Balance Named BigCommerce Certified Partner

Rhea-AI Summary

Balance has been named a BigCommerce Certified Technology Partner, enabling tens of thousands of BigCommerce merchants to access digital B2B payment solutions. This integration, available from today, allows merchants to offer streamlined self-service payment options through the BigCommerce App Marketplace. According to a Balance survey, 53% of B2B customers would switch ecommerce sites due to slow payment approvals, emphasizing the need for efficient payment solutions. Additionally, Balance reports that alternative payment options can double average order sizes and reduce overhead costs by 85%.

Positive

• Partnership with Balance enhances payment processing capabilities for BigCommerce merchants.
• Integration reduces overhead costs for merchants by 85%.
• Alternative payment options can potentially double average order sizes.

Negative

• None.

Balance offers all-in-one B2B financing and checkout to help BigCommerce’s fast-growing merchants scale ecommerce payments

NEW YORK--(BUSINESS WIRE)-- Balance today announced it has been named a BigCommerce Certified Technology Partner, providing tens of thousands of BigCommerce merchants with access to digital and self-serve B2B payments. Beginning today, BigCommerce customers can integrate Balance through the BigCommerce App Marketplace.

“Our goal has always been to enable online trade for businesses. Digital and automated credit options, payment methods, invoicing, and reconciliation are essential to that. Our partnership with BigCommerce makes these capabilities easily accessible to any BigCommerce merchant selling online,” said Bar Geron, co-founder and CEO of Balance. “Partnering with leading ecommerce platforms like BigCommerce are crucial to how we help solve the challenges B2B merchants face. We’re excited about what this continued partnership represents the next generation of commerce solutions for B2B brands.”

“Real commerce is catering to how the buyer wants to pay, each time. It’s about making it easy for them to do their procurement, every time. Sometimes that will mean paying via check, other times wire, other times debit, or on net terms. That means looking for more options and ways to enhance the checkout that have not previously existed in B2B ecommerce. That’s where Balance and BigCommerce can make a real difference,” said Sean Last, Head of Partnerships.

According to a recent Balance survey, 53% of B2B customers stated that slow or lengthy approval for payment terms would be the top reason to change to another ecommerce site and 73% of B2B customers would abandon their purchase if they experienced friction at the checkout. With conversion and loyalty on the line, payments cannot be left as an afterthought.

Further, Balance’s own internal data shows that providing alternative payment options and net terms can more than double average order sizes. Balance customers have also been able to cut overhead costs by 85% and rather than wait weeks to get paid, receive full payment in a matter of seconds.

For customers leveraging our integrations, we’ve seen the average implementation time be within 2-3 hours, enabling them to offer a quick and effective way to qualify new customers for net 15, 30, 45, or 60 purchases, directly on their site. Plus, with branded invoicing and checkout, merchants have the opportunity to create a truly seamless, trustworthy, and non-disruptive experience to the relationship they have with their current and future customers.

“Our partnership with Balance further illustrates our commitment to providing merchants access to the highest-caliber technologies and service providers available in the industry,” said Russell Klein, chief commercial officer for BigCommerce. “Balance shares our desire to help merchants sell more and grow faster to maximize success, and we look forward to working together to mutually support customers.” Click here to learn more about how to get started with Balance and BigCommerce.

BigCommerce Certified Technology Partners are selected for offering best-in-class technologies, value and superior customer service. For more information, visit: https://www.bigcommerce.com/apps/

About Balance
Balance is the first self-serve digital checkout experience company for B2B businesses. By leveraging payments and risk-assessment technology, any B2B company that sells goods online can now offer their buyers a wide range of payment methods (ACH, Card, Wire, and Checks) and flexible payment terms, and get paid easily and instantly — all in one place. For more information, please visit https://www.getbalance.com/ or follow @GetBalanceHQ on Twitter.

About BigCommerce
BigCommerce (Nasdaq: BIGC) is a leading open software-as-a-service (SaaS) ecommerce platform that empowers merchants of all sizes to build, innovate and grow their businesses online. BigCommerce provides merchants sophisticated enterprise-grade functionality, customization and performance with simplicity and ease-of-use. Tens of thousands of B2C and B2B companies across 150 countries and numerous industries use BigCommerce to create beautiful, engaging online stores, including Ben & Jerry’s, Molton Brown, S.C. Johnson, Skullcandy, Solo Stove, Ted Baker and Vodafone. Headquartered in Austin, BigCommerce has offices in London, Kyiv, San Francisco, and Sydney. For more information, please visit www.bigcommerce.com or follow us on Twitter, LinkedIn, Instagram and Facebook.

BigCommerce® is a registered trademark of BigCommerce Pty. Ltd. Third-party trademarks and service marks are the property of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230130005213/en/

Morgan Borer

balance@bevelpr.com

Source: Balance

FAQ

What does the partnership between Balance and BigCommerce entail?

The partnership provides BigCommerce merchants access to digital B2B payment solutions, enhancing their payment processing capabilities.

How can BigCommerce merchants benefit from Balance's services?

Merchants can implement efficient self-service payment methods, which can reduce costs and increase average order sizes.

What survey findings support the need for improved payment processes in B2B ecommerce?

A Balance survey found that 53% of B2B customers would change sites due to slow payment approval times.

What are the expected outcomes of integrating Balance for BigCommerce merchants?

Expected outcomes include quicker payment processing, reduced overhead costs, and potentially doubled average order sizes.