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With B2B transactions increasingly occurring over digital platforms, buyer expectations on the rise, and open banking driving innovations in payments, there is a growing need for B2B platforms to offer a faster, more frictionless payments experience.
Of particular importance is the need to optimise bank transfers, which are the preferred payment method for businesses worldwide. However, as B2B platforms grow in popularity, it's also becoming critical to remove the burden of performing manual financial processes, which severely inhibit the ability of these platforms to scale.
B2B payments are managed through a patchwork of standalone solutions with proprietary integrations, individual logins, and account requirements. This patchwork of solutions harms the payments experience and makes the management of payments significantly more cumbersome.
For digital platforms to enable bank transfers, users get redirected to their online banking website, where they must log in and fill out a long-form with extensive payment details. The process is filled with friction, and conversion rates suffer as a result. The customer relationship is also put at risk as a crucial part of the customer experience (the checkout) is entrusted to a third party that knows nothing about the customer.
Once a payment gets made, an entirely new set of challenges arise. Platform CFOs and finance teams must conduct time-consuming and costly manual reconciliations and payouts. While manually processing payments may not be an issue for smaller platforms, it can end up preventing a platform from scaling its operations and become a nightmare for larger platforms with thousands of transactions to process.
UNIPaaS’ payment infrastructure is designed to support complex multi-vendor models. At its heart, the UNIPaaS Multi-Vendor-eWallet-System (MVWS) is a flexible eWallet infrastructure that uses open banking to deliver faster, more secure real-time payment experiences and increased operational efficiencies in payments management. Key capabilities for B2B digital platforms include:
Pay-in with multiple payment methods, including pay-by-bank - all embedded within the platform user journey and brand.
UNIPaaS combines multi-vendor orders from various payment methods into a single checkout experience that features bank transfers alongside credit cards and APMs.
The Multi-Vendor-eWallet-System (MVWS) provides platforms with real-time control and a comprehensive view of their entire payment operations on one centralised dashboard. With MVWS, CFOs, CTOs, and finance teams can manage balances and automate payment processes, including reconciliations and payouts, to optimise operations and support their business as it scales.
With UNIPaaS, B2B digital platforms can deliver instant global payouts to a bank, card, or digital wallet. Payouts can be automated and dynamically scheduled through API or the UNIPaaS system interface.
UNIPaaS is built on a flexible architecture to enable faster implementation of fintech products and services, payments (PaaS), banking (BaaS), and lending (LaaS) in one unified platform. With the ability to rapidly add financial services, digital platforms can generate additional revenue streams and grow their business.
Is your business looking to offer a better payment experience and generate new revenues from embedded finance?
UNIPaaS Financial Services Limited is regulated by the Financial Conduct Authority (FCA) as an Authorised Payment Institution (No. 929994). UNIPaaS is certified as PCI DSS service provider Level 1.
