B2B Companies Set to Disrupt Payments Tech Stack

B2B companies want a simple, secure, consumer-like digital payments experience, Greg Castro, president of PayTrace by North, writes in a new PYMNTS eBook, “Halftime 2025: Charting the Future of Payments.”

PayTrace recently celebrated 20 years in business. As part of North, we serve B2B companies, expanding the ways payments work for them. Mid-2025, we are excited to have grown from a payment gateway to a full-stack payment processor offering embedded ERP payment solutions.

Payments today are about consolidation and specialization — something we view through the lens of our B2B customers. They want to reduce the number of systems they use every day, and they need those systems to work together, seamlessly, without redundancy of effort.

That call for a simplified, do-it-all solution is guiding our teams for the remainder of this year — and for the next several years. We aim to be one secure payment solution that a B2B customer can use for simple payments, accounts receivable (AR) automation, accounts payable (AP) and more. And with our API-first approach, we enable our technology partners to do the same.

Disrupting the Way B2B Companies Do Business

Automation. Everyone wants to use technology to reduce manual processes and human error, no one more than B2B companies. These industries are rooted in outdated technologies and workflows. Many still see payments outstanding for an average of 45 to 60 days — sometimes longer.

They’re also still dealing with lengthy, intricate AR/AP processes that result in customers sending in what? A paper check. Time-consuming to process, clear, and settle — and risky due to human error, delays and fraud. B2B companies are desperate for accounting relief and giving their customers the simple, consumer-like experience that they expect from digital payments.

We launched Trace AR to help B2B companies send secure digital invoices, automate accounts receivable and simplify collections management. It provides a personalized portal that provides the power to track, manage and pay outstanding invoices via digital options like credit card and ACH. B2B customers get a consumer shopping experience while increasing their brand loyalty.

We offer differentiation for merchants looking to grow customer share, add recurring purchases. Our solutions provide options such as subscription-based pricing models or large purchases that require bespoke payment terms.

Facing — and Overcoming — Industry Hurdles

The payments space is always changing. From multiple card-brand upgrades to Visa’s new Commercial Enhanced Data Program (CEDP) affecting interchange rates, we need to be on top of what’s coming this year.

We are dedicating significant platform development resources, working closely with Visa to remain compliant. And we are committed to API-first innovation to create secure payment experiences that are both modern and innovative. Internally, we support our platform while leveraging the latest technologies on our back end, quickly developing and delivering upgrades and new features — and responding to compliance requirements.

Finishing Strong

This year will prove to be notable when it comes to business payments. The benefits of accepting multiple digital payment methods saves B2B firms money, increases their efficiency and accelerates their cash flow. While there will always be challenges to be met, we are confident that PayTrace has the forward thinking and solution-driven mindset to face them.