BioZoo.hu, a pet food and vitamin producer and wholesaler founded in 2017, operates its webshop on Shoprenter. The company sells to customers and corporate clients, with a 40-60 distribution of the B2C and B2B customers - meaning that it mainly sells its products to business clients.
Previously, sales activity focused on the local, Hungarian market, however, the company started to sell its products through Europe, Japan, South-Korea and Taiwan, recently. The long-term goal is increasing international sales, therefore the main focus is on stabilizing the company’s operation and establishing predictable revenue streams.
The production company first encountered PastPay's B2B 'Buy Now Pay Later' through Shoprenter’s integration. In fact, before expanding their export activities, the management believed that introducing BNPL could be a good opportunity for gaining a competitive advantage in the B2B market. Therefore they introduced the PastPay BNPL payment method to the checkout process of their webshop to head onto a more stable growth path by improving liquidity with instant collection and more flexible payment terms for clients.
After a brief consultation, they signed the contract, and following a few technical settings, business customers could start using PastPay Buy Now Pay Later on the biozoo.hu webshop. Corporate buyers now have the opportunity to pay later in 30 days for their orders; meanwhile, the merchant receives the purchase amount right after the fulfillment of the order.
Thanks to the BNPL payment method, the webshop can stabilize its operation due to predictable cash flow, while B2B customers' satisfaction increases due to more flexible payment terms. Therefore, it is visible that PastPay closely supports the company's goals for international expansion. In fact, PastPay's service is available in the entire EU, which could further boost the company's stable growth.
The results show that B2B customers who used the BNPL payment method purchased goods for an average of 10% higher cart value than those who used other payment methods. Moreover, clients using B2B BNPL are more motivated to purchase inventory as they can generate profit on the goods purchased by the extended (30 days) payment deadline, providing them with the necessary capital to fulfill the payment. Corporate customers using BNPL were more open to trying new or innovative products.
In addition to achieving predictable and stable operations, openness to innovation and increased willingness to purchase allow BioZoo to leverage such improvements in product development. Moreover, they gain a significant competitive advantage against other suppliers who offer upfront payments or provide a payment deadline of 5-8 days to their resellers.
“If your webshop runs on Shoprenter and has B2B buyers, I highly recommend implementing PastPay. It’s a win-win situation and you can increase your revenue even more than its cost. It's not even a question, I recommend it!”
Robert Somogyi
CEO
Best 4 you Kft. - BioZoo.hu
Pet Care
Corporate Gifts
