Wie sich Buy Now, Pay Later im B2B von B2C unterscheidet
Placeholder: Over the last few years, Buy Now, Pay Later (BNPL) has turned into a huge trend on the consumer side. It’s now slowly but surely entering the business-to-business (B2B) space too. At first glance, the two concepts look the same, but a closer look reveals that payment by invoice for business customers has to meet a number of requirements to enable the same customer experience as for consumers. We asked our Co-Founder Matthias Knecht what the main differences between business-to-consumer (B2C) and B2B BNPL are, and what to bear in mind when offering Buy Now, Pay Later to your business customers.
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In the B2C space, Buy Now, Pay Later is one of the most popular payment options. As consumers, we’re used to choosing freely which payment method we want to use. What does it look like in the B2B space?
Business customers have preferred paying by invoice for decades since this is a very common way of optimizing working capital for your company. But the fact is that sometimes it’s not even an option for companies to order goods online via payment by invoice. In this case, business buyers face large orders they must pay upfront. We experienced it first-hand during the pandemic when we tried to order many lateral flow tests for the office and had to pay immediately. So there you are with a huge order worth thousands of Euros, and you have no idea whether the goods coming from the other side of the world are satisfactory or not. Apart from the poor buyer experience, this can also significantly restrain a company’s cash flow.