Flexbase, a finance super app for businesses, is offering Buy Now Pay Later (BNPL) functionality to B2B merchants across various industries.
Called Flexbase Pay, this product gives merchants an opportunity to increase their revenues while granting businesses greater freedom in payment options, including 60 days of interest-free credit.
“Most merchants, such as those in construction and home improvement like DOZR, are not in the business of managing credit and customer payment collections. And yet, the businesses buying from them demand net-60 payment terms. This is where Flexbase Pay comes in,” said Zaid Rahman, CEO, Flexbase. “Merchants can get funds immediately while businesses get net-60 days of interest-free credit for payments. This ultimately helps merchants sell more products while giving businesses much needed flexibility on their cash flow.”
BNPL lets businesses make purchases and receive them immediately but pay for them after 60 days. While it has been widely available to consumers, businesses have a different and more complicated underwriting process that Flexbase handles through this offering, providing a consumer-like experience of receiving financing in less than five minutes.
Merchants using Flexbase Pay simply provide a “Pay in 60 days with Flexbase” button in their checkout pages to enable the functionality.
