Payer Financial Services (Payer) has developed a new registration product that revolutionizes how customer relationships are made between companies online. The product enables e-commerce merchants to verify new customers as trustworthy so they can make their purchases with ease. Today, Payer launches a beta test program with several B2B merchants.
The Swedish B2B payments startup Payer is known for its modular B2B payments platform. The new product, yet to be named, was developed to meet market expectations for better buying experiences in the B2B e-commerce segment.
Read More: How Big Data can add to Operations Efficiency for CMOs
“B2B expectations for a better buying experience online is clearly driven by modern consumer-facing apps and software that are light-years ahead. Payer is determined to lead the development of the end-to-end payment chain for B2B. Our new product solves the conversion and onboarding of new customers for merchants, as well as recognizes recurring customers at checkout,” says Peder Berge, founder and CEO of Payer.
Digitization – solving a manual process
Today, an estimated 90% of global B2B purchases are made with a backbone of invoice payments. The payment method works particularly well for companies, as information related to accounting and taxes follows with each invoice.
“Invoicing is clearly the preferred method of payment across the globe. But it’s still not fully digital and user-friendly. Most of the manual processes both on the customer and merchant end of a purchase should be effectively removed. This product does exactly what both target groups are looking for,” says Johanna Stridsberg, product owner at Payer.
Beta testing begins for the Swedish market
As one of the most progressive e-commerce and fintech markets in the world, Sweden is a great test market for the beta phase. Local incumbents and international e-commerce merchants, with Sweden as a target market, are now welcomed to participate as beta testers.