Payments – ByRival.com

Collect payments quickly and easily

Through ByRival you can easily collect payments from your clients in 17 countries. Whether you’re using an automated software program or send invoices manually by email, the invoice amount can be collected through ByRival. To collect the payments, ByRival uses CM.com, a fully integrated and licensed global Payment Service Provider.

Our system makes it very easy to receive payments through European B2B Direct Debit (SEPA B2B) and Credit card. Your personal ByRival dashboard shows a clear overview of all transactions. Make payments easy for your clients and yourself and simply optimize your payment process.

SUPPLIER
BUYER

Payment process for Suppliers

You sell your products to a number of buyers worldwide. You want to collect your payments easily and on the exact date as agreed with your buyer. This can simply be done by using ByRival. ByRival will collect the payments on your behalf from your buyer and send you the outpayment within 7 days after successful collection.

1. Supplier registers at ByRival.com

Create a Supplier account at ByRival and verify your email address by clicking on the activation link send to your email address. Follow the steps in the ByRival Dashboard:

Your account will be checked and activated by ByRival within a few hours.
Register with CM.com (see Step 2).
If you want to connect ByRival to your software package, you can create an API token.

2. Supplier registers at Payment Service Provider (PSP) CM.com

After creating your account, you need to click the ‘Register with CM.com’ button. CM.com is a fully licensed PSP, contracted by ByRival to facilitate the SEPA Direct Debit B2B transactions. Every supplier needs to go through a simple KYC process at CM.com to make sure we comply with all regulations.

3. CM.com collects the payment from the Buyer through SEPA Direct Debit B2B

Once the account is activated by ByRival, you can start with collecting payments from your clients (buyers) through ByRival.

4. PSP arranges outpayment to Supplier

After a successful SEPA collection, the payment will be received in your bank account within 7 working days after the collection date. The transaction fees will be invoiced and automatically collected by the end of the month.

5. Become a Buyer as well

You can always become a buyer yourself so your suppliers can collect money from you through ByRival as well.

Payment process for Buyers

You buy products from your suppliers and you want to give them authorization to collect the payments for the invoices through ByRival, to make the financial settlement easier for both of you. You will always have a clear overview of the (to be) collected amounts and it doesn’t cost you anything.

1. Buyer registers at ByRival.com

Create a Buyer account at ByRival and verify your email address by clicking on the activation link send to your email address. Follow the steps in the ByRival Dashboard:

Your account will be checked and activated by ByRival within a few hours.
Setup SEPA Payments: enter your IBAN bank details and fill in the SEPA B2B mandate form. Download the mandate form, sign it and send it to your bank in order to give CM.com a continuous SEPA Direct Debit B2B authorization, for the ByRival account.
Register with CM.com (see Step 2).
If you want to connect ByRival to your software package, you can create an API token.

2. Buyer registers at Payment Service Provider (PSP) CM.com

After creating your account, you need to click the ‘Register with CM.com’ button. CM.com is a fully licensed PSP, contracted by ByRival to facilitate the SEPA Direct Debit B2B transactions. Every buyer needs to register at CM.com.

3. CM.com collects the payment from your bank account through SEPA Direct Debit B2B

Once the account is activated by ByRival, your suppliers can start with collecting payments from your bank account through ByRival.

4. Become a Supplier as well

You can also register as a supplier yourself and collect money from your clients through ByRival.

Suppliers
Buyers

Advantages of ByRival	Suppliers	Buyers
Advantages of ByRival	Advantages of ByRival
Collect in 17 countries Easily collect payments from your clients in 17 European countries.
Low costs ByRival offers competitive prices.
Collect quickly Receive your payments fast and according the agreed payment date, against low costs. You are not dependent on when your client pays.
Insured transactions ByRival includes a credit insurance on your transactions. You will always have a complete overview of your insured clients and the insured amounts. Of course not every client can be insured.
Free of cost Your supplier pays the transaction fees, so ByRival will be free of cost for buyers.
Automatic payments Buyers don't have to send payments themselves anymore as it will be automatically collected from their bank account. Suppliers don't have to go after their money anymore.
Unrivaled data and insight Transparent view of your payments data. Always have a complete overview of the amounts coming in and going out.
Reliable Payments are collected by Payment Service Provider CM.com. A well-known public company that complies with all safety rules and technologies for a secure online payment system.
Expand to new markets Knowing that your invoices are insured (if a credit limit is issued to the buyer) and the fact that you will quickly receive your payment, could be a reason to explore new markets and find new clients.
Connect with new suppliers With a buyer account at ByRival, you can easily do business with suppliers that use ByRival.

Ready to get started?

If you are convinced that ByRival will be useful for your company, you can easily register here. Do you have any questions or doubts? Just contact us so we can schedule a (virtual) appointment.