Hokodo and Balance to extend cross-border payment terms

Monday 23 October 2023 15:30 CET | News

UK-based B2B Buy Now, Pay Later (BNPL) solution provider Hokodo has partnered with US-based B2B payments platform Balance.

According to the official press release, the partnership seeks to establish a one-stop shop for payment terms so that global B2B companies can extend flexible payments to customers spanning Europe and North America. 

News of this development comes as merchants offer flexible payments to drive growth and attract more customers. According to Statista, the global BNPL transactions are anticipated to reach USD 450 billion between 2021 and 2026. The growth in the market comes after a previous surge between 2019 and 2021, when the payment method saw a 400% rise.

Even more to this point, according to a recent study conducted by Hokodo and Balance, the need for having a unified payment terms solution that extends across various regions is key – with 62% of B2B sellers that took part in the research underscoring the necessity of such a solution.


UK-based B2B Buy Now, Pay Later (BNPL) solution provider Hokodo has partnered with US-based B2B payments platform Balance.


What does the partnership entail?

The new financing solution will purportedly feature the following:

  • Adaptable payment terms – The new offering will reportedly provide buyers and sellers with access to flexible financing terms similar to B2C-like BNPL products.

  • Technology – By leveraging their technological capabilities, Hokodo and Balance’s new solution is said to ensure speed, compliance, and reliability in assessing buyer profiles.

  • Global accessibility – the new product will enable B2B businesses to provide payment terms to buyers in Europe and North America alike. This comes after research by Balance and Hokodo revealed that just 16% of B2B sellers find it ‘very easy’ to offer payment terms to B2B buyers in new countries.

  • An API-first approach – The partnership extends modular solutions that are customised to meet the needs of merchants and marketplaces. They are also suitable for integration with pre-existing platforms and software. 


Hokodo and Balance’s past developments

Hodoko is a B2B BNPL solution provider that enables merchants to offer credit terms to their business customers. 

Earlier in 2023, the company secured partnerships with BNP Paribas, Mangopay, and Fuse. What is more, the fintech revealed that it received a series B funding extension from Citi, which it intended to utilise for expansion into additional geographic areas.  

B2B payments platform Balance previously launched a surcharge solution to ease credit card burdens for merchants. Also in 2023, the company expanded its global payments services for B2B marketplaces and merchants. 

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: partnership, BNPL, cross-border payments, paytech, fintech, digital payments, B2B payments, payments
Categories: Payments & Commerce
Companies: Balance, Hokodo
Countries: World
This article is part of category

Payments & Commerce




Discover all the Company news on Balance and other articles related to Balance in The Paypers News, Reports, and insights on the payments and fintech industry: