UK-based fintech Hokodo has partnered with France-based international banking group BNP Paribas to launch a B2B Buy Now, Pay Later (BNPL) solution for B2B commerce businesses. As detailed in the press release, Hokodo and BNP Paribas are set to provide a complete B2B payments solution, and the addition of the B2B BNPL offering has the aim of enabling large multinational corporates to provide their business customers with payment alternatives.

B2B commerce and what the BNPL solution entails Following the increase in B2B digital sales, B2B sellers have a need for a simplified order-to-cash experience. The announcement highlights that the requirements of these sellers are related to their wanting to be paid on time, without having to worry about credit or fraud risk, while simultaneously being enabled to provide buyers with a hassle-free purchasing experience and advantageous credit terms through any channel. This is believed to have a positive impact on sales, as it helps encourage repeat business and increase the average basket.

The B2B BNPL solution provides a fully digital experience and can be integrated into existing checkout systems via API in an easy manner. It helps provide instant buyer approval through a real-time credit decision process and an extensive acceptance rate due to the increasingly configurable models, which can be adapted to the activity and client typology of the B2B seller. The full service includes: Proprietary credit decisioning; Transaction financing; Credit and fraud insurance; Collection through an e-mandate and dunning; Different financing options to better fit merchants’ needs.

Commenting on the launch, Louis Carbonnier, co-founder and co-CEO of Hokodo advised that although historically B2B ecommerce has been underserved, the combined strengths of Hokodo and BNP Paribas are set to provide BNPL options to an increased number of business buyers. Lionel Joubaud, Global Head of the Factoring filière added that they are happy to announce a new generation solution for customers looking to increase their B2B sales, stating that together with Hokodo, BNP Paribas brings forth its cash management and factoring expertise to provide this BNPL solution. Hokodo, BNP Paribas offering Hokodo activates within the B2B BNPL space and works with more than 20 merchants and 15.

000 buyers across the UK, France, Spain, Germany, Belgium, and the Netherlands, having the mission of powering the B2B economy and making it fair and accessible for buyers and sellers alike. Being a bank with an international reach, BNP Paribas operates in 68 countries, aiming to help clients, be those individuals, community associations, entrepreneurs, SMEs, corporates, and institutional clients, realise their projects through solutions spanning financing, investment, savings, and protection insurance. .