US-based B2B ecommerce payment solutions provider Balance has announced the expansion of its global payment services for B2B marketplaces and merchants. Following this announcement, the company will provide its customers and traders with improved support for over 100 local currencies, as well as a suite of new features that were developed in order to streamline global payments for both B2B marketplace operators, as well as sellers.

Furthermore, Balance aims to deliver companies and customers the needed transaction framework for them to be able to make cross-border business transactions and payments in an efficient and secure manner. By using its products, merchants will have the possibility to benefit from a hassle-free payment experience. More information about Balance’s global payment solutions B2B sellers will also be enabled to use the platform of the company in order to disburse international payments to their suppliers and partners.

Balance aims to offer firms and clients the possibility to establish connected accounts for traders that span various countries around the world. In addition, it will also provide businesses with compliant fund management, as well as facilitate smooth and safe payout and withdrawal procedures. The process will take place within the same currency, which eliminates the need for other complex global money licenses.

Balance facilitates direct payouts to bank accounts and eligible debit accounts in over 100 currencies around the globe. Furthermore, the company incorporates worldwide automatic reconciliation capabilities, as its platform was developed under continuous improvement processes in order to meet the needs, preferences, and demands of the customers and the industry. It also aimed to match payments that are irrespective of the currency, which is set to give traders and merchants the possibility to access comprehensive visibility into the overall transaction lifecycle.

In order to provide businesses with a centralised command center, Balance aimed to develop its product with a user-friendly dashboard. This tool is set to offer a comprehensive overview of the payment activity and its status. Moreover, the real-time monitoring capability also ensures that the status of customers’ transactions is readily accessible and transparent, from the initiation of it to its completion.  Balance’s recent product launches In July 2023, the company introduced its new surcharge service in order to enable suppliers to implement a surcharge fee for credit card payments and transactions.

Following this launch, merchants were given the possibility to cater to their clients’ payment preferences while also boosting their profits. The product aimed to address the demand for credit card surcharging that was expressed by approximately two-thirds of businesses and merchants. This was set to allow more companies to handle larger credit card volumes without incurring any additional fees or costs.

The launch focused on promoting its widespread adoption in the B2B landscape but also improved the manner in which firms sustained a healthy development process by minimising the risk of losing clients that preferred credit card payments. .