Buy now pay later is a short-term credit service that is already very popular in the B2C sector. But the advantages of this solution are also numerous for the B2B segment, even if the offer is not as wide. To address this shortcoming, Opyn enters the market with Opyn Pay Later. Find out how the world of installment payments works for companies.
Buy now pay later (BNPL) is a short-term credit service that allows online and offline sellers to offer their customers payment in installments for their purchases.
This system is already widely used in the B2C world, but there iran telegram lead is a market with enormous potential to be exploited: the B2B market.
According to various studies, this report is worth 2.5 times more than that of consumers.
However, few companies have yet structured an offer capable of responding to the needs of the corporate market.
Opyn, which aims to fill this gap, launched Opyn Pay Later in November 2022, the innovative buy now pay later service aimed specifically at the B2B world. Opyn thus combines its technological and credit expertise to help companies that want to offer their customers a new way of paying in installments.
B2B market vs B2C market
There are many differences between B2B and B2C markets: fewer buyers but higher spending volumes , long-term relationships often based on trust, rational purchasing decisions rather than based on emotion . Some examples of B2B markets are: manufacturing, import-export, consulting, professional services.
In recent years, just like B2C transactions, business-to-business transactions have also moved online. In fact, data shows that B2B e-commerce is one of the fastest-growing sales models. According to Statista , the value of business-to-business e-commerce in Europe will reach more than $1.8 trillion by 2025.
And it is precisely online where the concept of Buy Now Pay Later makes its full sense, although it also represents an opportunity in offline negotiations, to offer a fast payment method in installments, as an alternative or complement to the classic deferred payment systems between companies. In this way, buyers have access to a frictionless payment experience, while sellers can increase conversion rates by 40% and the average basket size by up to 60%.
How does Buy now pay later work in the B2B world?
Own perché si tratta di due segmenti distinti con behaviorali di acquisto e dynamiche transattive diverse, adattare i servizi Buy now pay later al mercato B2B richiede delle rielaborazioni. Nonostante ciò, il functioning per merchant e buyer è sostanzialmente lo estesso. Come always in this settore, every player in the field has diverse characteristics.
Opyn Pay Later , for example, allows the sellers of the offered payment rates and delays with the greatest flexibility to their B2B clients to acquire digitali (since at a distance from the e-commerce) and physical in business, through a link of payment . In this way the merchant will have to import the client's tax code and send a payment request in direct and secure mode.
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