Opyn brings “buy now pay later” to Italy for small and micro companies
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The “buy now pay later“In the formula business-to-business, designed for companies, in particular to allow small and micro companies to have an alternative financing solution at hand for their daily needs and supplies. The philosophy is the same as that of the BNPL, the instant installment financing formula for consumer purchases that has been so successful in recent years also in Italy.
Now Opyn, the fintech specialized in digital lending to businesses, has decided to ride the solution from a B2B perspective.
The scheme remains the same. The small business, the craftsman or the professional who has to make the purchase for his work can access the payment in three installments, the first immediately, the second at 30 days, the third at 60, in a simple way, at the time of merchant payment.
The service can be used for both digital and physical purchases in the store, through the Pay by link system. The seller receives two thirds of the amount immediately thanks to Opyn’s coverage and the balance at 60 days. For its part, fintech uses the technological capacity and experience gained in the world of corporate credit, especially as regards the analysis of credit risk, but also of potential fraud.
Opyn Pay Later is the first service in Italy of “buy now pay later”Aimed specifically at the business world, a sector in which only a few players are active, all concentrated in north-western Europe, so much so that fintech has conceived the offer from an international perspective. «The BNPL has no particular regulatory constraints in Europe to date, while the credit market is still very fragmented by individual countries, at the level of regulations and processes. This is why we are thinking of a European-wide distribution starting from 2023 with some pilot countries ”, says Antonio Lafiosca, Opyn’s chief operations officer.
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