Halfords taps Kriya's to support its B2B trade credit and payments

Tuesday 5 December 2023 14:52 CET | News

UK-based retail company Halfords has integrated tools from Kriya, an embedded finance provider, across its stores to power payments and credit for its trade account customers.


Under the partnership Kriya will embed its financial tools across Halfords stores, customer teams, and online to support multichannel payments and B2B trade credit.

Halfords has integrated tools from Kriya across its stores to power payments and credit for its trade account customers.

Halfords support over 250,000 small business and enterprise buyers in the motor trade. Through the Halfords Trade Card, the company provides its members exclusive deals on tools and spare parts. They also offer wholesale purchasing for Councils, Schools, and Universities, and supply the popular Cycle2Work scheme for businesses.

Flexible payments for business customers

Mechanics and tradespeople are typically paid after their end jobs are complete, putting a strain on working capital if parts need to be sourced in advance. By working with Kriya’s PayLater solution, Halfords is helping their Trade Card holders and Business customers better manage their cash flow with the ability to purchase on flexible payment terms.

Halfords sought an innovative, seamless solution for their buyers’ increasing multi-channel purchasing habits. Trade Card members will now benefit from being able to use embedded trade credit provided by Kriya wherever they prefer to order, whether online, click-and-collect or in store.

Automating financial operations

Working with Kriya also brings new efficiencies to Halfords. Much of their existing trade credit processes will be automated, improving the speed and quality of the customer experience they deliver. By using Kriya, Halfords can now service new types of business customers and manage much larger volumes of credit purchases.

Officials from Halfords said that being able to offer flexible payment terms to their B2B customers underpins their market offering. They want to invest in modernising the checkout process to attract more customers and drive loyalty in their customer base. They’re happy to work with Kriya to digitise and provide flexible payment terms to a much wider range of trade customers.

Also commenting on this collaboration, Kriya’s representatives said that B2B commerce is changing. Trade buyers now expect consumer-level sophistication, credit, and payment options. Forward-looking merchants like Halfords are now evaluating their current processes and realising how much opportunity they have to increase revenue, buyer loyalty, and streamline financial friction.

What does Kriya do?

Kriya is a fintech platform that keeps business flowing brilliantly by providing frictionless access to B2B payments and credit through seamless integrations and instant credit decisions.

Founded in 2011 and now operating in the UK, Ireland, Spain, the Netherlands, and Belgium, Kriya has helped businesses collect over GBP 26 billion in B2B payments, and advanced over GBP 3.4 billion worth of credit to suppliers and buyers.

Kriya has a wide-reaching network of strategic distribution partners including Barclays Bank, and is backed by a prestigious array of equity investors including Northzone, Barclays Bank, and Mouro Capital (owned by Santander Bank).

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Keywords: B2B payments, online payments, cash flow, embedded finance, partnership
Categories: Payments & Commerce
Companies: Halfords, Kriya
Countries: United Kingdom
This article is part of category

Payments & Commerce




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