, and provide a smooth checkout process. All this will enhance the customer experience.

Moreover, this will build trust, increase customer satisfaction, and encourage repeat business.

Data Insights and Analytics

As we already know, data is the most important component for growing a business. More than that, it’s data that gives valuable insights into customer behavior, purchase patterns, and revenue trends. Building your own payment gateway can give you access to this goldmine of information.

This data can help you drive strategic decision-making and help optimize your business operations.

Competitive Advantage

If you want to stand out from your competitors, there needs to be a differentiating factor. Having your own B2B payment gateway could be it. It will differentiate you from your competitors who rely on third-party solutions.

It will showcase your commitment to security, customer satisfaction, and innovation, giving you an edge in the market.

How to Build a B2B Payment Gateway?

How to Build a B2B Payment Gateway?

Step 1: Define Your Goals and Objectives

What do you want to achieve with your B2B payment gateway?

Increased efficiency? Better cash flow? World domination?

Write down your goals and keep them in mind throughout the process.

Step 2: Research

Look at the existing Business to business payment gateways and analyze their strengths and weaknesses. This will help you avoid common pitfalls and identify opportunities for innovation.

Step 3: Choose the Right Technology

Select a payment gateway platform that aligns with your goals and offers the features you need. Whether you decide to build your gateway from scratch or use an existing solution, make sure it’s scalable and customizable to meet your future needs.

Step 4: Design and Develop

Create a user-friendly interface that makes it a breeze for businesses to send and receive B2B digital payments. Work closely with your development team to ensure seamless integration with your existing systems.

Step 5: Test and perform QA

You must make a point to not skip this step. Thoroughly test your B2B payment gateway to iron out any bugs or glitches. You don’t want your customers to have a “404 Payment Not Found” moment, do you?

Step 6: Launch and Optimize

Once your Business to Business payment gateway is up and running, keep a close eye on its performance. Collect feedback from your users and continuously optimize the gateway to ensure maximum efficiency.

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5 Tips to Optimize B2B Payment Gateway

5 Tips to Optimize B2B Payment Gateway

Congratulations, you’ve built your very own B2B payment gateway! But the journey doesn’t end here. Now it’s time to optimize, fine-tune, and make your gateway a force to be reckoned with.

Here are some tips to help you on your quest for payment gateway greatness.

Simplify the Payment Process

Remember, businesses are busy creatures. Make it as easy as possible for them to send and receive payments. Minimize the number of clicks, eliminate unnecessary steps, and streamline the entire process.

Provide Real-Time Notifications

Nobody likes to be kept in the dark, especially when it comes to money. Implement real-time notifications to keep your users updated on the status of their payments. They will appreciate the transparency and form a hardcore loyal user base.

Offer Analytics and Reporting

Knowledge is power. Provide your users with detailed analytics and reporting tools so they can gain insights into their payment activities. That will give them the option to better their financial future.

Embrace Automation

Remember, the whole point of a B2B payment gateway is to make your life easier. So embrace automation wherever possible. Automate recurring payments, set up payment reminders, and let the gateway do the heavy lifting for you.

Listen to Your Users

Your users are the heart and soul of your Business to Business payment gateway. Listen to their feedback, address their concerns, and continuously improve your gateway based on their needs. It’s like having your own personal focus group to make solid improvements to your gateway.

SWiM Pay: Case Study of a Successful B2B Payments Platform

We have discussed a lot of theories in the above sections. Now let’s take a look at the power of well-executed B2B payment solutions.

SWiM Worldwide, one of our clients, is revolutionizing and modernizing the global container shipping industry. However, they were facing challenges in settling a large number of transactions and keeping track of all the invoices and payment history.

Managing everything manually was taking a lot of time and resources.

Therefore, they decided it was time to build their own Business to Business payment gateway. So they approached us and that’s how SWiM Pay was born.

Successful B2B Payments Platform

Their own customized payment gateway will not only help them in streamlining their operations but will also allow them to add and modify its features and functionality.

For instance, they realized they can offer their payment gateway services to other industries too. Businesses can use their gateway as escrow since it already offers the security and privacy big businesses seek.

This opened up new opportunities for them and they expanded their business to other countries.

But with new countries come new currencies.

However, since their payment gateway was custom-made, we were able to add a new feature of currency exchange and payment gateway integration. This would give businesses the convenience to send and receive money in any currency they liked and through any B2B payment method.

Apart from expanding their business to new markets, they will also be able to increase their revenue since they will be able to charge a fee in percentage on all financial activities.

Building their own B2B payment gateway is going to be a win-win situation for our client.

Check out  the entire case study of SWiM Pay. We have discussed in detail the challenges we faced in making it and how we overcame them.

Digitize Your Payments Now With Your Custom Payment Gateway

As we come to the end of our blog, we hope this could prove to be a new beginning for you. It’s not much about what you make and how you make it, it’s about what your customers want and how you can help them.

If you feel building a custom B2B payment gateway is going to help your business and your customers, feel free to discuss it with us. We will be more than happy to guide you in the right direction and be your partner in your journey toward business success.

Frequently Asked Questions (FAQ)

See the answers to some of our most commonly asked questions below.

Yes, most B2B payment gateways offer integration capabilities with popular ERP and accounting software. That will allow you to seamlessly sync payment data and streamline financial operations.

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