PastPay offers a Buy Now Pay Later (BNPL) solution for B2B transactions, allowing merchants to receive payments instantly while providing their customers with flexible payment terms of 15 to 90 days. This approach enhances cash flow for businesses and enables buyers to manage their liquidity, ultimately increasing average order values and sales volume.
Funding
$13.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many B2B merchants face challenges with cash flow due to delayed customer payments, while buyers often need more flexible payment terms to manage their liquidity effectively. Traditional payment methods can strain the financial resources of both parties, hindering growth and potentially leading to lost sales opportunities.
Solution
PastPay offers a Buy Now, Pay Later (BNPL) solution tailored for B2B transactions, enabling merchants to receive immediate payments while extending payment terms of 15 to 90 days to their customers. This system enhances cash flow for merchants, reduces the risk of non-payment, and allows buyers to better manage their finances. PastPay integrates into existing sales processes, providing a seamless payment experience for both online and offline transactions. The platform handles risk management and buyer qualification, allowing merchants to focus on growth and expansion, including international commerce with multi-currency support.
Target Audience
PastPay primarily targets B2B merchants seeking to improve cash flow and increase sales, as well as B2B buyers who require flexible payment terms to manage their liquidity and purchasing power.
Features
- Instant payment to merchants upon transaction, regardless of customer payment terms
- Flexible payment terms ranging from 15 to 90 days for B2B buyers
- Automated invoice financing and management
- Risk assessment and buyer qualification at checkout
- Integration with online webshops and direct sales channels (phone, email, in-person)
- Support for multi-currency transactions, facilitating international commerce
- Centralized portal for managing payments across multiple channels