Human beings surely tend to excel in many different areas, and yet there still remains very little that we do better than growing on a consistent basis. This progressive approach, on our part, has already got the world to hit upon some huge milestones, with technology appearing as a major member of the stated group. The reason why technology enjoys such an esteemed stature among people is, by and large, predicated upon its skill-set, which ushered us towards a reality that nobody could have ever imagined otherwise. Nevertheless, if we look up close for a second, it will become clear how the whole runner was also very much inspired by the way we applied those skills across a real world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence, and consequentially, kickstarted a tech revolution. Of course, this revolution then went on to scale up the human experience through some outright unique avenues, but even after achieving such a monumental feat, technology will somehow continue to produce the right goods. The same has grown increasingly evident over the recent past, and assuming one new fintech-themed development shakes out just like we envision, it will only make that trend bigger and better moving forward.
Balance, the preferred B2B payment platform for leading businesses, has officially launched a new surcharge solution, which is designed to help B2B suppliers preserve their profit in the face of growing credit card transactions. You see, with the B2B space so heavily reliant upon credit purchases, the merchants are often forced into bearing a processing fee whenever a customer decides to use credit card to initiate payment, a fee that would unsurprisingly trim down a meaningful chunk of their margins. This cost of offering credit is a big reason why, during one particular survey, almost two-third of the merchants expressed a need for surcharging. Fortunately, Balance’s latest brainchild addresses that need quite well. However, the stated solution’s benefits aren’t just restricted to enhancing the financial feasibility of a merchant’s individual transactions, but it can also generate for them a better overall growth posture by basically eliminating the risk of losing those customers who view credit cards as their preferred payment mode.
“Merchants need to operate in a favorable payment environment, where the cost of accepting online payments does not outweigh their value,” said Nir Gazit, VP of Product at Balance. “Balance’s surcharging program enables B2B merchants to effectively meet the needs of customers that want to pay with credit card while ensuring appropriate operating margins for their business.”
Another detail worth a mention about the product in question is how it lets you customize the core offering so to make it more suitable for each and every customer segment, and guess what, you can do it all with just a simple click of a button. In case the whole value proposition still doesn’t look attractive enough to you, then it might be worth acknowledging that Balance’s surcharging functionality can also be integrated directly into the invoice and checkout process, therefore keeping the user experience optimally seamless throughout the necessary steps.
“Businesses are hindered in their growth by paper-driven processes, inflexible payment costs, and missed sales opportunities,” said Bar Geron, CEO and co-founder of Balance. “Our commitment lies in overcoming these obstacles through B2B-first payment technology that actively encourages the adoption of online payments.”
Founded in 2020, Balance’s rise to prominence has arrived on the back of its successful track record in modernizing the B2B landscape. While the company’s comprehensive end-to-end solutions can get you to easily launch cutting-edge payment capabilities, they can also digitize your entire financial back office. This is notably achieved without the costs and complications that B2B merchants have been working around for all these years.
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