Retailers around the world are losing sales to Amazon.com and other online marketplaces, and some are looking to replace lost business-to-consumer (B2C) revenue by expanding business-to-business (B2B) sales. MSTS, a credit and payment processor in transportation, manufacturing, retail and ecommerce, sees an opportunity in offering a turnkey credit as a service (CaaS) platform to increase B2B sales in 32 countries.
Retailers and other sellers accustomed to the payment card model face challenges when introducing credit underwriting, contract pricing, payment terms, collections and customer support to deal with new business clients. Caas offers everything they need to execute a full-service B2B commerce strategy, including support for cross-border sales and foreign exchange services.
Read the full article from The Nilson Report.
In the Press
Multi-Service Technology Solutions (MSTS) was founded in 1978 by a former trucking company owner who wanted to automate payments for trucking services.
Today's B2B customer is a digitally-savvy omnichannel connoisseur with high expectations of a B2C-like buying experience that still meets their more complex B2B needs.
Most businesses have a natural aversion to risk, experience resource constraints and often a need to cater to customers who use disparate merchant networks. This poses a tremendous challenge to scalability.
In today’s digital economy, most people think that sending money across borders is a seamless process.
For businesses looking to expand their ventures in global markets, cross-border payment frictions can vary from delivering international payments on time in the correct amount to delivering them in the recipient’s preferred currency.
No B2B transaction occurs in a vacuum. Buyers and suppliers must consider the history of their relationship, negotiated rates and payment terms, and the reputations of the companies working together.