iwoca, one of Europe’s largest small business lenders, today announces the integration of its B2B payment solution iwocaPay with leading commerce platform, Shopify.
The move will allow Shopify’s B2B retailers to embed iwocaPay, the B2B trade credit solution, into their ecommerce checkouts. With iwocaPay at checkout, Shopify merchants can offer flexible payment terms to their business customers at checkout, while taking on no credit risk themselves – making no immediate payments – and getting paid instantly.
Shopify is one of the fastest growing commerce platforms, which allows retailers to create their own online shops, without requiring extensive technical knowledge.
Supporting SME growth with PayLater
Since going live in 2020, iwoca’s Buy Now Pay Later B2B payment solution – iwocaPay – has gone from strength to strength with consistent triple digit growth year-on-year in 2023. Now with over 1000 merchants and integrations including Magento, WooCommerce, QuickBooks and Xero, iwocaPay has the potential to help hundreds of thousands of businesses annually.
iwoca’s integrated B2B payment solution was born out of the need for SMEs to offer their customers flexible and easy payment solutions, access capital to facilitate growth, and reduce the unnecessary admin that comes with trade credit. By removing cash flow barriers for SMEs, iwocaPay aims to boost business growth.
Lara Gilman, co-lead, iwocaPay at iwoca, said: “We’re delighted to be integrating with Shopify, giving businesses the flexibility to offer a better alternative to trade credit through iwocaPay. As the number of online B2B businesses grows, so does demand for more tailored solutions around purchase and payments processes. iwocaPay will enable Shopify’s growing B2B base to provide their trade customers with extended payment terms without taking on any credit or late payment risks.”