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FAQ

How Does Buy Now Pay Later Work for B2B Companies?

Buy Now, Pay Later (BNPL) offers a convenient and accessible purchase experience financed through installment payments, encouraging increased B2B conversions to sales. 

How does Buy Now, Pay Later work?

Buy now, pay later is a point-of-sale loan that allows buyers to pay off purchases in equal installments. With BNPL, you receive the item upfront and spread out payments based on a schedule. If you don’t pay on time, you may be subject to fees and interest charges.

While BNPL has been popular for B2C transactions, BNPL for B2B transactions has been growing because 20% of B2B buyers see a lack of alternative payment options as a critical purchasing issue.

 

How does BNPL benefit B2B businesses?

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

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