MSTS, a global B2B payment and credit solutions provider, has reached a partnership agreement with Arcadier, a marketplace Software as a Service marketplace builder.
The partnership provides an additional payment option on Arcadier marketplace through MSTS’ Credit as a Service (CaaS) solution.
B2B marketplaces continue to rise in popularity and CaaS allows sellers to provide buyers with the frictionless purchasing experience and their preferred payment method, an invoice. InvoiceMe, a tool within Credit as a Service, allows buyers to pay by invoice at checkout. It simplifies onboarding, and approves credit decisions in under 30 seconds.
Offering InvoiceMe as a payment option leads to an increase share of wallet and average order size.
“We’ve seen a growing demand for diverse payment solutions from B2B marketplace managers, particularly those in the manufacturing space,” said Brandon Spear, President at MSTS. “MSTS is proud to provide Arcadier marketplace managers with the technology needed to better serve their global customers. We look forward to expanding Arcadier’s buyer-first approach to the payments process.”
A next-generation B2B experience
As the next generation of the B2B experience comes into focus and instances of spot procurement rise, credit has become an integral piece of the marketplace.
Consequently, sellers in the space seek to offer more sophisticated payment types to buyers. The partners say this partnership will do exactly that. They say it will expand marketplace payment options to increase conversion rates and average order value. The partnership will also help free up the working capital necessary to operate in the space, MSTS said in a release.
“When searching for a provider, we needed a company that could streamline the user experience on the payments front,” said Ken Low, co-founder and CCO of Arcadier. “MSTS’ easy-to-use CaaS technology was a natural fit, simplifying cash-flow for sellers and increasing buyer loyalty while strengthening Arcadier’s marketplace infrastructure.”
MSTS integrates its solution into the Arcadier digital ecosystem, accelerating business commerce as a solution of applications and managed services. CaaS is available on Arcadier’s APIs Growth, Scale and Enterprise package tiers.