Brought to you by Hokodo
Handling payment terms effectively is crucial for the success of any B2B marketplace. Proper management of trade credit impacts cash flow, not just for you but also for the buyers and sellers operating on your platform. Executed effectively, payment terms can forge trust with your customers, enhance the user experience, enable you to pay sellers promptly and give your marketplace an edge in an increasingly competitive market. But executed poorly… let’s not even go there.
If you’re asking “should my marketplace offer payment terms?” then you need to reframe your thinking. 83% of B2B buyers say they will abandon an e-commerce marketplace purchase if suitable payment terms aren’t available at the checkout. It’s not a question of whether you should, it’s a question of how you must.
As part of Hokodo’s Ultimate B2B Marketplaces Knowledge Hub, this guide provides strategies and advice to ensure your marketplace can offer payment terms that are fast, simple and effective for you, your buyers and your sellers.
