More than 20% of business buyers can’t (yet) use their preferred payment method
Biller is the first Dutch B2B BNPL solution in the market and it’s now integrated with the Pay. payment platform. The two Dutch payment companies have one goal with their cooperation: to offer the best and safest Buy Now, Pay Later payment service to businesses across Europe. Research by Thuiswinkel.org shows that more than 20% of business buyers aren’t able pay with their preferred payment method. This is largely because many business buyers don’t have the option to buy on invoice online, despite it being the most commonly used payment method offline. This means a huge difference from their personal consumer experience. This difference can ultimately lead to a lower conversion rate.
The new business buyer needs a better user experience and payment method
B2B buyers are ultimately also consumers. And they’re used to a great B2C experience where they can pay in seconds and get the product the next day. The B2B experience on the other hand is often cumbersome. Usually, an account has to be created to buy at all, lower credit limits apply and it can take days after signing up before a purchase can actually be made. Business buyers deserve, and now expect, an optimal user experience and a simple payment method. This is one of the main reasons why Biller was founded. Derek Vreeburg, Biller Co-founder & Managing Director, is enthusiastic about the new collaboration with Pay:
“In the consumer market, more and more people are using Afterpay and Klarna, but an option specifically developed for the business market was not yet available. That is, until we set up Biller a year and a half ago. It’s great that the founders of Pay. want to offer our payment method through their platform. Now anyone who wants to can offer our B2B BNPL payment method to business buyers with just a few clicks.”
Between 10 and 30% higher conversion
The extra payment convenience and speed you gain with Biller via Pay. is enormous. Offering BNPL payment methods can lead to a conversion increase of between 10 to 30%. Although Biller has only been around for 18 months, Menne Mennes, Pay. Chief Commercial Officer, says it makes no sense to wait any longer to offer Biller on the Pay. platform:
“B2B BNPL provides many advantages for both business buyers and sellers. It’s extraordinary that we have not yet had a ‘user-friendly’ solution for this in the business market. After all, we have long known that a good user experience for payments increases conversion. This can be of great benefit, especially in the business market where large sums of money are often involved. Solutions like Biller are desperately needed.”
Vreeburg agrees, and is pleased that the payment experts at Pay. know the market so well that they immediately recognised the importance of using Biller, and adds:
“Other Payment Service Providers sometimes have a somewhat wait-and-see attitude, but Pay. doesn’t. They have enough in-house knowledge and experience to determine what their business customers need.”
BNPL in business is an absolute must have
The partnership between Pay. and Biller is going to bring major benefits according to Mennes:
“Pay. already has a large reach with thousands of customers across Europe. Those businesses can now add Biller as a payment method with just a few clicks. Biller’s reach and brand awareness will grow rapidly as a result. But of course, this collaboration is also important for Pay. We always do our best (and usually succeed) to offer the most innovative payment methods to our customers. Buy Now, Pay Later for businesses is an absolute must-have, so we are very happy to be the first PSP in the Netherlands to offer Biller’s services. Ultimately, we do this to satisfy our and Biller’s customers, and I think we have been very successful. But do test this payment method yourself and let us know what you think.”
Biller is the AI-powered B2B Buy Now, Pay Later service designed to simplify buying and selling online for businesses. With Biller, businesses can make online purchases quickly and securely, without having to pay straight away. And sellers can sell their products without worrying about credit risk or late payments. Established in 2021, Biller brings the convenience of paying later from the consumer market into the business market. From its headquarters in Amsterdam, Biller is revolutionising BNPL payment options for the business market with a total transaction value estimated at €600 billion in Europe. Biller has been part of the Banking Circle ecosystem since January 2022.
Pay. completely relieves businesses of all payment worries, allowing them to focus on their core business and achieve further growth. That way, Pay. not only facilitates payment, but also creates the smoothest and safest possible sales experience for businesses and their customers. With a higher conversion rate as a result. Pay. is a reliable and smart partner that processes hundreds of thousands of payments every day.
How can B2B Buy Now, Pay Later help your business?
If you’re tired of chasing invoices or juggling competing financial priorities, B2B Buy Now, Pay Later could be for you.
What is B2B Buy Now Pay Later?