FinTech: Hokodo And Balance Join So Global B2B Sellers Can Offer Favorable Credit Terms

October 24, 2023 | FinTech, News

“The partnership will empower merchants to scale their international operations rapidly.” – Bar Geron, Balance’s CEO

Hokodo, a European company, and Balance, based in the United States, have jointly announced a groundbreaking partnership that will reshape global payment terms in B2B transactions, opening new horizons for buyers and sellers. This collaboration creates a comprehensive solution for payment terms, allowing worldwide B2B enterprises to effortlessly extend flexible payment options to clients across Europe and North America. Merchants, seeking growth and customer attraction, recognize that offering favorable payment terms is key. Additionally, easy credit access is essential for cultivating loyal customers.

Research by Balance and Hokodo underlines the need for a unified payment terms solution spanning regions, with 62% of B2B sellers expressing this demand. This partnership marks a turning point in digital trade credit evolution.

The Hokodo and Balance global financing solution brings:

  • Swift and Versatile Payment Terms: Providing B2B buyers and sellers with flexible financing terms akin to B2C BNPL solutions for exceptional convenience.
  • Technology-Powered Assurance: Leveraging technology for fast, compliant, and reliable assessment of buyer profiles.
  • Global Reach: Facilitating easy payment term offerings to European and North American buyers via a single solution.
  • API-Centric Approach: A flexible, modular solution rooted in API technology, tailored to the specific needs of merchants and marketplaces.

The first beneficiary of these transatlantic payment terms is FoodoMarket, a French-based food marketplace for restaurants and caterers. This partnership aims to empower global online merchants, facilitating international expansion without affecting the customer experience, ultimately making global trade credit more accessible and efficient.

Related Story:  Digital Payment Infrastructure Provider Episode Six Launches BNPL, Or B2B Instalments

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