The business-to-consumer, or B2C, model is the more common case and most billingproviders cater to the thismodel. However, there have been many providers that have (unsuccessfully) offered recurring billing solutions for firms that sell to other firms (Business-to-Business or B2B). At first glance, payment professionals may think there wouldnt be any significant differences between B2B and B2C recurring payments. However, on deeper analysis there are indeed some major differences providers need to understand.
- Invoicing– For a B2C company, invoices for their customers can be optional but typically not required by the average consumer. However, for a B2B model, most larger companies expect to be invoiced. And if your customer base includes SMB as well as enterprise customers, then be prepared to offer both options.
- Payment Methods– Consumer based business can settle for credit/debit cards as the standard form of payment, with electronic funds transfer (ACH) from your bank as a second choice. Expecting a corporate entity to pay with a credit card? Read more