Commerce

MSTS Launches New Service To Accelerate Global B2B Commerce

MSTS has launched Credit as a Service (CaaS), a suite of applications and services that enables companies to power global commerce.

The company has 40 years of experience providing payment and credit management solutions to manufacturing, transportation, retail and eCommerce companies. With the launch of CaaS, MSTS now offers its B2B clients a single, omnichannel solution that can enable them to increase sales, reduce A/R costs, lessen risk and boost the customer experience.

“There is no seamless, end-to-end payment and credit management solution for B2B companies, and trying to create a system internally is often cost prohibitive,” said Brandon Spear, President of MSTS. “With CaaS, we are transforming the way businesses facilitate and manage terms-based transactions. Buyers want to access a line of credit because it allows them to manage their cash flow. Meanwhile, sellers want to offer credit because it increases loyalty and drives a larger share of their customer’s wallet. We’re helping businesses grow by making purchases simple and easy.”

CaaS was developed to overcome common B2B obstacles when sending and receiving payments between countries, such as increased compliance scrutiny, complex regulations, local requirements, foreign exchange, language, and business culture. The service aims to provide a uniform, global system that navigates the complex patchwork of country-specific policies, languages, currencies and regulatory requirements.

Earlier this year, PYMNTS’ Karen Webster spoke with Spear about the challenges and opportunities tied to credit and payments in B2B eCommerce, which is three times the size of B2C.  He believes there is a link between the two, where B2C  is helping define B2B as companies want to bring the ease and simplicity of conducting transactions in the consumer world to B2B activities.

“There are some titanic forces driving the needs for sellers to have a closer relationship with their buyside customers,” said Spear. “It’s not simple [the complexity], but it’s a problem I think that people are focused on solving now and through the next couple of years.”

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NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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