Buy now, pay later (BNPL) has gained enormous traction with individuals by attracting consumers who are looking to stretch their buying power and de-stress their budgets. It’s a basket of benefits that businesses are also looking to embrace to help manage their own purchasing while also improving their cash flow.
While so-called “net terms” have existed in B2B trade for decades, some of the qualities of BNPL are now catching on in the B2B realm, Dan Zimmerman, chief product and information officer at TreviPay, told PYMNTS.
“I think the first impact we’ve seen from BNPL, and how B2C is influencing B2B, is that it’s driving this change in expectations that net terms should act a lot more like BNPL — real time, digital, fast, easy,” he said. “The new expectations of net terms or direct bills as referred to in B2B are getting changed by BNPL from B2C.”