Stockholm based fintech Payer Financial Services has developed a new registration product which will, it claimed, revolutionise how online customer relationships are made between companies.
The company said that the product enables e-commerce merchants to verify new customers as trustworthy so they can make their purchases with ease.
And Payer has launched a beta test program with several B2B merchants.
The Swedish B2B payments startup Payer is best 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.
Payer founder and CEO Peder Berge said: “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.”
The backdrop is that currently 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.
Johanna Stridsberg, product owner at Payer, added: “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.”
Sweden is said to be one of the most progressive e-commerce and fintech markets in the world, and a great test market for the beta phase of Payer’s launch.
