Canada-based B2B BNPL solution provider Tabit and US-based fintech Jifiti have partnered to extend embedded B2B lending to merchants in Canada. As outlined in the official press release, the offering is made possible by leveraging Jifiti's embedded lending platform.

To access this new solution, online merchants have to download the Tabit plugin from any ecommerce marketplace like Shopify or BigCommerce, then they can customise their user experience so that it caters to the needs of their customers and start offering instalment loans and net terms to their business buyers. Once they do so, the financing option available will be displayed for the customer throughout their buyer journey, from product pages to checkout. This feature is expected to increase sales, the average order value (AOV), and conversion rates.

Jifiti's platform, which plays an important role in extending the new offering, reportedly supports every B2B and B2C point-of-sale financing option, such as instalment loans, lines of credit, net terms, and split payments. What is more, because the platform is white-labelled, merchants retain complete ownership of customers and, therefore, can acquire valuable insights from the resulting data. When discussing the most recent announcement, an official from Tabit emphasised that they expect that the partnership will streamline the purchasing process for business customers, making it as straightforward as it is for consumers.

They further mentioned that by using their branded ecommerce platform plugins, merchants in Canada would have the capability to enhance their sales and cart sizes, all the while establishing enduring customer relationships. What do Tabit and Jifiti bring to the table? Tabit is a B2B BNPL solution made possible by Merchant Growth, a Canadian-based fintech specialising in small business financing. Tabit reportedly aims to provide the consumer buying experience to B2B.

Strategy-wise, the solution provider has a track record of partnering with B2B suppliers to facilitate flexible payment options at point-of-sale for small businesses. Earlier in 2023, it was announced that the company partnered with US-based multi-lender point-of-sale platform ChargeAfter as part of the platform’s efforts to increase its network of lenders. Jifiti is a fintech that extends white-labelled embedded lending solutions for banks, lenders, and merchants from all around the world.

Its platform provides banks and lenders with the needed technology to implement and expand consumer and business financing initiatives at any point of sale for merchants – whether online, in-store, or through call centres. This is not the first collaboration secured by Jifiti in 2023. The fintech similarly joined forces with global financial technology provider FIS to launch an embedded lending solution for delivery by banks and financial institutions.

.