FinTech Adyen partnered with B2B payments platform Billie to offer buy now, pay later (BNPL) payment services to online shops and marketplaces.
The integration allows Adyen’s customers to activate Billie’s B2B BNPL solution in Germany, Austria, Sweden and the Netherlands, with more countries to follow, the companies said in a Tuesday (Feb. 20) press release.
By teaming up with Billie, Adyen aims to help merchants and their business customers overcome common challenges in B2B commerce, such as managing cash flow, eliminating payment defaults and fraud risks, and simplifying collection processes, according to the release.
The partnership provides an alternative to corporate credit cards, offering real-time credit approval, fraud protection and increased conversion rates, the release said.
The integration of Billie’s B2B BNPL solution into the Adyen platform is designed to make online payments easier for buyers through eCommerce and mCommerce channels, per the release. Business buyers can make purchases and defer payment for up to 30 days, while merchants receive payment upon shipment of goods.
Adyen offers its customers access to over 150 payment methods on a single platform for enterprise-level online payments, according to the release.
While Germany, Austria, Sweden and the Netherlands are the first to go live with this integration, France, the United Kingdom and Switzerland will follow in the coming months, the release said.
“Our partnership will enable thousands of merchants across Europe to grow their customer base, modernize their B2B payment stack, and expand risk-free into new markets,” Christian Grobe, co-founder and co-CEO of Billie, said in the release.
PYMNTS Intelligence found that BNPL can simplify and accelerate B2B payments, offering many of the same benefits for this realm as it does for individual consumers.
By splitting large payments into smaller installments, BNPL can help corporates navigate the pressures of acquiring inventory and raw materials to keep their businesses viable and manage costs, according to the PYMNTS Intelligence report “Is BNPL the Next Driver for B2B Growth?”
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