As time goes on, people become increasingly reliant on their mobile devices. As this blog has discussed in the past, eCommerce sales are transitioning from traditional desktop browsers to a mobile environment, even in the B2B sphere. Procurement specialists are using their smartphones and tablets to buy products over the internet.
But mobile commerce doesn't stop there. In fact, as companies continue to innovate the checkout process at brick-and-mortar locations, mobile phones are becoming a bigger part of that initiative. There are many retail locations that feature roaming checkout specialists instead of a traditional cashier setup - Apple being one of the most prominent. These professionals can swipe credit cards on small devices attached to their phones and tablets and process payments on their device's display screen.
Of course, this practice is typically associated with the B2C sector. However, according to a recent CIO.com article, that too is moving more into B2B payments territory.
"Not all merchants' customers are consumers," wrote Jennifer Schiff, the author of the article. "Business-to-business merchants are also a good fit for mPOS systems. For example, a supplier to retailers such as a food and beverage distributor or office supply distributor can take orders and have them paid on the spot from their customers. Because so many companies are using credit cards for all their purchases, it makes sense for their vendors to be able to offer the most convenient way for them to place and pay for orders."
Just because B2B vendors are implementing this payment solution, it doesn't mean they are impervious to the standards all vendors in this sector should follow. B2B payments must be processed in a way that accepts level 3 data with line item detail. This will allow vendors to save on processing fees, thus allowing them to experience the benefits of this innovation.