As DigitalCommerce360 reports, buy-now-pay-later (BNPL) firms are now targeting business payments. The goal is to provide B2B companies with short-term loans to help them manage their daily business. The juice is definitely worth the squeeze; BNPL is already a $700 billion industry.
One such company is Mondu. Its co-founder, Malte Huffman, believes that there’s a $200 billion market opportunity for B2B BNPL just in Europe and the United States. The popularity of this solution in B2B is not surprising. For starters, the value of B2B transactions is much higher, so there’s an opportunity to make more on each transaction. And secondly, with all the problems going on in the world like now, it’s understandable that business-to-business companies look for a more elastic way of ordering goods and services they need. For example, B2B BNPL is especially useful when it comes to financing supply chains.
And what about you? Is BNPL something you’re waiting for in your B2B company?