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Paperless Trail Could B2B e-payments replace traditional transactions?

By C.J. Prince

Opinions expressed by Entrepreneur contributors are their own.

If you're still using paper for your B2B payments, take alook at the hidden costs. According to a September 2000 study fromInternet quality measurement firm Gomez Inc. in Waltham,Massachusetts, receiving payments via the paper-based route coststhe average small business about $1,391 per month.
But small businesses can reduce labor by approximately 50 percentby moving the process to the Web and to e-mail, notes NaseemTuffaha, CEO of Bellevue, Washington-based CheckSpace, ane-payments service.

On the retail side, San Francisco-based online debit paymentprovider Achex allows online businesses to accept debit paymentsfrom consumers via the Web. And soon entrepreneurs will be able toregister their business checking accounts to pay for productswithout their credit cards.

C.J. Prince is a New York City writer who specializes inbusiness topics and the executive editor of Chief Executivemagazine.


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