The customer payment experience that conventional buy-now, pay-later (BNPL) finance offers may have become commonplace in the consumer world, but B2B payment processes have yet to catch up. Many tasks continue to be performed manually and approvals are often slow to materialize.
A number of BNPL providers have, therefore, decided to eschew the consumer market and target the corporate world instead.
In this scenario, the B2B BNPL provider offers virtually instant net terms to suppliers’ customers. The company using the service receives the full amount of the invoice less the fee levied by the service provider, who takes on responsibility for collecting payment.
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