BNP Paribas is a leading bank in Europe with an international reach. It operates in 68 countries and has more than 193,000 employees, including nearly 148,000 in Europe
BNP Paribas registered head office in Paris. (Credit: Boubloub/Wikipedia)
Today, market-leading fintech Hokodo joins forces with French international banking group BNP Paribas to deliver a best-in-class and frictionless B2B Buy Now, Pay Later (BNPL) solution that enables large multinational corporates to provide payment alternatives to their business customers.
Together, BNP Paribas and Hokodo will offer the most complete B2B payments solution available on the market. As a rapidly scaling fintech, Hokodo brings agility and an innovative technology platform to the partnership, which is complemented by BNP Paribas’ broad expertise, financial strength, and unrivalled reputation.
With the booming rise of B2B digital sales, B2B sellers are in need of a streamlined order-to-cash experience. They want to be paid on time without having to worry about credit or fraud risk, while offering their buyers a frictionless purchasing experience and advantageous credit terms through any channel. This is proven to positively impact sales, by encouraging repeat business and increasing the average basket.
Our B2B Buy Now, Pay Later solution offers a fully digital experience and can be easily integrated into existing checkout systems via API. It provides instant buyer approval through a real-time credit decision process and a wide acceptance rate thanks to our highly configurable underwriting models, adaptable to the activity and client typology of the B2B seller. The full service includes proprietary credit decisioning, transaction financing, credit and fraud insurance, collections through an eMandate and dunning, as well as different financing options available to better fit merchants’ needs.
“Historically, B2B e-commerce has been critically underserved, but with our combined strengths, BNP Paribas and Hokodo are going to offer BNPL options to more business buyers than ever,” said Louis Carbonnier, co-founder and co-CEO of Hokodo.
“After decades of successful development of our European factoring franchise, we are thrilled to announce a new generation solution for our customers wishing to increase their B2B digital sales. Together with Hokodo, BNP Paribas brings the best of its cash management and factoring expertise to offer this state-of-the-art Buy Now, Pay Later solution”, said Lionel Joubaud, Global Head of the Factoring filière.
Source: Company Press Release