The B2B service provider Buy Now, Pay Later (BNPL) Hokodo has acquired a license, the presence of which grants the right to operate in all European financial markets.
After obtaining a license, this company will be able to offer a wide range of financial products for payment transactions, providing a number of advantages for suppliers and buyers. The relevant information is contained in the firm’s press release, which was published last Thursday, June 8.
Richard Thornton, co-founder and co-CEO of Hokodo, stated that obtaining a license is a landmark moment not only for Hokodo but also for B2B sellers and their customers across Europe. He said that the company’s presence in the area of distribution of EMI (electronic money institutions) regulation is a guarantee for trading partners and marketplaces that the firm is able to reasonably manage their funds and provide reliable protection.
The results of intra-industry research indicate that corporate customers who make purchases from B2B suppliers make a choice in favor of simple and optimized financial operations. At the same time, the number of companies that are exploring the possibilities of digital purchases and appreciate the convenience of this format of commercial activity is increasing.
Experts say that sellers who intend to engage in B2B customer service should introduce the possibility of placing electronic orders. This opinion is confirmed by the fact that the number of sales through digital channels is increasing.
The Hokodo press release states that the new license and an expanded set of payment solutions will provide sellers, marketplaces, and other suppliers with the opportunity to cooperate with this company in order to add a comprehensive payment offer including BNPL in their solution sets. In this case, customers will be able to apply their preferred payment methods within a uniform user interface.
Currently, Hokodo operates in six European markets. The current strategy of the company provides for the expansion of the geography of business across the continent.
Hokodo co-founder and co-CEO Louis Carbonnier says that since the launch of solutions in France and the UK in 2018, the firm has always had the largest European presence among BNPL B2B providers. After obtaining a license, he said, the company will help B2B service providers across Europe to provide customers with the credit and payment options they deserve.
Louis Carbonnier, during a conversation with journalists last year, said that 73% of users of B2B services are representatives of the millennial generation, for whom virtual space is preferable for shopping. At the same time, he stated that the providers of relevant commercial services should provide an unhindered experience of purchasing goods in a digital environment.
Louis Carbonnier also stressed that the experience of interacting with such trading platforms as Amazon forms something like a habit of unhindered shopping among millennials.
As we have reported earlier, Amazon Pay Adds BNPL Option by Affirm.