WHAT PAYMENT METHODS ARE ACCEPTED ON BRANABEE

If you’ve found yourself wondering “What payment methods are accepted on Branabee?” then you’re at the right place. Today we’ll go over that and more.

We use Authorize.Net as our payment processor. They are widely known, and you have likely shopped using them before, at places such as Amazon and others.

To keep things brief, here is a list of the methods that are accepted on Branabee:

Credit Cards:

• Visa
• Mastercard
• American Express
• Discover
• Diners
• JCB

eChecks –

Pay securely through the Authorize.Net payment gateway with your checking account. All personal info is encrypted.

eCheck (Electronic Check):

• Definition: An eCheck, or electronic check, is a digital version of a traditional paper check. It authorizes a transfer of funds from a bank account to another party through the Automated Clearing House (ACH) network.
• Process: Unlike a wire transfer, which involves direct bank-to-bank transfers, eChecks are processed through the ACH network, which is a system used for clearing electronic payments between banks and financial institutions in the United States.
• Speed: eChecks may take longer to process compared to wire transfers. They typically require a few business days to clear, although this can vary.
• Security: eChecks are considered secure and are subject to the same regulatory framework as traditional paper checks.
• Cost: eChecks are generally less expensive than wire transfers. Many banks and payment processors offer eChecks as a cost-effective alternative for domestic payments.

e-Check vs Wire Transfers – Key Differences:

• Speed and Timing: Wire transfers are generally faster than eChecks, which can take several days to clear.
• Network: Wire transfers operate on a different network (SWIFT network for international transfers), while eChecks use the ACH network in the United States.
• Cost: Wire transfers are usually more expensive due to higher fees, especially for international transfers, whereas eChecks tend to have lower transaction costs.

Purchase Orders

Great for business-to-business solutions. You might be wondering, why would we accept purchase orders?

Customers shopping on Branabee might want to buy something online with a purchase order for several reasons:

Convenience – Purchasing products or services online with a purchase order offers convenience as customers can place orders from the comfort of their own homes or offices. They can browse through a wide range of options, compare prices, and make purchases at any time that suits them.

Streamlined procurement process – Purchase orders provide a structured and organized approach to procurement. Businesses often require customers to submit purchase orders to ensure accurate record-keeping and to streamline the ordering process. By submitting a purchase order online, customers can ensure that their order is properly documented and processed without any confusion.

Financial management – Purchase orders allow customers to track and manage their expenses effectively. By using purchase orders, customers can keep a record of their purchases, monitor their spending, and reconcile their accounts. This can be particularly beneficial for businesses or organizations that need to manage budgets and track expenditures.

Approval and authorization – In certain cases, customers may require internal approval or authorization before making a purchase. Purchase orders serve as a formal request for goods or services, allowing customers time to obtain the necessary approvals from their organization or department.

On the other hand, sellers and businesses on Branabee may want to accept online purchase orders for the following reasons:

Efficient order management – Accepting purchase orders online enables businesses to automate their order management processes. It eliminates the need for manual entry of orders, reducing the chances of errors and streamlining the workflow. Online systems can automatically capture order details, update inventory, and generate invoices, saving time and improving overall efficiency.

Business-to-business (B2B) transactions – Purchase orders are commonly used in B2B transactions, where businesses buy from other businesses. Accepting online purchase orders allows companies to cater to their B2B customers’ needs, making it easier for them to place orders and establish ongoing business relationships.

Record keeping and accountability – Online purchase orders provide businesses with a digital record of each transaction. This record can be useful for auditing, tracking sales, managing inventory, and resolving any disputes or discrepancies that may arise. By accepting purchase orders online, businesses can maintain accurate records of their sales and purchases.

Compliance and documentation – Certain industries or government entities may require businesses to maintain proper documentation for regulatory compliance. Accepting purchase orders online helps businesses meet these requirements by providing a formal and standardized process for recording and tracking orders.