Yapily has partnered with B2B Buy Now Pay Later (BNPL) start-up Two, enabling merchants to offer BNPL services to their business customers instantly at checkout. SMEs are the backbone of Europe’s economy. They account for almost two-thirds of European jobs and contributed approximately €3.5 trillion to the European economy in 2020. Yet, as reported by Allianz, industry research estimates that a €400 billion SME finance gap still exists in Europe. Together, Yapily and Two are easing the burden for these SMEs by offering alternative ways to access credit via BNPL and open banking. When a business chooses to pay with Two at the online checkout, using Yapily Data, two can instantly retrieve the buyer’s account information to support its real-time ID verification checks. This includes fetching user information such as name and date of birth, as well as transaction data to support fraud analysis. Once approved, the business customer then has the option to pay up to 90 days after the purchase is made.
SME owners no longer need to worry about waiting to make vital purchases to accelerate business growth or turning to potentially harmful short-term lending vehicles. Businesses will also benefit from a more seamless online buying and selling experience, giving them more time to get back to what matters most: growing their business. E-commerce platforms offering Two at checkout can expect higher business customer approval rates of up to 90%, an increase in average order value up to 60%, and a 20% uplift in sales conversion rates.