Pan-European flexible payment provider Hokodo and US-based fintech company Balance have released a joint research report which explores trends and attitudes among B2B sellers about cross-border payment terms. 

The report features data collected from a survey of 200 merchants and marketplaces across the UK, US, France and Germany, in order to discern what businesses are looking for in a global payment terms solution. 

Growth is on the agenda in 2024 - the report’s findings show that 44% of B2B sellers surveyed are preparing to extend their e-commerce operations into Europe next year, while 34% of B2B sellers plan to expand into the Americas. Payment terms have a significant part to play in this, as 65% of B2B sellers consider that offering payment terms is vital for influencing business growth in their respective markets. This suggests that growth could be stunted without access to flexible B2B payment terms. 

“The report shows that many businesses are making payment terms part of their long-term strategy,” says Louis Carbonnier, Co-founder and President of Hokodo. “Of particular note is the urgent requirement of smaller businesses, with 79% of UK and US respondents within the $80 million-$400 million revenue range noting global payment terms as a critical lever for business growth.”

The report demonstrates that cross-border payment terms are essential in order for businesses to secure meaningful, long-term growth. Balance and Hokodo’s partnership encompasses all the key elements of international payment terms management, from credit scoring, fraud mitigation and payment processing, through to insurance, financing and collections, to empower global merchants to achieve their growth goals.