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iwoca integrates its BNPL solution with WooCommerce

Thursday 24 November 2022 12:53 CET | News

UK-based online loan provider iwoca has integrated its B2B Buy Now, Pay Later (BNPL) solution iwocaPay with ecommerce software WooCommerce.

 

WooCommerce holds a 37% market share of ecommerce software platforms worldwide, the company says. iwocaPay’s new extension will provide tens of thousands of ecommerce businesses with the option to offer Buy Now, Pay Later to their business customers.

iwoca includes its B2B Buy Now, Pay Later (BNPL) solution iwocaPay with ecommerce software WooCommerce.

A new B2B BNPL solution for ecommerce

This announcement comes just after iwocaPay launched its brand new B2B BNPL API solution, and WooCommerce is one of the first companies it has connected with. The new solution allows businesses to embed iwocaPay into their ecommerce checkouts and makes iwocaPay one of the only UK-based B2B BNPL providers that is fully omni-channel, letting businesses offer B2B payment terms to their customers (whilst getting paid instantly themselves) anywhere they take payments, whether that’s in invoices, in person, or in their ecommerce checkout.

The global B2B ecommerce sector is expected to expand to over USD 33 trillion by 2030, and growth in this market is a key tailwind for B2B BNPL, a market currently worth USD 1 trillion. iwocaPay recently announced that it saw 250% growth in Pay Later transactions over the past 12 months.

iwoca aims for more plugin partners

The loan provider’s officials stated that they’re happy to be one of the only fully omni-channel B2B Buy Now, Pay Later providers in the UK, letting businesses offer payment terms in their invoice, their ecommerce checkouts, or anywhere they take payments. They’re delighted that WooCommerce users now have the option to include iwocaPay in their checkout, so they can offer business customers the extended payment terms they need, without carrying the credit or late payment risk.

iwoca’s representatives also said they welcome more companies to integrate with iwocaPay so that they can help both buying and selling businesses grow and manage cash flow with their digital B2B BNPL payment solution. Small business owners can add iwocaPay to their WooCommerce site by signing up to iwocaPay and installing it from their accounts.


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Keywords: BNPL, ecommerce, checkout optimisation , WooCommerce, instalment payments, API
Categories: Payments & Commerce
Companies: Iwoca, WooCommerce
Countries: World
This article is part of category

Payments & Commerce

Iwoca

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WooCommerce

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