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Jessica Nemeth: We created an attractive win-win product whereby merchants and marketplaces offer flexible payment terms that grow their own sales and satisfy their customers’ liquidity needs.

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Can you share the story behind the inception of Terms.Tech and what motivated you to focus on B2B payment solutions?

Terms.Tech is a TradeTech innovation product founded by AREA42, the innovation lab of Credendo, leaders in trade credit insurance for over 100 years. AREA42’s mission, and therefore Terms.Tech’s mission, is to create a smooth and risk-savvy B2B trade environment. We see in the B2C space the rapid evolution of customer experience in payments, and created Terms.Tech to offer the same advantages in B2B platforms.

How do we do this? We enable SMEs to quickly and conveniently obtain the trade finance they need to conduct their business efficiently, manage their cash flow effectively, grow and thrive. We have created an attractive win-win product whereby merchants and marketplaces offer flexible payment terms that grow their own sales and satisfy their customers’ liquidity needs.

What do you believe sets Terms.Tech apart from other B2B payment solution providers, especially in the context of the European market?

Considering the European market, the first differentiator is our geographic reach. We are uniquely available throughout the entire EEA and even Switzerland. What else? Beyond that, we offer payment terms of up to 120 days – other B2B BNPL services tend to max out at 90 days, or even less in some cases. We pay the seller in full immediately on proof of delivery – we’re a true Buy Now, Pay Later service; not factoring in disguise. The risk falls 100% on us and because of this we remove the stress of payment collection and late payment issues from our customers. We really do de-risk a merchant or marketplace’s operation.

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Reflecting on your journey, what pivotal moment or decision do you think significantly propelled Terms.Tech forward?

We originally imagined Terms.Tech as a payment solution integrated into the online checkouts of B2B webshops.We quickly realised we needed our product to meet our customers at the point of sale, which in B2B is often not an online checkout. We created a stand-alone order platform that our customers can use from anywhere they happen to be, in-store, at an event, on the road or visiting customers onsite. Our customers have responded very favourably to our platform solution, and their feedback keeps us in a fruitful cycle of ongoing innovation.

Terms.Tech offers a range of payment solutions, including Buy Now, Pay Later (BNPL) options. How do you ensure these services are accessible and beneficial to all sizes and types of businesses?

  • For small businesses and businesses with multichannel sales, our hosted self-service solution is ideal. It requires no integration and is available wherever there is access to the internet.
  • For larger businesses and the tech-savvy enterprises out there, we offer an easy-to-integrate package of REST APIs. Combined with the support of our customer success team, our customers are able to optimise processes and customise user experiences.

Looking at the industries you serve, from agriculture to shipping & logistics, how do you tailor your payment solutions to meet the unique needs of these diverse sectors?

The main point here is that Terms.Tech can be used in just about any industry or vertical. For us, it’s not so much about tailoring our payment solutions to each industry, but instead tailoring our services to each customer as much as possible – to meet their particular needs so that, in turn, they can provide payment terms to their customers. We co-explore the customer journey with each of our new merchant or marketplace customers, to ensure the flow aligns with their expectations for service delivery and technical integration.

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Considering the rapid evolution of digital payments, what are some of the innovative features or technologies Terms.Tech is looking to integrate in the near future?

There are so many regulatory changes occurring now and in the near future. For example, the AI Act, PSD3/PSR, the evolution of the Late Payments Directive into a new regulation, just to name a few. These will have a considerable impact on businesses across Europe. Huge changes impacting how businesses invoice customers and collect payments. Terms.Tech aims to make the adoption of regulatory compliant services simple and cost effective, even when offering cross-border services.

Where do you envision Terms.Tech in the next five years, especially regarding geographical expansion and product offerings?

Terms.Tech is already available across the EEA and Switzerland, but we don’t plan to stop there! We’re actively exploring opportunities to expand our footprint globally. Our product offerings will remain focused on helping businesses grow through flexible payment services that adapt to their business model, rather than requiring them to adapt to a provider’s inflexible architecture and policies. The most exciting part is that we may be offering payment services six months or a year from now that don’t even exist yet – that’s the fun of innovating.

Finally, what advice would you give to startups looking to innovate in the financial technology space, drawing from your experiences with Terms.Tech?

Draw the boundaries of where you want to innovate, as well as defining what is out of scope. Make sure your scope is reasonable given your resources. Get in touch with as many relevant companies as possible – find out what their pain points are to make sure you’re innovating solutions that matter. Then get started testing, failing, learning and improving. And, keep talking to relevant businesses. Learn how to ask the right questions. Listen more than you talk. Become a master of competitive research. And since this is advice specific to the fintech space, make sure you know the relevant regulations!

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