The Business to Business or B2B domain is perhaps the largest segment of the payments industry in absolute volume. At its core is the financial supply chain where buyers and suppliers perform an elaborate dance with sales orders, purchase orders, invoices, payments, and reconciliation. Payments are only a part of the financial supply chain. What makes B2B payments hard is remittance data — the party being paid needs to know who is paying them and what the payment is for. It’s not always obvious. There are partial payments, combined payments, companies that take discounts because they can. All of this makes the B2B domain one of the more challenging domains.
To understand the structure, flows, and unique payments requirements of B2B payments.