BNPL attracts customers not only because you can spread out payments, but also because of the following benefits for B2B businesses:
- Familiar digital experience – 73% of buyers use digital channels, and B2B buyers are demanding better digital experiences. BNPL offerings that pre-qualify and onboard buyers online create a streamlined purchasing process, similar to consumer BNPL journeys.
- Seamless payment – A payment platform integrated with existing procure-to-pay systems reduces friction and simplifies the buying process.
- Favorable credit terms – Fully automated BNPL options can factor in complex B2B decision making and provide custom financing solutions.
Ultimately, a convenient purchasing process using BNPL can lead to higher conversions and more B2B sales. Key drivers of increased sales include:
- Increasing transaction volumes and average order value, often because of higher credit limits
- Access to global customers without added back-office processing
- Enhanced customer loyalty
