B2B buyers prefer to pay as consumers pay
December 22, 2014 02:09 PM
Business-to-business buyers bring the expectations they have for consumer retail sites to the e-commerce sites they shop for the workplace, and that includes expectations about payment formats. Half of B2B buyers in a recent survey say they prefer to use a credit or debit card to pay for their business orders.
The survey of 930 B2B buyers in North America and Europe was conducted by Forrester Consulting and commissioned by Accenture, a consulting firm, and hybris Software, an e-commerce software firm. While 50% of B2B buyers prefer credit or debit payments, another 19% prefer to use online payment services like the PayPal escrow service to pay for B2B purchases. The more traditional B2B payment methods—purchase orders and invoices—were the preferred choice by 28% of buyers. 3% prefer to pay with e-procurement portal services like Ariba Inc. (Ariba is owned by SAP AG, which also owns hybris Software.)
The survey also found that almost half (49%) of the B2B buyers surveyed prefer to make work-related purchases on the same type of web sites they use for personal purchases. That would include sites like Amazon.com, which—with more than 95.5 million unique visitors a month in 2013, according to Top500guide.com and Compete Inc.—is the most-visited e-commerce site. Amazon.com Inc.’s B2B e-commerce site, AmazonSupply.com, accepts payment with most major credit cards, or business buyers can apply for credit. From November 2013 to November 2014, AmazonSupply.com drew an average of 74,124 unique visitors per month, according to Compete Inc.
Amazon is No. 1 in the Internet Retailer Top 500, which ranks companies by their annual web sales.
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