Paypal or Manual Invoice Payment for B2B Payments
The PayPal B2B is a secure and trustable in the payment industry for B2B. When using PayPal for B2B payments, you can send a custom invoice to another business via email. They only have to click on the “Pay” button, and they can pay with their Paypal Balance, Linked Bank Account or Credit or Debit Card.
It’s easy to manage all your invoices with your PayPal account, and you can already schedule invoices. It is also possible to accept an installment payment.
When a buyer pays through credit or debit card, the seller’s charge is 2.9% and $ 0.30 per transaction. When the buyer pays with PayPal balance or linked bank account, there is no charge. You can also send and receive payments through mobile.
If you want more advanced from B2B payment features, then there is a monthly fee of $30 on the transaction fee. With this upgraded plan called PayPal Payments Pro, you can accept phone, mail and tax payment. You can also customize and host an online checkout experience for wholesale buyers.
Manual Invoice Payments
Almost all businesses have worked with manual invoices. B2B companies feel comfortable with it, and this is its biggest supporter. However, there is a greater probability of human error compared to PayPal in manual invoices.
Apart from this, your company will have to pay one of its employees to make an invoice, which can turn expensive and cost-effective. Then your business must wait for another business to receive invoices and send a payment, which may delay your payment to your company unless other business responds.
Which is better for B2B?
While some businesses might prefer to invoice manually, they can spend more time and money on your business than PayPal. However, Some companies prefer not to use PayPal. But the best option is to give your customers choices.
Your business should have a PayPal feature as an optional for B2B, but if some customers are uncomfortable and unknowledgeable for using PayPal, they will be invoiced manually. This will allow your company to become more efficient without excluding certain customers.