Aprila partners with Tillit to offer superior payment solution for e-commerce business purchasing.
Tillit and Aprila have launched a true business to business e-commerce checkout solution to target the fastest growing segment within digital commerce.
The growth in e-commerce has naturally accelerated during the pandemic. Consumers are presented with a broad range of payment options at check-out, but payment options for businesses are very limited. With Tillit and Aprila, businesses can now sell their products and services online, and instantly accept and approve orders to be paid with invoice. Business customers can choose their preferred payment terms in the checkout and receive an invoice directly into their accounting system.
Aprila has a competitive edge in B2B onboarding and credit assessment with the Aprila transaction platform and decision engine. This has so far been used for invoice purchase (spot factoring) in online accounting systems, and it will now enable improved payment and customer handling solutions in e-commerce B2B. This is already a EUR 3 bn market in Norway today, and is growing at more than 17% per year.
The Tillit and Aprila solution enables a one-click checkout with invoice as a payment method, easy management and delegation of purchase accounts for the buyer, while still allowing sellers to manage customer accounts and distinct payment terms. Deferred payments for buyers will be offered at a later stage, completing a holistic “buy now, pay later” product for businesses.
With instant credit assessment, built-in fraud prevention and instant payments integrated into the product, sellers can increase sales, reduce administrative efforts and improve their working capital -all at the same time.
“Most business e-commerce checkouts today are merely factoring solutions with a checkout placed in front, and don’t actually solve or facilitate the process of selling goods or services. Tillit recognizes that B2B sales differs from selling to consumers, and strive to solve core merchant pain points such as how to offer customers the payments terms they need, targeted discounts and varying payment terms” says Halvor Lande, CEO of Aprila.
“We are on a journey to enable any business anywhere in the world to instantly and automatically open a customer relationship with another business online, without the pain of manual onboarding or handling of credit exposure. We are thrilled to partner with Aprila as they are a leading institution in instant credit decisions and management of business transactions” says Andreas Mjelde, CEO of Tillit.
The Tillit B2B e-commerce checkout is now available at three pilot merchants in Norway and will be rolled out to more than 10 merchants in the upcoming weeks.
Contact person Aprila Bank ASA:
Halvor S Lande
+47 924 32 305
Contact person Tillit.AI AS:
+47 462 40 184
=== About Tillit.ai AS ===
Tillit constitutes the 2 in B2b, addressing the pain point of managing onboarding, country-party risk and payments on invoice when selling products and services to other businesses. Tillit enables any business to sell their products and services online through invoice and with payment terms without any counterparty or credit risk. Tillit is currently offering its services in Norway, and soon will expand to UK and the rest of the Nordics.