IwocaPay Integrates With Quickbooks as B2B BNPL Demand Grows

Britain’s iwocaPay says its integration with Quickbooks lets thousands of businesses buy now, pay later.

The business-to-business buy now, pay later (BNPL) provider announced the integration Wednesday (Feb. 8), noting that it followed a similar integration with WooCommerce. 

The integration will let business customers offer BNPL without worrying about carrying credit or late payment risks, said Lara Gilman, co-lead of iwocaPay.

“The ability for them to offer this flexibility to customers during today’s turbulent economic times will help B2B businesses attract more customers and make more money, whilst having better control of their own cash flow,” added Gilman.

Launched in 2020, iwocaPay aims to help small businesses with cash flow, offering the ability to pay upfront or stretch payments over 90 days. The company’s past integrations include one with accounting software provider Xero in 2021.

This latest integration comes as B2B payments are fueling an uptick of BNPL in Europe, as PYMNTS wrote last week.

Although the explosion of the BNPL concept has chiefly centered around the business-to-consumer (B2C) sector, BNPL for business has been gaining traction in recent years, helped along by increasing funding rounds and partnerships.

Last month alone saw a storm of activity on this front.

For example, Berlin-based B2B BNPL firm Mondu topped up its Series A with an additional $13 million; Hokodo and Lemonway joined forces to help B2B marketplaces offer trade credit online 

Santander, Allianz Trade and Two debuted a new BNPL solution for large businesses.

“The flurry of activity suggests that there is plenty of demand from businesses for flexible payment solutions, prompting B2B lenders to use BNPL solutions to meet a variety of business credit needs,” PYMNTS wrote.

Mondu, for example, is pitching its solution to wholesalers that want to increase sales by offering their business clients more time to pay. 

Just as with the consumer space, the company allows businesses to easily integrate BNPL options into their online checkout flow, while Mondu determines buyers’ creditworthiness and carries the risk of non-payment itself.

But although the basic premise may sound similar, Mondu is projecting that the ultimate prize is far greater in the B2B segment. 

As Mondu Co-founder and Co-CEO Philipp Povel told PYMNTS last year, “while B2B BNPL is behind the consumer BNPL market, we believe there is a $200 [billion] opportunity just in Europe and the U.S., which is bigger than the global consumer BNPL market.”