HomeRoots Partners With Balance to Bring Consumer-Like BNPL for Retail Customers
NEW YORK–(BUSINESS WIRE)–HomeRoots, a B2B e-commerce furniture and home decor marketplace platform, announced today that its payments solution will be powered by Balance, the leader in B2B payments specializing in financing and ecommerce. This partnership with Balance will allow HomeRoots’ customers to check out with terms at the click of a button.
HomeRoots’ online platform is a curated collection of furniture and home decorative products from all over the world that are in stock and ready to ship to your store or customer at the click of a button. Their customers range from interior designers and hospitality projects to small and large e-commerce/brick and mortar retailers. HomeRoots mission is to offer an unparalleled breadth of assortment at competitive pricing and to make the B2B online shopping experience as easy as the B2C online shopping experience.
“B2B payments and net terms are a bottleneck to ecommerce growth. To truly grow in the digital space, merchants need to facilitate payments and financing for a wide variety of needs, across different channels,” said Bar Geron, co-founder and CEO of Balance. “We love to work with industry leaders like HomeRoots that are committed to providing a quality B2B online shopping experience.”
According to a recent survey published by Balance, 53% of buyers stated that slow or lengthy approval for payment terms would be the top reason to change to another ecommerce site. Why? Trade credit via net terms is a standard in B2B purchasing. But now more than ever, business buyers demand and deserve a quick and easy way to get terms straight from the checkout. In order to make it easier for buyers in the furniture retail industry to conduct business online, HomeRoots knew they needed to upgrade their payment experience. By partnering with Balance, customers are able to pay online with flexible payment options that include Credit Card, ACH Bank Debit, and Wire. Plus, following a short qualification process, customers can enjoy instant access to net terms, while merchants get paid instantly.
“Balance allows us to bring the next evolution of flexible financing options to our customers” said Diane Narwid, VP of Merchandising from HomeRoots. “We established HomeRoots because we felt that there was a void in B2B competitive drop ship options that would deliver new and fashionable products to our customers quickly and easily. Balance is helping us continue on that journey by making the purchasing process easier and more flexible with multiple ways to finance each order. “
According to McKinsey, 65% of B2B companies complete all of their transactions online. Unfortunately, most of these payment experiences are far from perfect. Customers have to phone-in their orders, request a quote, fax over an invoice, etc. But with more than 80% of business buyers holding their ecommerce channel to the same or higher standard as other channels, B2B commerce is long overdue for an upgrade.
“B2B payments are a bottleneck to ecommerce growth. To truly grow in the digital space, merchants need to facilitate payment terms in a scalable way and in a way that is as convenient as the experience we know in the consumer world,” said Bar Geron, co-founder and CEO of Balance. “We love to work with industry leaders like HomeRoots that are committed to providing a quality B2B online shopping experience.”
This partnership will play a valuable role in allowing HomeRoots to be the go-to platform for the B2B online sales of furniture and home decor products.
About HomeRoots
HomeRoots is the market leader in B2B sales of Furniture, Home Decor, Rugs, & Lighting products. We pride ourselves in having a large breadth of assortment that can furnish essentially every room in the home – including outdoors! We offer an ever-growing e-catalog of products with over 50,000 products IN STOCK and ready to ship to your location or direct to your customer. We have no minimum order, excellent customer service 7 days a week, and on-line ordering 24/7. We offer a wide range of fashionable and affordable wholesale furniture and home items to the trade including: Designers, Home Stagers, Brick & Mortar Retailers, Hospitality and E-commerce sites. For more information, please visit https://www.homeroots.co/
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.
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Claire Kerr
balance@bevelpr.com