⚡ Introducing Slope Pay Now
After going live with Buy Now, Pay Later for B2B in August 2021, Slope has grown tremendously — in 2022, we’ve been doubling revenue and volume on average every 2.5 months. We recently announced our $125M debt facility led by Silicon Valley Bank, coming off our $24M Series A last year.
It has always been our goal to build butter for B2B payments. We started with Buy Now, Pay Later for businesses and were laser-focused on delivering this capability as it is table-stakes in facilitating B2B transactions.
For merchants, we enable them to be competitive with offline suppliers who offer traditional net terms. BNPL is instrumental in increasing every important metric: AOV, GMV, conversion rate, buyer acquisition, and retention. For buyers, we offer float, flexibility, and transparency at lightning speed — offering a fast 10–30 second payment experience, where we pull data automatically and underwrite them instantly.
After a year of working with B2B businesses, we saw first-hand the existing pain-points our customers faced with legacy B2B transactions. Hundred million dollar businesses hire large finance teams to reconcile invoices and perform collections, wholesalers accept manual wires and checks that take 7–10 days to hit accounts, and tech-forward platforms manually create multiple invoices to accept milestone payments.
These challenges and others exist as legacy B2B payment solutions have inefficient, lengthy, and painful integration processes, while newer alternative solutions do not support B2B-focused workflows. And so, we set out to build a product that allows businesses to seamlessly handle online payments.
Introducing Pay Now
After being in beta, we are excited to publicly announce the launch of Pay Now, enabling the most frictionless way to accept payments from businesses.
Say goodbye to painful and manual reconciliation — B2B merchants can integrate Pay Now in minutes to accept credit card, ACH, and cross-border payments in a sleek UX or utilize our offline workflows. Other features include same-day ACH, milestone, and custom schedule payments.
Pay Now Features
Cross-Border
Starting with Mexico, businesses can now accept payments in MXN and be paid out in USD without any hassle. We plan to expand to additional countries and support more currencies in the future to help handle all your foreign exchange needs.
Offline Invoice Links
We understand that not every B2B business is ready to fully transition to online payments, so we’ve built a solution that bridges the gap. Merchants can easily send their clients offline invoice links that allow them to pay by card or bank transfer.
Same-day ACH
Traditional payment providers can take 7 days or more to settle transactions, but with Pay Now, businesses can get same-day access to their funds. Merchants can quickly payout their suppliers or solve working capital issues.
Milestone / Custom Invoices
We want to make it easy for businesses to set up future billings and accept payments in installments, in accordance to milestones or specific terms agreed upon with their customers. This can be especially useful for businesses that need to do progress invoicing or collect payments over time.
Guest Checkout
With guest checkout, businesses can easily accept payments from new customers without requiring them to create an account or enter their billing information.
B2B Checkout
With the launch of Pay Now, we’re excited to offer merchants a complete B2B checkout experience. This consolidates all of our payment capabilities into a single, flexible infrastructure, making it easy for businesses to accept any type of payment. With a range of payment options available and the ability to handle offline invoices, cross-border payments, same-day ACH, and more, the addition of Pay Now makes it easy to get paid and keep your business moving forward.
Getting Started
To get started with Pay Now, visit our API documentation at https://developers.slope.so/docs/getting-started.
To learn more, contact Alice at alice@slope.so or schedule a call with her directly: https://calendly.com/alice-deng/paynow.
Learn more:
We believe that Pay Now will be a game-changer for B2B payments, and we’re excited about taking one step closer to our mission of bringing the world’s B2B economy online. ⚡
