French banking group BNP Paribas has announced plans launch a Buy Now, Pay Later (BNPL) service aimed at business-to-business customers.
Launched in partnership with BNPL firm Hokodo, the service aims to enable corporate customers to provide alternative payment options to their customers.
BNP Paribas said that the new service is fully digital and can be integrated into existing checkout systems via an API.
It added that the new BNPL option includes instant buyer approval through a a real time credit decision process. Alongside this, the service offers a number of other features such as fraud insurance and collections through dunning.
Commenting on the news Lionel Joubaud, global head of the factoring filière at BNP Paribas, said: “After decades of successful development of our European factoring franchise, we are thrilled to announce a new generation solution for our customers wishing to increase their B2B digital sales.”
Last year BNP Paribas announced the launch of an e-learning primer to support the understanding of the importance of acquiring Environmental, Social and Governance (ESG) skills. The e-learning module is available to BNP clients and staff and was jointly developed with the CFA Institute.
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