9 great reasons to pick Terms.Tech’s B2B payment service in 2023
Hi! We’re Terms.Tech, and our mission is to revolutionise B2B payment terms with unparalleled flexibility and custom design for European merchants and marketplaces. This article is about some of the top reasons to choose Terms.Tech’s B2B payment service. Get in touch!
A growing number of platforms support B2B transactions between sellers and buyers. How can you stay competitive in this fast-changing business climate? One answer is to offer the best digital payment service on the market. Terms.Tech is an embedded finance payment service that allows sellers to offer risk-free flexible delayed payment terms to buyers. This enables competitive advantages for B2B marketplaces and businesses in any industry, and their customers.
Modernising your payment service
Modernising the payment service your business uses is not always as easy as it sounds. That’s why Terms.Tech provides B2B payment service that gives your customers an up-to-date, frictionless experience.
Modernising payments shouldn’t be a headache or an extra layer of unnecessary stress. Our deferred payments solution enables you to provide the digital experience that the people behind businesses have come to expect.
There are two ways to optimise your business with Terms.Tech:
- hosted solution, and
- an embedded solution.
How is the hosted solution useful?
The hosted solution’s perfect for multi-channel sales. Whether processing an order in-store, by phone or by email, your customers can use payment terms to pay now or pay later via our hosted solution. The hosted solution is great for SMEs who need to process offline or are looking for a test period before graduating to a full integration.
How is the embedded solution useful?
The embedded solution’s designed for ecommerce platforms. This includes anything from complex workflows for multi-party platforms to simple integrations with optimal user experiences. The embedded solution is ideal for B2B e-commerce platforms such as B2B marketplaces or any other multi-party business models.
Enhancing customer experience
Let’s face it – B2B customers love to pay for goods with credit. That’s what buyers want, so we believe that sellers should meet that demand whenever possible. Terms.Tech helps sellers satisfy and delight their customers by providing delayed payment terms at checkout.
Filling these customer needs also brings benefits to sellers by helping to increase conversion rates. Not only that, it will also help to attract new customers because our service is flexible, fast, and easy to use.
Payment service across the EEA and Switzerland
Terms.Tech provides delayed payment terms services throughout the European Economic Area (EEA) as well as Switzerland. That’s 31 European countries! You can easily allow buyers to pay on 30, 60, 90 or even 120 days while improving your own working capital and without carrying any default risk.
What about beyond the EEA and Switzerland?
If you do business outside the EEA and Switzerland, Terms.Tech helps you do that, too. We don’t want to limit your options or growth potential! We can service buyers from countries outside the EEA / CH who meet two basic criteria:
- They hold bank accounts within the EEA
- They complete the same KYC process required for buyers from the EEA.
Fast and consistent cash flow
Cash flow and working capital are so important to a successful business. That’s why Terms.Tech makes sure your cash keeps flowing, so to speak. We pay a seller up front and the buyer pays us back via payment terms up to 120 days or in instalments. It’s a win-win for you and your customers. Get ready to watch your DSO decrease!
If you’re selling goods and services, offering this service doesn’t only help you get your payment faster than before. You provide your business partners the opportunity to not just stay afloat, but to thrive. Terms.Tech service doesn’t cost them any extra! That’s a big plus regarding Customer Lifetime Value. A top quality payment service helps you to keep those customers for a long time in a strong business relationship.
Superfast, fine-tuned credit check
Terms.Tech uses its in-house-developed eligibility assessment tool to ensure we extend payment terms only to those with a good credit rating. The assessment tool provides two benefits:
- It takes the pressure off sellers and/or marketplaces – they don’t have to run their own checks or find a third party to do so.
- Our credit check process is lightning fast!
Late payments and non-payments are serious concerns. But, with Terms.Tech, that’s not your problem anymore! Our Buy Now, Pay Later solution is completely risk-free for sellers. Any payment defaults due to fraud or non-payment are on us. This way you can reduce your risk while focusing on what you do best. Terms.Tech helps you to build your business wisely and safely.
No need for a bank loan or tapping your treasury
With Terms.Tech’s BNPL solution, there’s no need for buyers to deplete their own treasury up front or to take out cumbersome bank loans. Terms.Tech lends the money for the B2B transaction and the buyer repays it according to the agreed schedule. Sellers no longer have the burden of drawing on their own treasury funds while waiting for payment because Terms.Tech pays upon proof of delivery.
B2B payment service for any industry
Electronics? Agriculture? Shipping & Logistics? Construction? Manufacturing? Tech suppliers? Name an industry and Terms.Tech would fit like a glove. It’s as simple as this: if you’re an SME buying or selling to other businesses, or a marketplace connecting buyers and sellers, Terms.Tech facilitates and smooths out transactions.
A full payment service package
Terms.Tech does not just offer its B2B Buy Now, Pay Later solution. BNPL, which is the delayed payment solution described through most of the article above, covers payment terms up to 120 days, pay in instalments, recurring payment terms, and subscription payments.
But, there’s more! Terms.Tech is a comprehensive B2B payments solution, also offering bank transfers (e.g. SEPA direct debit, SEPA credit transfer, Ideal, Payqonic) and debit/credit card payments (e.g. Maestro, Visa, Mastercard, Carte Blue, Bancontact).
Choosing your B2B payment service package
Terms.Tech is a reliable and efficient payment solution for businesses and marketplaces. It provides fast and easy setup, flexible payment options, and an automated payment system. Additionally, it looks after payment collection so you don’t have to while taking pressure off of your treasury. Its broad geographical reach throughout the EEA and Switzerland is unmatched.
Contact our experts and find out how Terms.Tech can help you help your customers.