Today, in the B2B ecommerce space, buy now pay later options are more accessible than ever before, e-invoicing is quickly advancing, and product content is becoming more digitized and sophisticated. But few trends are adding as much fuel to the fire as B2B marketplaces.
Global companies like Coca-Cola HBC, Walmart, Toyota Material Handling, are launching B2B marketplaces. However, when you have multiple buyer personas to address and need to onboard a large number of third-party sellers and suppliers, the challenges start to arise. Especially when it comes to B2B marketplace payments.
For starters, buyers need a single issuer of the invoice and they need credit terms on marketplace transactions. After all, most B2B buyers aren’t putting purchases on a credit card. But because the operator is not the seller of record, there can be a number of payment and compliance complexities.
Read on to learn how Bryzos, the leading digital marketplace for steel, and one of Applico’s top 50 marketplaces of 2021, quickly leveraged Balance to offer customers net terms financing and stopped worrying about payments for good.
