For today’s B2B Retailers, the payment’s experience is a significant contributing factor in the B2B buying decision.
Offering more payment options at checkout translates to more retail purchases from loyal customers.
According to a 2022 TreviPay report, over 50% of buyers stated a slow or lengthy approval for payment terms would be their top reason for choosing another supplier.
The report also revealed that 90% of business buyers feel that a poor checkout experience would have a negative impact on the likelihood to become a loyal customer.
To deliver on the rising expectations of B2B retail buyers it is therefore necessary to improve the customer experience with offerings like speedy trade credit and longer payment terms – to surprise and delight whether it’s at checkout in-store or online.