Resolve accelerates B2B ecommerce with Automated Net Payment Terms
If you are a business to business (B2B) supplier then there’s a financing service that may be of interest. Resolve has formally spun out of Affirm to launch an automated payments platform offering extended net terms. The idea is that if you offer 30, 60 or 90 day payment terms, then your business customers can order more but you get paid immediately.
Early customers using Resolve’s payment automation technology have realized significant increases in B2B sales with growth in order size and faster sales cycles. There are plenty of companies offering working capital loans to small businesses, but they depend on the customer applying for the loan. With Resolve you can offer the loans at the point of sale.
Traditional B2B financing is slow, inaccurate and limits a business’s potential for growth because of an over reliance on email, call centers, faxes, and manual invoicing processes. Today, many companies offer a standard net 30-day payment plan only to their best and longest tenured customers, leaving others in need of financing to rely on credit cards or installment loans.
“Much of B2B eCommerce is still managed in archaic, outdated ways – the sector needs its tech moment in order to fully reach its potential. Resolve’s ability to power automated payment approvals and terms will help deliver on this promise of adoption and scale.”
– Max Levchin, CEO, Affirm
Resolve is an easy to deploy and completely risk-free automated platform for net 30, 60 and 90-day payment terms. Buyers complete a simple application customized for their business type and size. Resolve then analyzes applications in combination with nontraditional commercial underwriting data such as purchase history to approve extended payment windows.
Resolve assumes all repayment risk, enabling companies to offer risk-free extended payment terms without ever having to manage customer billing or collections. Buyers pay 0% interest if accounts are repaid within the agreed-upon terms. Suppliers receive full payment, minus fees, as soon as an order is placed.
Resolve payment plans are offered at sub-credit card fees and can easily be integrated into both offline and online sales channels.
Resolve was developed by serial entrepreneurs Chris Tsai and Brian Nguyen. After selling their prior e-commerce and payments company to Indiegogo, they collaborated closely with Max Levchin’s Affirm and HVF teams to build an automated financing solution for B2B eCommerce that has now spun-out to become Resolve.