Payer lets B2B ecommerce companies verify new customers easily

Payer, a fintech company from Sweden, has launched a new product that should change customer registration in B2B ecommerce. The new product, yet to be named, lets ecommerce merchants verify new customers, so they can easily make their purchases.

Payer says the new sign-up products allows B2B ecommerce companies to trust new customers and let trusted customers buy with ease. Today, the company has launched a beta test program with several B2B merchants in Sweden. “As one of the most progressive ecommerce and fintech markets in the world, Sweden is a great test market for the beta phase”, the company says.

Sweden is a great test market for the beta phase.

The Swedish startup is known for its modular B2B payments platform, and now it wants to improve the buying experience in the business-to-business industry. According to founder and CEO Peder Berge, expectations for a better experience are clearly driven by consumer-centered apps and software we know from the B2C industry.

Product recognizes customers at checkout

“Payer is determined to lead the development of the end-to-end payment chain for B2B”, Berge comments. “Our new product solves the conversion and onboarding of new customers for merchants, as well as recognizes recurring customers at checkout.”

‘Invoice payments are not user-friendly’

Currently, it’s estimated that 90 percent of B2B purchases worldwide are made with invoice payments. It’s a solid solution for companies, as accounting and tax-related information follows with each invoice. “But it’s still not fully digital and user-friendly. Most of the manual processes both on the customer and merchant end of a purchase should be effectively removed. This product does exactly what both target groups are looking for”, Johanna Stridsberg, product owner at Payer, says.

90 percent of B2B purchases worldwide are made with invoice payments.

Initially, Payer will only beta test in Sweden. The recruitment ends this month, while the test period will run through February next year.