Company News

August 23, 2024

payever and OroCommerce partner to expand B2B payment options!

payever, a payments-first company for businesses, partnered with OroCommerce to offer a wider array of payment options for B2B operations. With this partnership, they can integrate payever’s payment solutions seamlessly without the need for IT system upgrades.

The partnership enables businesses to streamline their resources, reduce IT overhead, and concentrate on driving growth. By enhancing conversion rates and maximizing sales potential, this integration positively impacts the balance sheet.

However, businesses encounter challenges when implementing multiple payment options in B2B operations, despite the significant advantages. Those obstacles include:

Adoption costs: Diverse payment methods may result in additional costs charged to merchants, with transaction fees and implementation costs often varying by provider. For multinational businesses, there are additional considerations, including currency conversion, transaction volume, and authorization rates. 

Increased payment stack complexity: Adding new payment methods can complicate a business’s existing payment setup, often requiring more IT resources and longer timelines for setup, monitoring, maintenance, and troubleshooting.

Expertise gaps: Many businesses are not structured to manage payment complexities, which may distract their technical teams from core functions. Engineers, in particular, may struggle with the difficulties of integrating and managing diverse payment methods.

Localization challenges: Global businesses encounter a unique challenge due to localization. Offering relevant payment methods to each market is crucial, considering how irrelevant payment options or language mismatches on checkout pages can increase the risk of cart abandonment.

How payever and OroCommerce partnership addresses the barriers

The partnership between payever and OroCommerce aims to address those barriers presented in the eCommerce industry through an easy-to-implement, seamless integration for businesses seeking multiple payment options.

OroCommerce, the only single-license B2B eCommerce platform, offers a unified solution for automating business processes across B2B, B2C and B2B2X operations. This partnership ensures OroCommerce’s functionality, owing to payever’s plugin integration.

Businesses within the ecosystem can activate a wide array of payment options directly from their OroCommerce dashboard. This helps optimize their resources, considering the integration of payever’s plugin can be implemented without additional adoption costs or resources.

With payever’s integration, businesses can gain access to these payment options:

B2B Buy Now Pay Later (BNPL): Businesses can benefit from the 30 to 90-day payment terms and cart value up to €30,000 per customer, enhancing purchasing flexibility without factoring.

Open Banking solution: This option supports real-time payments with the lowest fee, ensuring faster payment processing and supporting efficient cash flow for businesses.

Expanded payment options: With payever’s plugin, businesses can enable various payment methods, including card payments, digital wallets, local payment systems, and B2C payment options like BNPL and consumer financing, all securely processed.

The different payment options provide businesses with flexibility to choose their preferred method. At the same time, this solution aims to meet the B2B operations’ needs, where invoice payments are often preferred.

This streamlined integration simplifies the adoption of diverse payment methods for businesses, enhancing the payment experience and reducing obstacles to purchase, ultimately driving and improving operational efficiency. 

In conclusion, the multiple payment options for B2B transactions in payever’s solutions represent a significant step forward in enhancing the efficiency and reliability of business operations.

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