Four wholesalers have signed up to b2b.store’s B2B Open Banking service, with Chapple & Jenkins, Chadd’s Foodsmiths, KC Foods and R&I Jones all now equipped to accept payment by direct bank transfer to settle account balances and invoices.
B2B Open Banking is said to offer a fast and convenient payment method, with transaction fees a fraction of those incurred when processing credit card and direct debit payments.
b2b.store chief executive Rob Mannion said: “Prices keep heading upwards for everyone currently and that’s really putting the squeeze on wholesalers who already contend with low margins,”
“B2B Open Banking provides a genuine cost saving on processing payments, which is a
welcome relief to so many businesses currently – and takes minimal set up to get a
wholesaler up and running,” he added.