MIVA eCommerce Integration

MIVA eCommerce Integration

MIVA

How it works

Apruve connects you (the supplier) to banks and your customers. By connecting the dots between the supplier and the bank, Apruve is able to create a payment gateway that gives your customers net terms without the cash flow concern or financial risk.

Clients who wish to buy on terms simply use Apruve to facilitate the transaction. For Buyers, purchasing through Apruve means that they get to buy now and pay later.

For suppliers, any purchase financed through Apruve gets paid within 24 hours. Apruve handles all collections and is responsible for the financial risk.

Suppliers that use Apruve typically see higher order sizes, purchase frequency, and a drastically more streamlined approval process for new customers setting up terms.

Why extend Terms

Credit cards have typically been the primary form of payment for eCommerce, in the B2C arena.

Globally, more than 40% of B2B transactions are facilitated through net terms. If your business does not offer your customers the option to buy now and pay later, you may be seeing a higher cart abandonment.

Furthermore, those customers that do buy on terms have higher average order value (AOV) and purchase frequency.

3.3x Increase in line items per order for customers on account vs. credit card.  2.2x Increase in order frequency for customers on account vs. credit card.

Customer Experience

Apruve allows you to manage your client's credit terms without the added labor hours or tedious processes that typically take place. Customers will be able to choose the option to "pay with Apruve" at checkout.

This action prompts a module asking them to fill in their credentials. For returning customers, this is just a username and password. New customers will be instructed to create a new account by filling out a simple credit online application.

Once the application is complete, the new client will be notified of their credit limit and payment terms they are allowed to purchase against. Once they have this notification, they can go back to complete their order.

After an order is placed, buyers will receive a confirmation email regarding their purchase and periodic reminders to pay their current debts until a payment is made.

Customers can make electronic payments, view upcoming bills, see purchase history, and manage their purchasing teams from their corporate online portal.

Integrations