Hokodo launches Shopify plug-in to offer trade credit to customers

By Leandra Monteiro

B2B Buy Now, Pay Later provider Hokodo announced a new plug-in for the multinational e-commerce platform Shopify. This integration will enable B2B merchants with a Shopify webstore to offer instant credit terms to their limited company and sole trader buyers while getting paid upfront and remaining protected from the risk of non-payment and fraud.

This integration positions Hokodo as the only viable choice for Shopify’s B2B merchants who want to offer customers the ability to defer payment by up to 60 days. The plug-in is available to Shopify merchants operating in the UK, France, Spain, Belgium and the Netherlands.

“Our new Shopify integration has been designed with the merchant experience in mind and can be installed in just a few steps with no development work required,” said Sami Ben Hatit, Hokodo’s co-founder and CTO. “This will be welcome news to SME merchants who don’t have the technology resources to spare for several weeks long integration.”

Sellers who offer Hokodo’s deferred payment solution at the checkout have seen an uplift of 40% in conversion rate and a 30% increase in basket size. Meanwhile, business customers benefit from the opportunity to ‘buy now, pay later’ on their purchases, ultimately promoting healthier cash flow for both parties.

The customer pays Hokodo back in line with their payment terms, while the merchant receives upfront payment when delivery of the goods is confirmed. Hokodo handles the collections process, and thanks to backing from Lloyd’s of London, merchants are always protected against non-payments.