Top B2B Invoice Payment Providers Compared
Invoice payment in B2B is one of the preferred payment methods in the business world and plays a crucial role in customer acquisition, increasing conversion rates, and revenue growth. B2B customers often prefer to pay on invoice to maintain their liquidity and utilize flexible payment terms. For sellers, offering this payment method provides a competitive advantage. In this article, we compare the top providers for B2B invoice payments, their terms, and the factoring solutions they offer to minimize payment defaults.
Why Invoice Payment Matters in B2B
Invoice payment in B2B offers significant benefits for both buyers and sellers:
- Liquidity Management: B2B companies can place larger orders without making immediate payments.
- Trust Building: A company offering invoice payment signals professionalism and trust.
- Increased Conversion Rate: Customers appreciate the flexibility of payment options, leading to higher completion rates.
- Revenue Growth: Invoice payment enables customers to place larger orders, increasing the average order value.
Factoring Solutions to Minimize Risk in B2B Invoice Payments
Since invoice payment in B2B carries an increased risk of payment defaults, many providers offer factoring solutions. These take over the risk and secure payments, ensuring that the selling company receives its revenue guaranteed.
Top 5 Providers for B2B Invoice Payment
1. Mondu.ai
Mondu.ai uses artificial intelligence to optimize B2B invoice payments. The platform analyzes credit data in real-time and provides tailored recommendations for invoice purchases.
- Fees: 3.49% per transaction + 30 cents, no base fees when integrated via Stripe.
- Factoring: Assumes the risk of payment defaults.
- Markets: Germany, Europe.
- Integration: Shopify, WooCommerce, Shopware, Stripe, Mollie, etc.
2. Billie
Billie is a leading provider in the B2B segment that secures invoice payments through factoring solutions. Billie pays out the invoice amount immediately and handles receivables management.
- Fees: 2.8% to 4% of the invoice amount.
- Factoring: Complete risk assumption through receivables purchase.
- Markets: Germany, Austria, Netherlands.
- Integration: API, Shopware, Magento, Stripe, Klarna, and more.
3. Klarna
Klarna, well-known from the B2C sector, also offers comprehensive solutions for B2B invoice payments that minimize the risk of payment defaults.
- Fees: 2.49% to 4% of the transaction value.
- Factoring: Complete receivables management and risk assumption.
- Markets: Europe, North America.
- Integration: Shopify, WooCommerce, Magento.
4. CrefoPay (Creditreform)
CrefoPay is an established solution from Creditreform and offers comprehensive risk management for B2B invoice payments, including credit checks.
- Fees: Dependent on risk factors and volume.
- Credit Check: Separate costs for credit checks, between 5 and 15 euros.
- Markets: Germany.
- Integration: Shopware, WooCommerce.
- Note: To use CrefoPay, a Creditreform membership is required. This costs approximately 380 euros per year, half of which can be used as credit for credit checks.
- Our Opinion: Compared to the providers above, this solution performs somewhat worse. It does not feel like a one-stop-shop solution, as various stakeholders are involved and generate corresponding costs. Additionally, there is no payment default protection, so despite a positive credit rating, there remains a residual risk of being left with unpaid receivables.
5. Ratepay
Ratepay offers flexible payment options, including B2B invoice payment. Through collaboration with Nets, protection is ensured for smaller businesses.
- Fees: Based on risk assessment.
- Factoring: Advance payouts and protection against payment defaults.
- Markets: Germany, Austria, Switzerland.
- Integration: Shopware, Magento.
Benefits of B2B Invoice Payment for Your Business
Implementing B2B invoice payment offers strategic advantages:
- Increased Conversion Rate: Customers are more likely to complete a purchase when they can order on invoice.
- Larger Orders: B2B customers tend to place larger orders when invoice payment is available.
- Long-term Customer Loyalty: Invoice payment fosters trust and facilitates repeat business.
How We Help with B2B Invoice Payment Integration
Integrating B2B invoice payment into an e-commerce system requires technical expertise and choosing the right provider. We offer comprehensive support with:
- Consulting: Selection of the appropriate provider for factoring solutions.
- Technical Integration: Implementation of payment solutions in systems like Shopware, WooCommerce, or Stripe.
- User Journey Optimization: Ensuring a smooth and customer-friendly process for invoice payments.
- Long-term Support: Optimization and support to adapt the solution to changing requirements.
With our support, you can get the most out of B2B invoice payment and increase both customer satisfaction and revenue.
