Payment solution for large B2B fence supplier allowing their trade customers to spread purchases over 3 months
Our client is a large national fence supplier based in the North of England, wholesaling fences and construction materials for various uses – from garden fences to steel security fences. With annual sales of £30m our client is one of the leading fence suppliers in the UK.
The fencing supply market is fiercely competitive and our client has been looking for ways to differentiate from the competition in order to continue growing profitably. An average purchase is around the £5k mark, and their clients regularly ask for credit terms which has proved to be a key buying decision.
Our client has put a Buy Now, Pay Later solution in place for their trade customers. Business customers now have the ability to opt to spread purchases over 3 months, removing barriers to placing an order. Our client has opted to absorb the 3% cost of finance, meaning that the finance is then interest-free for the end customer. While the end customer pays over 3 months, our client receives their payment immediately, with credit being provided directly from the lender to the end customer. This payment solution has proved to be popular with new and existing customers and is contributing to increased sales.