C2B
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Consumer-to-business (C2B) is a business model in which consumers (individuals) create value and businesses consume that value. For example, when a consumer writes reviews or when a consumer gives a useful idea for new product development then that consumer is creating value for the business if the business adopts the input. In the C2B model, a reverse auction or demand collection model, enables buyers to name or demand their own price, which is often binding, for a specific good or service. Inside of a consumer to business market the roles involved in the transaction must be established and the consumer must offer something of value to the business.
Cross-border consumer-to-business (C2B) payments are transactions where an individual in one country pays a business in another country. These payments underpin global digital commerce by enabling consumers to purchase goods and services from international merchants. In emerging markets, support for local payment methods (LPMs) – such as domestic e-wallets, local card networks, bank transfers, and mobile money – is crucial. Many consumers in these regions do not have international credit cards or prefer familiar local payment options. As of 2024, over half of transactions in emerging economies are still cash-based and about 60% use payment methods other than credit cards.
Another form of C2B is the electronic commerce business model in which consumers can offer products and services to companies, and the companies pay the consumers. This business model is a complete reversal of the traditional business model in which companies offer goods and services to consumers (business-to-consumer = B2C). We can see the C2B model at work in blogs or internet forums in which the author offers a link back to an online business thereby facilitating the purchase of a product (like a book on Amazon.com), for which the author might receive affiliate revenues from a successful sale. Elance was the first C2B model e-commerce site. This makes LPM integration vital for reaching customers and facilitating financial inclusion in digital commerce.
Local payment methods provide a trusted and convenient way for consumers to pay online, often through mobile wallets, instant bank payments, or voucher systems. By offering LPMs at checkout, international businesses can improve user experience and conversion rates. Analysts note that tailoring to local preferences is essential – if global merchants fail to offer the payment options popular in a given country, they risk losing an entire segment of customers. Thus, cross-border C2B payment providers specialize in bridging global merchants to these local systems, ensuring consumers can pay in their preferred way while merchants receive funds seamlessly across borders.
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Yoka - 2021-02-15 00:00:00
Unleashed - 2020-09-04 00:00:00
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