Which B2C Bank is the Best for Online Payments Worldwide?12 min read

Which B2C Bank is the Best for Online Payments Worldwide?12 min read

The B2C bank that you select is very important when you’re making international online payments. With e-commerce and digital businesses spreading across the world, more businesses than ever are in need of banking solutions for multi-currency payment. 

This blog reviews the best B2C banking accounts for online payments on a global scale and decides which is the best.

What is B2C Banking for Online Payments?

B2C banking is banking for businesses that are used for their consumer or customer activities. When it comes to online payments, B2C banking lets merchants and online sellers accept payments from any place on the globe.

The old practice was that corporations opened bank accounts in each of the countries where they conducted business to accept local currency. But now, digital B2C banks have made it possible for merchants to collect worldwide payments from a single account.

Most prominent B2C banks offer multi-currency wallets, payment collection in major currencies like USD, EUR, GBP and automated exchange. This enables online sellers to accept funds from overseas buyers without keeping bank accounts overseas.

Added functions such as payments links, invoicing tools, and integration with Shopify, WooCommerce, and Magento make payments easier for merchants. Superior reports and reconciliations allow businesses to also track sales and payment patterns across territories.

B2C banking is designed to enable cross-border e-commerce by eliminating geographic payment obstacles. Sellers can focus on expanding their worldwide customer base rather than complicating cross-border banking.

Which B2C Banks are Best for International Online Payments?

Although many large and medium sized banks now support B2C payments, very few can process global payments in a scaled manner. The Kingdom Bank has been the most trusted source for secure and affordable online payments all around the globe. Here’s why:

• Multi-currency accounts: The Kingdom Bank offers digital euro, US dollar and pound sterling wallets as one account. Sellers can be paid in these major currencies without the need to convert the currency.
• Worldwide payment support: The Kingdom Bank has direct banking relationships around the globe. It accepts payments from all major online payment systems in every country, even those with a local payment preference.
• Fair exchange rates: The Kingdom Bank charges interbank foreign exchange rates at a small spread for automatic currency conversion between wallet balances. This assures merchants competitive conversion rates.
• Security controlled: Being a licensed bank by the European regulators, The Kingdom Bank adheres to strict data protection and security policies. Invested funds held with this provider are also protected by deposit insurance.
• Smooth integrations: The Kingdom Bank integrates seamlessly with leading e-commerce websites and payment gateways. Plug-and-play integrations allow retailers to start accepting online payments within days.
• Excellent merchant support: The bank’s payment expert team is available through live chat and telephone 24/7 across the globe. We provide multilingual support for any payment issues.

The Kingdom Bank is your number one choice when it comes to secure, trusted and cost-effective global B2C banking & online payment collection services. The all-in-one multi-currency account allows for convenient international payment.

Do B2C Banks Support Multi-Currency Accounts for Online Payments?

Multi-currency is an essential feature for B2C banks designed for cross-border e-commerce, but not all providers provide it. High Street banks typically only provide domestic and major currencies (USD/EUR) with dedicated accounts.

But innovative digital-only banks have identified multi-currency acceptance as a requisite for today’s global business. Banks that offer high-end multi-currency wallets in one account, such as The Kingdom Bank, are the top B2C banks.

Businesses that open The Kingdom Bank’s multi-currency account receive several advantages:

• You don’t have to create accounts for different currencies – all currencies are integrated in one place.
• Interbank currency exchange between wallet balances in real time eliminates conversion costs.
• Free payment collection in USD, EUR, GBP in all major currencies with no extra fees or minimum deposits.
• Premium reports bring sales and payment insights across currencies into one dashboard.
• Full compliance with regulatory Know Your Customer (KYC) and Anti-Money Laundering (AML) processes.

Though not all B2C banks support multi-currency, digital-centric providers know that it is an industry standard for today’s global merchants. The Kingdom Bank is unique in offering a multi-currency wallet that provides robust features for e-commerce and payments in the cross-border arena.

What are the Best Digital Banks for Online Payments?

In providing online payments for companies across the globe, branch-based payment platforms cannot keep up with changing merchant requirements any longer. 

The true innovators have been the digital-first B2C banks that architect payment systems for the online world from scratch.

The key features of the top digital B2C banks for cross-border e-commerce are:

• Currency exchange accounts with automated currency exchange for multi-currency business accounts.
• Very low/no foreign exchange charge for payment conversions of any kind.
• Payments can be made in real-time, so funds are available quickly.
• Secure payment and PCI DSS security.
• Easy platform integrations for single-click payments
• Streamlined payment analytics and reconciliation capabilities.
• Support for merchants through phone, email and live chat.

The Kingdom Bank is the most recommended digital B2C bank in the industry. In addition to fulfilling all the above conditions, it is different because it provides:

• Multi-currency wallet for seamless payments and payment control.
• International bank partnerships for best-in-class payment coverage
• Licensed by European governments for more security protection.
• Multilingual assistance is available by payments professionals 24/7.

By streamlining global e-commerce, The Kingdom Bank centralizes payments, currencies, and banking in a single digital ecosystem. It defines the future of frictionless B2C banking and online payments around the world.

What Factors Should I Consider When Choosing a B2C Bank for Online Payments?

In this era of ever-expanding B2C banks, it is difficult to decide which provider to choose. When retailers want to make an informed decision, they need to take into consideration things such as:

• Payment coverage – Test the bank’s presence in key markets across the world. Check accepted methods.
• Currency support – Critical to support business currency needs with multi-currency functionality.
• Pricing– Analyze all exchange, deposit, and transaction charges to reduce overall cost.
• Security compliance– Implement secure data protections such as SSL and fraud prevention.
• Integrations with platforms– Enable direct integrations with current e-commerce systems.
• Analytics and reports – Comprehensive sales and payment reporting streamlines the operations.
• Support quality – Assess response times and channels (phone, email, live chat).

Out of all B2C banks, The Kingdom Bank is distinguished by its:

• Unmatched global payment coverage through worldwide online channels.
• Multi-currency wallet for single payment integration.
• Low exchange rates with no currency conversion fee.
• Easy platform integrations and powerful analytics.
• You can access multilingual phone and live chat support 24 hours a day, 7 days a week.

By simplifying business banking and payments requirements, The Kingdom Bank frees merchants to focus on growth. 

It offers the full B2C banking solution needed to scale a global e-commerce business by enabling secure online payments across the globe.

Selecting the right digital B2C bank such as The Kingdom Bank that can accommodate all these needs creates a solid foundation for seamless international sales. Shops can securely process payments online from any place.