Business merchant payment processing: Solutions to receive payments faster

This post was originally published in Dec 2024 and was updated in May 2025 with additional information on choosing the right payment acceptance solution, future trends in payment acceptance, and more.

Traditional merchant payment processing approaches no longer meet the demands of modern business transactions. Payment processing services have evolved from simple transaction handling to solutions that streamline entire accounts receivable operations. At Billtrust, we've developed an AI-powered platform that transforms how businesses manage merchant payment processes, putting them back in control while maintaining exceptional customer service.

Understanding modern payment processing services

Modern merchant payment processing work extends beyond basic transaction handling. It encompasses the entire payment lifecycle, from invoice presentation to cash application, creating a seamless flow that accelerates your cash cycle while reducing operational costs. Our approach rebalances the accounts receivable/accounts payable dynamic, enabling your business to accept payments on your terms while accommodating your customers' preferences.

Core capabilities that drive efficiency

In today's merchant payment landscape, capabilities matter more than ever. Financial leaders need solutions to handle diverse payment methods while maintaining control. Our suite of payment processing features puts you back in control of your receivables while giving your customers the flexibility they demand.

• Multiple payment channel support: Today's merchant payment processing work demands flexibility in payment acceptance. Our payment processing services support various methods, including ACH, credit cards, wires, and email payments. This multi-channel approach ensures your customers can pay through their preferred method while your team manages everything from a unified platform.
• Straight-through processing: Our straight-through cash application processing capabilities eliminate manual intervention, automatically handling transactions from initiation to settlement. This approach reduces processing time and minimizes errors, creating a more productive payment ecosystem.
• Advanced credit card processing: We offer sophisticated Level 2 and Level 3 credit card information processing capabilities, enabling businesses to qualify for lower interchange rates. As demonstrated by WORLDPAC, this optimization can deliver up to $170,000 in annual savings while accelerating payment times.
• Strategic surcharging options: Our platform includes surcharging capabilities, allowing businesses to offset credit card processing costs while maintaining compliance with card network rules and regulations. This feature helps control payment acceptance costs while providing payment flexibility to customers.

Read the report → Reimagining business payments: How digital lockboxes unlock AR efficiencies

The flexibility of your payment acceptance system can impact your cash flow and customer satisfaction. Selecting the right payment solution requires an understanding of your accounts receivable needs, the capabilities of different providers, and the financial implications. Here's how to approach the decision-making process:

Assessing your accounts receivable needs

Before exploring merchant payment acceptance options, evaluate your specific business requirements. Analyze how your customers prefer to pay, consider your invoice volume, the average transaction value, and whether you operate globally or locally. Understanding these factors will help you narrow down the type of payment acceptance solutions that align with your business model and customer expectations.

Identifying features and limitations of different solutions

Payment acceptance solutions come with different features and capabilities. Some might offer basic electronic payment processing, while others provide comprehensive accounts receivable automation. Examine processing speed, settlement times, and any limitations that could affect your cash flow, such as restrictions on payment methods or integration capabilities with your existing systems.

Evaluating security measures and compliance capabilities

Security and compliance are paramount when accepting electronic payments. Evaluate the security protocols implemented by potential providers and ask about PCI DSS compliance for credit card processing. Look for solutions that offer encryption, compliance certifications, secure payment portals, and other advanced security features to protect sensitive financial data. Cooper Electric saw significant improvements in their payment security after implementing Billtrust's payment acceptance solution, while also achieving a 671% increase in digital payments received from customers.

Understanding cost structure

The cost of implementing a payment acceptance solution is critical in your decision. Understand the fee structure, which could include transaction fees, implementation costs, and any additional charges for specific payment methods. Some providers offer straightforward pricing, while others might have more complex cost models based on volume or service level. Knowing these details will help you budget correctly and maximize your return on investment.

Benefits that impact your bottom line

Modern finance leaders need solutions that directly impact their organization's financial health and operational efficiency. Our merchant payment processing platform delivers measurable improvements across key financial metrics while strengthening customer relationships.

• Accelerated cash flow: By automating payment processes and providing multiple payment channels, businesses typically see significant reductions in days sales outstanding (DSO). Sunstate Equipment achieved 80% electronic payments in their first month after implementation, while WORLDPAC reduced their average DSO to just 27 days. This acceleration of cash flow improves working capital and provides more financial flexibility.
• Enhanced security and compliance: Our payment processing services incorporate advanced security measures and maintain compliance with industry standards. This approach to security is meant to protect sensitive payment data while meeting regulatory requirements.
• Improved customer experience: The platform provides a branded payment portal that enhances customer confidence and satisfaction. Customers like Sunstate Equipment now offer 24/7 self-service access for viewing and paying invoices. Self-service options and automated payment capabilities give customers the control they want while ensuring you receive payments faster.

Seamless integration capabilities

The success of any merchant payment processing work depends on how well it connects with your existing systems and workflows. Integration capabilities shouldn't just link systems—they should create new opportunities for automation. Our platform's connectivity goes beyond basic system integration to create a truly unified AR ecosystem.

• ERP system connectivity: Our payment processing services integrate with ERP systems, ensuring smooth data flow between your financial systems. This integration eliminates manual data entry and reduces reconciliation time.
• AP portal connectivity: The platform connects with hundreds of AP portals, automating invoice delivery and payment acceptance across your customer base. Cooper Electric automated the delivery of digital invoices to 71% of their customers, reducing complexity and accelerating payment processing.

Supporting your digital transformation

Digital transformation in accounts receivable isn't just about implementing new technology—it's about changing how your organization handles payments at a fundamental level. The transition from paper-based to digital processes requires expertise, strategy, and a partner who understands both the technical and human elements of change.

• Digital adoption expertise: Our team helps design and execute strategies and outreach campaigns to transition customers from paper to digital payments. We use proven approaches to encourage electronic payment adoption while maintaining strong customer relationships.
• Implementation and training: We provide implementation support and training services to ensure your team can maximize the value of our payment processing services. Sunstate Equipment completed their implementation in just 64 days, achieving a rapid transition with minimal disruption.

Read the ebook → Getting unstuck: Optimizing B2B payments processes

As technology evolves, so does B2B payment acceptance. Staying ahead of these trends can give your business a competitive edge and prepare you for changing payment modalities. Here are key developments that will impact how you receive payments from your customers:

Digital payment expansion

While paper checks still represent a portion of B2B payments, digital payment methods continue to gain traction. Businesses are increasingly offering and accepting payments through electronic channels, providing benefits such as faster settlement times and reduced processing costs compared to traditional methods. By expanding your digital payment acceptance capabilities, you can meet evolving customer expectations and accelerate your cash flow.

Artificial intelligence in accounts receivable

Artificial Intelligence (AI) is transforming how businesses manage their accounts receivable through advanced automation and improved accuracy. AI can help in matching payments to invoices more efficiently, identifying payment patterns, and predicting customer payment behaviors. Billtrust's AI-powered solutions demonstrate how machine learning dramatically improves cash application performance, with customers like Sunstate Equipment achieving over 90% average match rates without manual intervention.

Enhanced digital payment experiences

As B2B buyers increasingly expect consumer-like payment experiences, offering intuitive payment portals and flexible payment options becomes critical. Self-service payment platforms, mobile-friendly interfaces, and personalized payment experiences are becoming standard expectations. By providing convenient, secure ways for your customers to pay you, you can reduce friction in the payment process and receive funds faster while improving customer satisfaction.

Integrated receivables management

The future of payment acceptance lies in fully integrated solutions that connect all aspects of the order-to-cash cycle. These integrated platforms provide end-to-end visibility and control over customer payments, from invoice delivery to cash application and collections. This holistic approach eliminates silos between departments, reduces manual touchpoints, and provides valuable insights into your entire accounts receivable operation.

Industry-specific solutions

Every industry faces unique challenges in merchant payment processing services and accounts receivable management. What works for one sector may not meet the specific requirements of another. Our understanding of various industries allows us to deliver solutions that address sector-specific payment complexities and compliance requirements.

• Vertical market expertise: We understand sector-specific challenges and address your market needs, whether you're in manufacturing, heavy machinery, distribution, medical and life sciences, or professional services.
• Compliance and customization: Our platform supports industry-specific compliance requirements and offers customization options to match your business processes. This flexibility ensures that our payment processing services align with your operational needs while maintaining regulatory compliance.

Ready to transform your payment processing? Schedule a consultation with our team to learn how Billtrust can help automate your merchant payments services and accelerate cash flow while improving customer satisfaction.

As a leading provider of order-to-cash solutions, Billtrust has spent over two decades helping businesses of all sizes—from growing small businesses to global enterprises—grow revenue and increase profitability through innovative merchant payment processing services. Our AI-powered platform processes billions in payments annually, connecting thousands of suppliers and buyers through our extensive Business Payments Network. This network has helped companies like WORLDPAC automate $16 million in customer payments in just six months. We combine deep industry expertise with cutting-edge technology to help finance leaders control costs, accelerate cash flow, and improve customer satisfaction.

What sets us apart isn't just our technology—it's our unwavering commitment to customer success. We believe in listening actively to our customers' needs, and delivering solutions that drive real business value. Our teams work alongside yours to ensure your merchant payment processing services are implemented, adopted and optimized properly. This collaborative approach enabled Sunstate Equipment to achieve an impressive 90% match rate for various payment types. Whether you're looking to streamline existing payment operations or undertake a complete digital transformation, we provide the expertise, technology, and support to help you achieve your financial objectives faster.