B2B payments
Payments between businesses, such as paying suppliers' invoices or settling with partners, made by ACH, wire, check, card or instant payment.
What B2B payments are
B2B (business-to-business) payments are payments from one business to another, for goods, services, rent or financing. Many are tied to invoices with terms, such as net 30, and need remittance details so the payee can match them to open bills. Common rails include ACH, wires, checks and commercial cards.
How it works
The buyer approves an invoice, schedules payment and sends it with remittance data. Rails differ in speed and cost. Domestic wires settle in real time on business days. ACH settles the same day or in one to two business days, and instant payments in seconds, around the clock.
- 01 · INVOICE The supplier sends an invoice with amount, due date and payment details.
- 02 · APPROVE The buyer matches it to the order, approves it and schedules payment.
- 03 · PAY Payment goes out by ACH, wire, card or instant payment, with remittance data.
When businesses use it
- Paying suppliers, contractors and service providers
- Collecting from business customers through invoices or payment requests
- Moving funds between a company's subsidiaries or bank accounts
- Paying overseas vendors by international wire
Cross River's multi-rail, API-based bank core supports B2B commercial payments over RTP, FedNow, ACH and wires through a single integration, with unlimited subledgers. See bank rails at Cross River.