Wholesalers embrace open banking savings

In a bid to reduce the cost to do business, wholesalers are embracing new technologies such as open banking solutions

Highlighting this desire to make savings, b2b.store’s open banking solution has now hit more than 3,000 monthly transactions.

While for wholesalers there are savings to made, customers are also seeing the benefit as the payment method offers a choice of paying online, in depot, on delivery or out in the field as well as via sales reps and telesales staff.

b2b.store chief executive Rob Mannion said: “We know that businesses all work in different ways, so we work closely with wholesalers to figure out the most effective places for open banking to be used, and provide additional support to help with implementation and encourage their customers to regularly pay with open banking. That means we have to be constantly innovating and listening to customer feedback, which is reflected in the development of our product – and it’s clearly working because the number of transactions keep going up. Open banking is only going to become more commonly used in all industries in the future, so the time is now for wholesalers to get in on the party.”