Introduction
Billie, a fintech that specializes in providing flexible loans for business customers has integrated Stripe. The two payment processors hope to benefit from each others growing influence in the fintech landscape. This partnership would especially help Billie to grow its market size, expanding into European countries where Stripe already holds a large customer base.
The announcement about this partnership was released by the Billie team and it is filled with excitement. A representative of Billie in charge of partnerships expressed optimism that this integration would open up business opportunities for physical and online businesses in Europe to achieve their financial goals without stress. Before we go fully into this, here is a background information about Billie.
Financing solutions for businesses
Billie was established in 2016 to fill a huge need to provide flexible project financing for businesses. Basically, the fintech provides loans for businesses on demand. These loans are for bulk purchases made by businesses that may not be able to pay one time. Billie is thus a Buy Now Pay later (BNPL) for businesses. It is one of the few providers of purchasing loans for merchants to enable them get to their goals without being hindered by finances.
Businesses that use Billie on their online stores would be able to get full payments of goods purchased by customers even when the customer is not paying in full. Once the customer who needs a BNPL option chooses Billie to checkout, the customer would be allowed to pay by installments. Billie will of course do a background credit check to ensure that the customer qualifies for the loan. Once the check is done successfully, Billie pays the merchant and collects the loan repayment from the customer by installments.
Billie is an integrated ecosystem for innovative payment solutions. Another aspect of Billie that businesses might find interesting is tele-sales. With the popularity of smart devices today, many customers are using their phone to buy online. Billie allows its partners to offer a telephone order service. It means with a phone call, a customer can order candy, shop for bags, shoes or anything. Billie BNPL is also integrated here. So the customer calls to order something, while Billie does the rest including in-purchase loan.
Merchants that also operate physical shops only can benefit from Billie products. This is because Billie has a product for In-person purchases. So customers that visit physical shops to buy from a business could also enjoy the Billie Buy Now Pay Later Service. This also incudes sales made through store apps. Physical stores could integrate their Billie into their mobile app, allowing customers to access loans on the go with Billie.
A business that plans to integrate Billie into all its sales channels would have some discounts for doing so. That means if they wish to add Billie to apps, physical shops, online shops or other channels. Billie invites merchants to reach out to their team so that they could discuss how to make Billie a face of their payment solution across all its market outlets.
Partnering Stripe
Billie is all for business growth. The fintech hopes to grow buy providing financing and payment solutions for other businesses to help them achieve their objectives. Having operated in the space for more than 7 years now, Billie has not not only helped businesses grow. It has also witnessed significant growth. Currently, the fintech is offering its service to more than 500,000 businesses and this number is still increasing. This massive number includes more than 3500 shops that integrates Billie for customer payments.
In order to further expand its customer base as well as area of operation, Billie announced this brand new partnership with Stripe. The integration with Stripe would see Billie reach out to markets scattered across Europe that are already using Stripe as a payment processor.
With financial still a huge challenge for businesses large and small, Stripe customers would be able to leverage Billie BNPL services to attract new customers and make old customers keep on coming back. When businesses are able to provide innovative payment options like those of Billie to their customers, then they are sure to retain a high percentage of happy customers.
The Billie team are really optimistic about this partnership and hopes that it would be a huge win for all involved - for Billie, Stripe and individual customers that would be able to buy on credit. Here is how the team feels about this development:
We are excited to offer Stripe merchants easy access to one of the most sought-after payment methods in B2B commerce: pay later by invoice, “Our partnership will enable thousands of merchants across Europe to grow their customer base, modernize their B2B payment systems, and expand into new markets without facing the risks of payment default or fraud. source
Finally
If you are a business owner in Germany or across Europe, then you might consider becoming one of the more than 500,000 happy businesses that are using this service to sell more. With this huge leap of integrating Stripe, it just gets better.
Its great if you would learn more about Billie. Feel free to get more enlightened from the official website of Billie before deciding to get involved.