Shopify, the leading ecommerce platform, has introduced a new feature for business-to-business (B2B) buyers that allows them to vault their credit cards and reuse them for purchases at checkout. This new feature provides B2B buyers with flexibility and convenience, allowing them to pay for orders at checkout and be charged at a later date when payment is due, without the need to manually enter their credit card information each time.
Credit card vaulting is a secure and efficient payment method that provides peace of mind to both buyers and merchants. By storing credit card information at the company location level, B2B buyers can easily manage their vaulted cards on their customer account and view or delete them at any time. Similarly, merchants can also view and delete vaulted credit cards and charge them through admin, providing more control and visibility over their transactions.
With B2B Vaulting Payments, Shopify is making it easier for businesses to complete orders and make payments without buyer interaction. This new feature streamlines the payment process, allowing for faster and more efficient transactions. Additionally, merchants can notify B2B buyers to update their vaulted credit card information through their account, ensuring that payment information is always up-to-date.
B2B Vaulting Payments is a valuable addition to Shopify’s suite of features for ecommerce businesses. With its focus on security, convenience, and efficiency, this new feature is sure to benefit both B2B buyers and merchants.
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