Member Exclusive

‘$130 trillion of global B2B trade is coming online’: Balance looks to digitize payments for B2B ecommerce

  • Balance claims it’s the first ecommerce payments platform that’s custom-built for B2B merchants and marketplaces.
  • The firm aims to facilitate the digitization of B2B trade through its payments infrastructure.
close

Email a Friend

‘$130 trillion of global B2B trade is coming online’: Balance looks to digitize payments for B2B ecommerce

B2B ecommerce has seen rapid growth in the recent past. A growing number of B2B ecommerce marketplaces have started to emerge, speeding up the digitization of business-to-business trade. This trend has gained further momentum through the pandemic: in the last year alone, sales on B2B ecommerce websites in the U.S. grew by 10% to reach $1.4 trillion.

The rapid growth of B2B ecommerce platforms has been accompanied by an increasing demand for dedicated payments solutions to help ensure a smooth online checkout experience for B2B customers.

This is where Balance comes in. The Israeli startup claims it’s the first B2B ecommerce payments platform that offers a consumer-like checkout experience for merchants and marketplaces. Balance offers flexible payment terms and gives buyers various payment options including credit card, ACH, wire transfer, and check. It also enables merchants to receive their payments instantly.

Balance co-founders Bar Geron and Yoni Shuster previously worked as senior decision scientists at PayPal, where they saw the struggles of B2B merchants who were unable to transition to the digital space because of outdated payments infrastructure. As time went on, Geron and Shuster realized there was a growing need for a dedicated payments solution for the digital B2B checkout experience. This led to the birth of Balance in 2020.

 


This content is available exclusively to Tearsheet Outlier members.

Tearsheet Outlier information and signup Missing out? Subscribe today and you’ll receive unlimited access to all Tearsheet content, original research, exclusive webinars and events, member-only newsletters from Tearsheet editors and reporters and much more. Join Outlier now — only $49/mo. Already an Outlier member? Sign in to your account

0 comments on “‘$130 trillion of global B2B trade is coming online’: Balance looks to digitize payments for B2B ecommerce”

Member Exclusive

With Extend partnership, Amex wants SMBs to create more virtual cards

  • American Express has teamed up with Extend to launch a virtual card solution for its small business customers.
  • Virtual cards provide security and flexibility for SMBs and can help them improve cash flow.
Ismail Umar | October 12, 2021
Member Exclusive

Buy now, regret later? The tricky relationship between BNPL and credit ratings

  • As BNPL use has surged through the pandemic, consumers’ credit scores have taken a significant hit.
  • Research shows more than a third of BNPL users have fallen behind on their payments and hurt their credit score.
Ismail Umar | October 05, 2021
Member Exclusive

The strange connection between horoscopes and financial advice

  • A person’s horoscope may not determine their future wealth, but a propensity to read their horoscopes might.
  • A survey by N26 found that quite a few US adults count on their horoscopes for financial guidance here and there.
Rivka Abramson | September 28, 2021
Member Exclusive

‘There’s a two-sided integration going on between fiat and crypto’: How banks are gearing up to move into digital currencies

  • Many banks are starting to incorporate digital assets into their services.
  • Further adoption will depend on how federal agencies perceive and regulate the large-scale use of cryptocurrencies.
Ismail Umar | September 24, 2021
Member Exclusive

Cheat Sheet: What’s going on behind Goldman Sachs’ acquisition of BNPL GreenSky?

  • Goldman Sachs has acquired BNPL firm GreenSky for $2.24 billion, with the transaction expected to finish by Q4 2021 or Q1 2022.
  • GreenSky's platform and team will be integrated with Marcus by Goldman Sachs.
Subboh Jaffery | September 21, 2021
More Articles