Main B2B Purchase Now, Pay Later (BNPL) supplier Hokodo has in the present day introduced a brand new plug-in for multinational e-commerce platform Shopify.
This integration is the primary of its form, positioning Hokodo as the one viable selection for Shopify’s B2B retailers who need to supply clients the power to defer fee by as much as 60 days. The plug-in is on the market to Shopify retailers working within the UK, France, Spain, Belgium and the Netherlands.
“Our new Shopify integration has been designed with the service provider expertise in thoughts, and might be put in in just some steps with no growth work required,” says Sami Ben Hatit, Hokodo’s co-founder and CTO. “This might be welcome information to SME retailers who don’t have the expertise assets to spare for a a number of weeks lengthy integration.”
Sellers who supply Hokodo’s deferred fee answer on the checkout have seen an uplift of 40% in conversion fee and a 30% enhance in basket measurement. In the meantime, enterprise clients profit from the chance to ‘purchase now, pay later’ on their purchases, in the end selling more healthy money circulate for each events.
The way it works
1. A Shopify service provider instals Hokodo’s plug-in to make credit score phrases obtainable to their enterprise clients.
2. The client visits the Shopify retailer of the service provider.
3. On the checkout they select to pay later.
4. Hokodo’s bespoke APIs run real-time eligibility checks on the client’s credit score rating and fraud threat.
5. The client selects their most well-liked fee phrases and settlement methodology (bank card, direct debit, financial institution switch and many others.), and confirms their order.
The client pays Hokodo again according to their fee phrases, whereas the service provider receives up entrance fee when supply of the products is confirmed. Hokodo handles the collections course of, and because of backing from Lloyd’s of London, retailers are at all times protected in opposition to non-payments.