View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
April 24, 2019

Resolve spins out of Affirm to unveil automated payments platform

Resolve has spun out of Affirm, a company started by PayPal co-founder Max Levchin, to introduce an automated payments platform for B2B commerce with extended net terms.

Developed by entrepreneurs Chris Tsai and Brian Nguyen, the Resolve platform incorporates a buy now and pay later approach.

The payment terms can be for 30, 60 and 90 days.

In order to authorise extended payment windows, Resolve evaluates financing applications with nontraditional underwriting data.

Suppliers are offered full payment once the order is placed.

On the other hand, no interest is charged from buyers if they repay accounts as per the agreed terms.

All repayment risk is taken up by Resolve.

The company believes traditional B2B financing to be slow and inaccurate owing to dependence on email, call centres, faxes, and manual invoicing.

According to Resolve, its automated platform significantly boosts B2B sales as well as supports faster sales cycles.

In this context, the company cited Forrester Research that forecast B2B eCommerce to reach over $1.8 trillion by 2023.

Affirm CEO Max Levchin said: “Much of B2B eCommerce is still managed in archaic, outdated ways – the sector needs its tech moment in order to fully reach its potential.

“Resolve’s ability to power automated payment approvals and terms will help deliver on this promise of adoption and scale.”

 

 

Topics in this article: ,
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU