PastPay is a regulated financial service provider offering deferred payment terms through factoring, more commonly known as ‘Buy Now Pay Later’ for B2B merchants in EU countries.

B2B Buy Now Pay Later is a form of financing used in business-to-business transactions. It allows corporate buyers to pay 15-90 days later for their purchase, while the merchant immediately receives the purchase amount at the time of the fulfillment.

During the checkout process, B2B customers have the option to pay later (within 15-90 days) through PastPay. Once the ‘Buy Now Pay Later’ (BNPL) option is selected, our proprietary algorithm analyzes the buyer within 2 seconds and provides feedback on their eligibility for using PastPay. After the fulfillment is completed, PastPay processes the payment by transferring the purchase amount to the seller, deducted by the PastPay service fee.

PastPay’s system supports businesses in all European Union countries, Switzerland and the UK, and the service is available in the EU, in Switzerland and in the UK.

Merchants that meet the following criteria will benefit the most from using PastPay BNPL, who:

– operate in B2B market;

– have business buyers requiring flexible payment terms;

– have business buyers who are frequently late with their payments;

– want to minimize administrative workload and reduce risks of non-payment;

– want to maintain or improve their financial liquidity;

– want to offer favorable payment terms for their corporate customers.

Yes, it is. Since there is no minimum amount requirement when using PastPay, B2B customers can purchase with BNPL for any amount within their allocated spending limit with PastPay.

The PastPay BNPL payment method comes with numerous benefits for B2B merchants:

– increase in the average cart value;

– improving the conversion rates;

– timely incoming revenues;

– reducing administrative tasks;

– reducing or even eliminating non-payment risk;

– enhancing liquidity;

– improving cash flow;

– automatic invoice financing;

– International expansion opportunities;

– providing outstanding customer experience and favorable payment terms for B2B buyers;

– growing customer loyalty and purchasing willingness.

By implementing PastPay BNPL, merchants can potentially outsource the risk of non-payment. In this case, once we approve the payment of a corporate buyer, all responsibility lies with PastPay. During the contract negotiation process, we discuss this aspect.

PastPay enables B2B customers to pay later for the purchased items while sellers receive immediate payment upon fulfillment. With PastPay BNPL service, merchants can offer extended payment terms from 15 to 90 days to their corporate buyers. The payment deadline will be determined in the contract between the merchant and PastPay.

There is no minimum purchase amount when using PastPay. Corporate customers can pay for purchases of any amount within their allocated spending limit with PastPay.

When paying with PastPay, our algorithm analyzes the buyer within 2 seconds. Based on this analysis, our system determines a maximum limit the buyer can use for PastPay BNPL. If the total purchase amount exceeds this limit, the BNPL payment method won’t be available to the customer.

It’s also possible that the total amount of multiple purchases exceeds the maximum spending limit. In such cases, the PastPay payment method won’t be available to the customer until they settle their balance.

Once the purchase is fulfilled and the invoice is issued and submitted to PastPay, PastPay will pay the invoice to the merchant within 24 hours. Depending on the level of integration, the invoice is uploaded to the PastPay system either automatically or semi-manually.

The merchant issues the invoice for the purchase, just like with other payment methods. When using the PastPay B2B BNPL payment method, technically, the merchant ‘sells’ the invoice to PastPay. Payment is processed upon purchase fulfillment, based on the invoice submitted to the PastPay service provider.

Invoice management can be semi-manual or fully automated depending on the integration level. The integration is determined by the sales channels used and the type of webshop engine.

By implementing PastPay BNPL, merchants can potentially outsource the risk of non-payment. In this case, once we approve the payment of a corporate buyer, all responsibility lies with PastPay. During the contract negotiation process, we discuss this aspect.

The PastPay Portal is a platform where merchants can track the entire payment process, from customer analysis to invoice management. They can conveniently manage all their customers with their associated limits, invoices, and purchases in one dashboard.

The PastPay Portal offers the perfect hybrid solution, allowing merchants to sell simultaneously through phone, email, in-person, or multiple channels.

The PastPay App is a platform tailored for corporate buyers. Within this platform, users can access their PastPay purchase history, available spending limits, and ongoing payments. This centralized system enables the buyers to easily monitor upcoming payment deadlines and prevent any payment delays.

How much does PastPay’s service cost for merchants?

After each PastPay transaction, we charge a certain pre-defined percentage to the merchant. This rate depends on various factors (such as B2B turnover, customer composition, assumption of non-payment risk, etc.) and it’s documented in the contract between the merchant and PastPay.

Our algorithm reviews multiple financial metrics and available company information to make the decision. If the algorithm analyzes the purchasing company positively based on the available information, we can approve PastPay BNPL as a payment option for them.

When a business customer pays with PastPay, we need the following information:

– buyer company tax ID;

– total purchase amount;

– contact details of the buyer

Furthermore, during the first purchase, for customer identification purposes, the buyer has to go through a brief, automated process that can be completed independently by the company’s authorized representative or delegate.

When the B2B buyer selects the PastPay payment method at the checkout, the system automatically updates the invoice with the new payment details. After making a purchase, the customer will receive an email too with information about the payment details and further actions needed.

After the payment deadline expires, the PastPay BNPL option won’t be available to the customer until the outstanding balance is settled. Once the customer has completed the payment, the PastPay BNPL becomes available again. Payment beyond the deadline will incur statutory late fees and flat-rate collection charges.

If the customer accidentally transfers a higher amount, they should contact the seller. PastPay also connects with the merchant in such cases and refunds the difference to the buyer or the merchant, depending on the circumstances.

PastPay determines a BNPL limit that can be used for multiple purchases. Therefore, if the total amount is within the available limit, the customer can continue to use PastPay for additional purchases up to the limit.

No, it isn’t. PastPay is exclusively for B2B (business-to-business) transactions, which means it’s only applicable when transactions are conducted between two businesses.

Yes, in this case, the PastPay BNPL payment option will only be available for business customers.

Shortly: The buyer can cover the expenses from their revenue.

Using the PastPay B2B BNPL enables customers to extend the payment deadline of their purchases by up to 90 days. As a result, the Buy Now Pay Later payment method improves cash flow, boosts liquidity, and enhances operational flexibility for the company.

You can offer PastPay to your corporate clients through several integration options depending on your sales channels and the webshop engine you use.

Here are the integration alternatives at your disposal:

– We provide plug-and-play extensions for WooCommerce, Magento, Shoprenter, Unas, and PrestaShop webshop engines. (More integrations are on the way.) If your webshop runs on a different platform, please inquire about tailored solutions by completing this form.
– PastPay can be seamlessly integrated via API for bespoke/ custom webshop developments or with engines lacking plug-and-play extensions.
– Should full API integration not be possible (e.g., off-webshop invoicing) or if you sell through diverse sales channels (e.g., phone, email, in-person), you can still offer BNPL to your B2B customers using the PastPay Portal.

Thanks to PastPay’s innovative solution, you can start offering BNPL services to your business customers within just 48 hours.

Click here to reach out to our expert, and we’ll assist you in discovering the best solution for your needs.

After you register, PastPay will contact you to discuss the details and provide a personalized proposal. After accepting the offer, you can sign the contract online, and the integration process can start immediately. Opting for a non-integrated start allows your corporate clients to begin using PastPay BNPL immediately following contract signing.

With the easy-to-use PastPay Portal, you can start offering BNPL service to your customers within 48 hours of signing the contract. Integration through plug-and-play or custom development takes only a few days. Our IT team is ready to support you during the integration process.

Please contact us via [email protected] to help you!

PastPay is a regulated financial service provider offering deferred payment terms through factoring, more commonly known as “Buy Now Pay Later” for B2B merchants in EU countries.

B2B Buy Now Pay Later is a form of financing frequently used in business-to-business transactions. It allows corporate buyers to pay 15-90 days later for their purchase, while the merchant immediately receives the order amount at the time of the fulfillment of the order. This option allows buyers to manage their cash flow flexibly while enabling merchants to receive the payment almost instantly – upon completion.

In the checkout process, customers have the opportunity to pay later (within 15-90 days) using PastPay. After selecting the BNPL (Buy Now, Pay Later) option, our proprietary algorithm analyzes the buyer within seconds and provides feedback on their eligibility for deferred payment. Once the customer has received the ordered goods, PastPay processes the payment by transferring the purchase price to the seller after deducting the PastPay service fee, ensuring a smooth payment process for both parties.

PastPay’s system supports businesses in all European Union countries, Switzerland ank the UK and the service is available in the EU, in Switzerland and in the UK. 

Webshops that meet the following criteria will benefit the most from using PastPay BNPL:

– customers are other businesses (operating in B2B);

– have business buyers with a need for flexible payment terms;

– have business buyers that are frequently late with their payments;

– want to minimize administrative workload and reduce risks of non-payment;

– want to maintain or improve their financial liquidity.

Indeed, there is no minimum limit when using PastPay. Your business customers can use PastPay’s Buy Now Pay Later option for any purchase amount within their limits.

PastPay BNPL has several benefits for merchants:

– increasing average cart value;

– improving conversion rates;

– receiving revenues on time;

– reducing administrative tasks;

– reducing or even eliminating non-payment risk;

– increasing liquidity;

– improving cash flow;

– providing outstanding customer experience for buyers;

– increasing customer loyalty and purchasing willingness.

Yes, with PastPay Buy Now Pay Later, you can increase basket value by up to 60%. Paying later boosts the willingness to pay and motivates the buyer to place bigger purchases. BNPL also allows the buyer to generate profit on the purchased products before settling the payment, creating growth opportunities on both sides.

PastPay will charge the merchant a pre-determined percentage on each PastPay transaction. The rate depends on several factors (B2B turnover, customer composition, willingness to bear non-payment risk, etc.) and will be defined in the contract between your business and PastPay.

There is an opportunity for the merchant to outsource the entire non-payment risk with the introduction of our service. In this case, once we approve the purchase of your corporate buyer, all responsibility can be taken over by PastPay. It will be discussed during the contract negotiation process.

There is no minimum purchase amount when using PastPay.

After analyzing the buyer, our system determines a maximum limit for the PastPay Buy Now Pay Later payment method. If the purchase amount exceeds the limit, PastPay won’t be available to finance the buyer.

PastPay allows your corporate customers to pay later for their purchases while you receive immediate payment for the order upon fulfillment. With PastPay BNPL, you can offer your corporate customers a payment deadline of 15-90 days. The precise payment deadline will be determined in the contract between your business and PastPay.

Invoice management can be either semi-manual or fully automated depending on the level of integration.

Upon order fulfillment of a purchase paid with PastPay BNPL, your company will send the invoice to PastPay (either automatically or semi-manually), and the payment will be issued based on the invoice.

Yes, the merchant needs to issue the invoice for the purchase, just as with any other payment option. Technically, the merchant ‘sells’ the invoice to PastPay. The merchant will then send the invoice to PastPay (either automatically or semi-manually, depending on the level of integration), and payment will be initiated based on the invoice. 

PastPay Portal is a platform where merchants can manage any part of their BNPL process, such as orders, invoices, deliveries, customers, buyer limits, and more. The Portal can also be used to manage the BNPL process if the merchants cannot integrate the API fully or the purchase happens outside of a webshop.

The PastPay App is a platform for corporate buyers who pay with PastPay, where they can view their PastPay purchase history and ongoing payments in one place.

Yes, you can also offer B2B BNPL to your offline buyers by using the PastPay Portal. If you don’t have a webshop, you can still request a quote on the https://pastpay.com/contact-us/ page, just enter ‘no’ in the field of ‘webshop domain name’.

Once the order is fulfilled and the invoice is issued, PastPay will pay the invoice within 24 hours.

PastPay will charge the merchant a pre-determined percentage on each PastPay transaction. The rate depends on several factors (B2B turnover, customer composition, willingness to bear non-payment risk, etc.) and will be defined in the contract between your business and PastPay.

Suppose the legal and financial situation of the company is adequate and has at least 2 completed financial years. In that case, we will positively evaluate the customer’s company and enable the PastPay BNPL payment option.

When a business customer pays with PastPay, we need the following information:

– tax number of the company,

– total amount of the purchase,

– contact info.

Furthermore, during the first purchase, the corporate buyer will need to go through a brief, automated process for customer identification, which they can easily complete on their own within a few minutes.

The customer doesn’t have to pay for using the PastPay BNPL payment method; it is free of charge for them as long as the invoice is settled within the payment deadline. In case of payment beyond the deadline, statutory late payment interest and collection flat fee will be applied.

When the customer selects PastPay as a payment method at checkout, the system automatically updates the invoice with the new payment details. We will also email the customer the necessary information and steps upon purchase.

PastPay is responsible for collecting the amount of the purchase from the customer. Once PastPay approves the given purchase, generally, all responsibility and risk belongs to PastPay. In other words, the merchant can outsource the risk of non-payment by introducing our service. PastPay BNPL will become unavailable for the buyer after the payment expires and will become available again once the buyer settles the amount. 

If the customer accidentally transfers a higher amount, it is common for them to contact the merchant. We will consult with the merchant whether we refund the amount directly to the buyer or to the merchant.

Each business customer is assigned a limit by PastPay, which can be utilized for multiple purchases. As long as the total purchase amount is within the limit, the customer can make several purchases using PastPay.

No, PastPay can only be used in B2B (business-to-business) commerce.

Yes, in this case, the PastPay BNPL payment option will only be available for business customers.

Shortly: You can pay your expenses from your revenue.

Using the PastPay payment method enables you to extend the payment deadline of your purchases up to 90 days. As a result, buy now pay later improves cash flow, increases liquidity, and enables more flexible terms, allowing you to potentially use your capital more efficiently elsewhere.

You can offer PastPay to your corporate clients through four methods. 

Firstly, you can start offering the BNPL payment option within 48 hours without integration, thanks to PastPay’s innovative platform. 

To integrate PastPay, you have the following two options to display BNPL in the payment options:

We provide plug-and-play extensions for WooCommerce, Magento, Shoprenter, Unas and PrestaShop webshop engines. (More integrations are on the way.) If you use a different webshop engine, please inquire about your personalized options by filling out this form.

Furthermore, you can integrate PastPay through the API if you have a custom webshop or use a webshop engine for which no plug-and-play extension is available. 

 If full API integration is not possible – e.g., invoicing happens outside of the webshop) or you are an offline merchant – you can still offer BNPL to your customers through the easy-to-use PastPay Portal.

Once you’ve registered, PastPay will contact you to discuss the details and provide a personalized offer. After accepting the offer, you can sign the contract online, and the integration process can start immediately. Launching without integration means your business customers can start buying with PastPay BNPL payment after signing the contract.

With the easy-to-use PastPay Portal, you can start offering BNPL service to your customers right after the contract is signed. With plug-and-play solution, the integration process takes less than 1 working day, while custom development may require only a few days for integration.

Our IT team is ready to support you during the integration process.

Please contact us via [email protected] to help you!