How can the food & beverage industry be scaled with payment terms?
Developing your own BNPL solution isn't easy. That's why others rely on Terms.Tech. Whether it's a user-friendly design with an easy integration or a sophisticated solution for complex business models, our professional services team will help you realise your objectives.
In 2022, the food and beverage industry was estimated to be worth $435 billion, with worldwide revenue expected to increase from $506 billion this year to $857 billion by 2025.
The wholesale buying and selling of food and beverages has traditionally been done through brick and mortar shops with trade credit offered manually. However, this has changed in 2020 when we witnessed a massive shift to online purchasing: a 51.6% year-over-year increase for food and 39.3% for beverages. Despite this, deferred payment options in the B2B food and beverages market are still not offered as a standard to the buyers. Banks have too not been able to respond to the increased demand for online trade credit.
Luckily, this is fast changing and companies like Terms.Tech have developed a solution that can help your buyers put off the payment later and your sellers access the cash faster.
5 simple steps to check out with Terms.Tech
Step 1
The buyer goes to your online store, buys the goods and heads to the checkout.
Step 2
When the buyer decides to pay with Buy Now, Pay Later, their potential credit limit is displayed on the screen and they are asked to select the payment terms that fit their business needs. Payment terms range from 30 to 90 days.
Step 3
Terms.Tech runs a real-time eligibility & fraud risk assessment in the background and the buyer confirms the BNPL purchase by signing the product agreement.
Step 4
We pay you and your seller once the order has been shipped and we received the order documents (invoice & proof of delivery).
Step 5
The buyer pays us back on the payment due date in line with the selected payment terms.
Step 1
The buyer goes to your online store, buys the goods and heads to the checkout.
Step 2
When the buyer decides to pay with Buy Now, Pay Later, their potential credit limit is displayed on the screen and they are asked to select the payment terms that fit their business needs. Payment terms range from 30 to 90 days.
Step 3
Terms.Tech runs a real-time eligibility & fraud risk assessment in the background and the buyer confirms the BNPL purchase by signing the product agreement.
Step 4
We pay you and your seller once the order has been shipped and we received the order documents (invoice & proof of delivery).
Step 5
The buyer pays us back on the payment due date in line with the selected payment terms.
5 reasons to choose Terms.Tech as your Buy Now, Pay Later provider
Enhance Customer Experience
B2B customers love to pay for goods with credit. Offer Terms.Tech’s payment terms at your checkout, increase conversion rates and attract new customers.
Larger Transaction Sizes = Increased Revenues
Without providing payment terms, only a few B2B customers would be brave enough to make large transactions. With our credit limit strategy of up to EUR 70k the buying decision is made easier.
Fast and Consistent Cash Flow
We pay you and your sellers up front and the buyer pays back in up to 90 days or in instalments. Any non-payments? No problem. We take care of all outstanding payments.
Fine-tuned Credit Check
With our in-house developed eligibility assessment tool, you can rest assured that we extend payment terms to buyers with a good credit rating only. Give your business the reputation it deserves.
Risk-free
Our Buy Now, Pay Later solution is completely free of risk to you. Any payment defaults due to fraud or non-payment is on us. This way, you can earn money without taking any chances.
Ready to grow your business with us?
Sell more and increase your revenues with our fully customised Buy Now, Pay Later solution
