B2B payments transactions — and ways for sellers and buyers to administer them — have come a good distance lately.
Two recent payment management systems, for Amazon Business and for the Spryker ecommerce platform, were each designed for expediting and automating the payment process, improving cashflow and increasing operating efficiency.
Amazon Business, in a brand new program designed to assist small businesses, is collaborating with B2B payments platform Melio to streamline how marketplace buyers and sellers manage invoices and payments.
Amazon Business and Melio launch invoice service
Amazon Business, the dedicated B2B ecommerce marketplace of Amazon.com Inc., and Melio announced recently the mixing of Melio’s payment platform with the Amazon Business Reconciliation API, a move that synchronizes Amazon Business invoices in a single payment processing system. The mixing enables firms that use the Amazon Business Pay By Invoice application to “pay all their Amazon Business invoices and every other bills with just a few clicks through Melio,” Melio says.
“The mixing with Amazon Business will enable small business owners to devote more time to running their business and fewer time paying their suppliers and contractors,” says Matan Bar, co-founder and CEO of Melio.
“I like that I can pull all of my invoices into one payment and pay them ,” Melio user Chris Love of Love Rental Properties Indiana says in a Melio press release. “Now, I can save time by making one batch payment, somewhat than paying invoice to invoice.”
Amazon Business, which launched in 2015, has said that it reached annualized gross sales of $35 billion in 2023. Industry analysts have said that a key a part of its growth strategy has been constructing sales with small businesses.
Spryker teams up with Stripe for payments
Spryker, an ecommerce technology platform designed for B2B ecommerce sites, enterprise marketplaces, and internet-of-things commerce, recently launched a brand new marketplace payment system along side payment technology and financial services company Stripe Inc.
Built on Stripe’s marketplace payment technology Stripe Connect, Spryker’s recent payment system was designed to robotically process payment transactions and disbursements for marketplace operators, merchants and buyers, the businesses say.
“This recent payment solution built on top of Stripe’s infrastructure not only makes it easier to onboard merchants and manage payouts, however it also accelerates the expansion of our customers’ businesses by removing the operational inefficiencies that usually decelerate marketplace operations,” says Manishi Singh, senior vp of the App Composition Platform, Cloud & Technology Partnerships at Spryker.
Spryker notes that the brand new payment system enables marketplaces to “process payouts and disbursements in real time,” replacing traditional methods under which marketplace owners might need to attend until the top of the month to gather and distribute funds.
Spryker adds that its Stripe payment system provides a unified payment system that covers 135 currencies across greater than 45 countries and over 100 payment methods.
Paul Demery is a Digital Commerce 360 contributing editor covering B2B digital commerce technology and strategy. [email protected].
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