Mollie, in collaboration with Billie, lets several thousand European retailers accept payment by invoicing. Billie's B2B BNPL payment system is connected with Mollie and can be implemented with a few clicks in the Mollie Dashboard by online retailers and marketplaces.
Germany is the first market to go live as part of the pan-European collaboration. This implies that Billie's payment methods will be available to all of Mollie's merchants serving business clients in Germany. In 2023, the product portfolio will be expanded to include more key markets.
Billie, once active, allows business customers to purchase things without paying for them for 30 days. At the same time, Mollie's merchants selling the things get paid beforehand, making Billie's payment method a helpful complement to both merchants' and company purchasers' cash flow management. Billie provides purchasers with real-time credit approval at the checkout, with shopping cart limits of up to EUR 100,000, as well as default and fraud risk protection for businesses.
BNPL online payment options are critical for B2B ecommerce merchants, particularly those in the small and medium-sized business market. BNPL enables B2B merchants to provide more flexible payment options, enhance cash flow, speed up buying decisions, and reduce the risk of payment failures.
With the rise of ecommerce in B2B, there is a high demand for our digital BNPL solution, which provides the same flexibility as purchasing online. But, in B2B, the cash flow risk must occur somewhere along the supply chain. If it does not go to the buyer, it is placed on the market. If it does not appear on the marketplace, it is returned to the vendor. And if it ends up with the seller, you risk losing the supply side.
B2B sellers may use BNPL to give their clients flexible payment options while eliminating credit risk and the administrative complexity of commercial credit collection. Merchants can also handle the whole post-purchase cycle, from recording shipments to processing refunds, directly in the Mollie Dashboard or via their API, thanks to the Mollie connection.
Instead of consuming all capital upfront, financing solutions such as BNPL can help firms expand at a quicker rate and provide the financial capacity to make further enhancements. One of the reasons it got so famous in such a short period of time is because of this. Since the beginning of 2023 have suppliers of B2N BNPL payment methods formed alliances with various other technology providers or raised funds to further develop their own solutions.
Tranch, for example, secured USD 100 million in stock and debt in a seed fundraising round in January. Suppliers that provide the 'Pay with Tranch' option at checkout get paid in full up front, while clients can clear debts worth up to USD 500,000 in instalments ranging from two to twelve months, depending on whatever option fits them best.
Later, in February 2023, iwoca connected its B2B payment service iwocaPay with the accounting software package Quickbooks, making this invoice checkout integration available throughout the UK. According to industry studies, clients are 57% more likely to purchase when interest-free BNPL alternatives are available.
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