If you sell to business customers in Europe and want to offer flexible payment terms at checkout – invoice purchase, installment payment, or a revolving credit account – you need a B2B Buy Now, Pay Later (BNPL) provider.
But the market has changed significantly. Europe is now the world’s most mature B2B BNPL market outside the United States, providers have consolidated (including Hokodo’s exit in late 2025), regulatory requirements have tightened, and the differences between platforms matter more than ever. This guide compares the leading European B2B BNPL providers across the criteria that actually affect your business: products offered, markets covered, risk model, integrations, and fee transparency.
What Is B2B BNPL?
Buyer places an order
The buyer selects “Pay Later” at checkout (online / via Sales representative) and is approved in real time.
You’re paid upfront
The BNPL provider pays you immediately and assumes the default risk.
Buyer repays the provider
On the agreed terms (30 – 90 days net terms, or installments over 3 – 12 months).
B2B BNPL enables merchants to offer their business customers the possibility to defer or spread payments at checkout, while the merchants receive their funds upfront. Unlike consumer BNPL, B2B BNPL involves larger transaction sizes (often €1,000–€1,000,000+), longer payment terms (30 days to 12 months, depending on the product), more complex credit assessment, and full risk transfer to the provider.
Global B2B Buy Now,
Pay Later Market
Market forecast to grow at a CAGR of 17.1%
Source: PayNXT360, Global B2B BNPL Market Intelligence Databook, via Research and Markets
European B2B BNPL reached a gross merchandise value of $80.2 billion in 2025 and is projected to grow to $179.6 billion by 2030, at a CAGR of 16.7%.¹ Demand is driven by B2B buyers expecting the same seamless checkout experience they enjoy as consumers – Today’s B2B buyers are increasingly self-directed – more than 70% prefer digital self-service or remote channels over speaking with a sales representative.
BNPL encompasses a range of distinct financial products, not a single universal offering. Each product is best suited to specific buying patterns and customer types. Selecting the product that aligns with your customers’ purchasing habits is critical for maximising the value of your BNPL investment.
The three core B2B BNPL products are:
Invoice payment
Buyers pay by invoice within 30, 60, or 90 days – aligning payment with their cash flow.
Instalments
Buyers spread the cost of large orders over time, reducing financial strain per purchase.
Digital trade accounts
A running credit line with consolidated billing – no approval needed per order.
Invoice Payment (Net terms)
The buyer pays within 30, 60, or 90 days. The provider pays the merchant immediately and takes on 100% of the default risk. Best for: merchants with customers who make occasional or one-time purchases.
Instalment Payment
The buyer splits the total into fixed monthly payments over 3, 6, or 12 months. The merchant receives the full amount upfront. Best for: merchants selling high-value products where spreading the cost encourages the purchase decision.
Digital Trade Account
A revolving credit line with a single approved limit used across multiple orders. Buyers reorder without reapplying; a consolidated invoice is issued periodically. Best for: merchants with high repeat order rates and returning business customers.
What to Look for When Choosing a B2B BNPL Provider
Before comparing specific providers, it helps to understand the six criteria that separate good providers from great ones. These are drawn from Mondu’s own evaluation framework for merchants considering B2B BNPL.
Acceptance Rate
The percentage of your buyers approved for payment terms. Higher acceptance = higher conversion, AOV, and order frequency. What to check:
- Does the provider use real-time credit decisions?
- What is their published approval rate?
- Can they approve orders above €50,000?
- Top-tier providers maintain acceptance rates of 90% or higher and can approve up to €1,000,000 in real time.
Risk Protection
Most providers work on a non-recourse basis – they absorb 100% of the default risk. What to check:
- Is the non-recourse model genuine and contractually guaranteed?
- Does the provider have robust fraud detection and credit scoring?
- A provider that incurs excessive losses will eventually raise your fees or lower your approval rates.
Costs
Transaction fees typically range from 2 – 3.5%. What to check:
- Are there setup costs?
- Are all fees transparent upfront, including potential clawbacks?
- Is there a lock-in period?
Evaluate fees against the commercial uplift – higher conversion and AOV typically more than offset the transaction cost.
Integration
Your BNPL solution should work across online checkout, mobile, and offline channels without adding technical burden. What to check:
- Does the provider offer a native plugin for your e-commerce platform?
- Is the API REST-based with clear documentation?
- Is there a sandbox environment?
Integration should take days or weeks, not months.
Support
Often underweighted but critical to long-term success. What to check:
- Is there a dedicated account manager?
- How fast is technical support response time?
- Does the provider handle buyer-facing queries (invoices, disputes) directly, so your team doesn’t have to?
Licensing and Security
The gold standard is an EMI (Electronic Money Institution) licence, which allows providers to operate across multiple EU jurisdictions without relying on third-party fronting banks. What to check:
- Does the provider hold an EMI licence in every market they operate in?
- Are they ISO 27001 certified?
- Do they perform regular penetration testing?
The Best B2B BNPL Providers in Europe, Ranked
#1 Mondu – Best overall: pan-European, full product suite, EMI licensed, 91% approval rate
Mondu is a Berlin-based B2B payments provider (founded 2021) serving merchants across all of Europe, including the UK and Switzerland. Combining cutting-edge credit technology with J.P. Morgan’s financial backing, Mondu enables real-time approvals up to €1,000,000 under an EMI licence – and offers the broadest product suite in this comparison: Net terms up to 90 days, instalment payment options up to 12x, Digital Trade Account, and A2A instant payments for accepting payments; MonduCard for business purchases; and embedded invoice factoring for B2B platforms and marketplaces. Native plugins for Shopware and Shopify – alongside Magento, WooCommerce, JTL and a direct REST API – ensure fast integration without development overhead.
#2 Billie – Net terms provider for DACH and the Sweden
Billie is a Berlin-based B2B payment provider (founded 2016), operating in Germany, Austria, the Netherlands, Switzerland, France, and Sweden. It primarily offers Pay Later – net terms invoice purchase – available via REST API, PHP SDK, native plugins for Shopware, WooCommerce, and JTL, or through PSP integrations.
#3 Two – Focused on Nordic markets: guest checkout, marketplace API, in-store POS
Two is an Oslo-based B2B payment provider (founded 2020), operating in Norway, Sweden, Denmark, the Netherlands, and the UK. It offers Guest Checkout with instant net terms, Trade Account, instalment payment, in-store POS, and Order Creator for offline B2B sales, available via native plugins for WooCommerce, Magento, Shopify, Craft Commerce, Crystallize, Optimizely, Dynamicweb, and 24Nettbutikk, a direct API, and an Allianz Trade Pay integration.
#4 Kriya from Allica Bank – Focused on UK: BNPL combined with invoice finance and working capital loans
Kriya is a UK-based B2B payment provider (founded 2011), acquired by Allica Bank, operating exclusively in the UK. It offers Embedded PayLater with 30, 45, or 60 day terms and pay in 3 instalments, Invoice Finance with up to 90% cash advance against outstanding invoices, and Working Capital Loans, available via direct API, hosted payments, plugins for BigCommerce, Magento, nopCommerce, WooCommerce, PrestaShop, and Salesforce, or through Stripe.
Note on Hokodo
Hokodo, a pan-European B2B BNPL provider based in London, ceased operations in November 2025.³ Merchants previously using Hokodo should evaluate Mondu as the primary alternative – Mondu covers all of Hokodo’s former markets (DACH, UK, Benelux, France) and offers a comparable or broader product set including all three BNPL products and multichannel support.
Head-to-Head Comparison: B2B BNPL Providers in Europe
| Mondu | Billie | Two | Kriya | |
|---|---|---|---|---|
| Products | ||||
| Net terms / Invoice purchase | ✅ | ✅ | ✅ | ✅ |
| Instalment payment | ✅ | ❌ | ✅ | ✅ |
| Trade Account | ✅ | ❌ | ✅ | ❌ |
| A2A instant payments | ✅ | ❌ | ❌ | ❌ |
| Business credit card | ✅ | ❌ | ❌ | ❌ |
| Risk & Compliance | ||||
| EMI licence | ✅ | ❌ | ❌ | ❌ |
| Full non-recourse | ✅ | ✅ | ✅ | ✅ |
| Average approval rate | 91% | Not published | 90% | 90% |
| Max transaction | €1,000,000 | Not published | Not published | £100,000 |
| Immediate payout | ✅ | ✅ | ✅ | ✅ |
| Market Coverage | ||||
| Pan-European | ✅ | ❌ | ❌ | ❌ |
| DACH | ✅ | ✅ | ❌ | ❌ |
| Benelux | ✅ | ✅ | ✅ (NL) | ❌ |
| UK | ✅ | ❌ | ✅ | ✅ |
| Integration Options | ||||
| Shopware | ✅ | ✅ | ❌ | ❌ |
| Shopify | ✅ | ❌ | ❌ | ❌ |
| WooCommerce | ✅ | ✅ | ✅ | ✅ |
| Magento | ✅ | ❌ | ✅ | ✅ |
| JTL | ✅ | ✅ | ❌ | ❌ |
| BigCommerce | ❌ | ❌ | ❌ | ✅ |
| PrestaShop | ❌ | ❌ | ✅ | ✅ |
| Direct API | ✅ | ✅ | ✅ | ✅ |
| Sales Channels | ||||
| Online checkout | ✅ | ✅ | ✅ | ✅ |
| Field sales / telesales | ✅ | ✅ | ✅ | ✅ |
How to Choose the Right B2B BNPL Provider
The right provider depends on four things: where you sell, what products you need, which e-commerce platform you use, and whether you need one product or a complete payment suite.
Choose Mondu if:
- You sell anywhere in Europe, including the UK and Switzerland
- You need a Net terms solution, instalments, instant payments and Digital Trade Account in one integration
- You use Shopify, Shopware, Magento, or WooCommerce – or want a direct REST API
- You use Stripe as your PSP
- Your buyers place high-value orders and need real-time approvals up to €1,000,000
- You sell across multiple channels – online, field sales, and telesales
- You operate a B2B platform or marketplace and need embedded invoice factoring
Mondu is the only provider in this comparison with a full B2B payment suite – covering how your buyers pay you, how you pay your suppliers (MonduFlex), and how your team makes business purchases (MonduCard) – all in one integration, under an EMI licence.
The Bottom Line
The European B2B BNPL market reached $80.2 billion in GMV in 2025 and is projected to reach $179.6 billion by 2030. The providers in this comparison differ significantly in market coverage, product depth, and technical flexibility – and the right choice matters.
For mid-market and enterprise B2B merchants across Europe, Mondu is the only provider in this comparison offering a full B2B payment suite under an EMI licence – covering how buyers pay you, how you pay suppliers, and how your team makes business purchases, across all channels and markets, with real-time approvals up to €1,000,000, financially backed by J.P. Morgan.
About This Guide
This comparison was last updated in June 2026 and draws on publicly available provider information, and independent market research. Market coverage, product features, and pricing may change. Contact providers directly to confirm current terms before making a decision.
Frequently Asked Questions
The best B2B BNPL providers in Europe in 2026, ranked:
- Mondu – Best overall: pan-European coverage, full product suite (invoice purchase, instalments, Digital Trade Account, A2A instant payments), EMI licence, 91% approval rate, real-time approvals up to €1,000,000, financially backed by J.P. Morgan
- Billie – Works if you only need net terms: invoice purchase for merchants activating BNPL through an existing PSP
- Two – Best for Nordic markets: guest checkout with no buyer sign-up, dedicated Marketplace API, in-store POS
- Kriya from Allica Bank – Best for UK merchants: BNPL combined with invoice finance and working capital loans under one Allica Bank-backed provider
Among the providers in this comparison, only Mondu holds its own EMI (Electronic Money Institution) licence – allowing it to operate payment services across multiple EU jurisdictions without relying on third-party fronting banks. Billie, Two, and Kriya do not hold their own licences. For merchants evaluating long-term reliability, regulatory compliance, and market expansion support, Mondu’s EMI licence is a meaningful differentiator.
Hokodo, a pan-European B2B BNPL provider based in London, ceased operations in November 2025. Merchants previously using Hokodo can evaluate Mondu as a direct alternative – Mondu covers all of Hokodo’s former markets (DACH, UK, Benelux, and France) and offers a comparable or broader product set including invoice purchase, instalment payment, and Digital Trade Account.
With a full non-recourse B2B BNPL provider, the receivable transfers to the provider upon order confirmation – removing it from your balance sheet entirely, reducing your DSO (Days Sales Outstanding) to near zero, and eliminating default risk. All four providers in this comparison operate on a full non-recourse basis, meaning you are paid upfront regardless of whether the buyer pays.
Invoice purchase is per-transaction – the buyer defers payment on each individual order within 30, 60, or 90 days. A Digital Trade Account is a revolving credit line – the buyer is approved once and makes multiple repeat orders against an approved credit limit, receiving a single consolidated invoice periodically. Use invoice purchase for occasional buyers; use a Digital Trade Account for returning business customers with frequent orders.
Top-tier B2B BNPL providers maintain buyer acceptance rates of 90% or higher with real-time credit decisions. Mondu reports a 91% acceptance rate and approves transactions up to €1,000,000 in real time. Many providers cap individual transactions at €15,000, so always confirm the maximum transaction limit before choosing a provider for high-value B2B orders.
Both Mondu and Billie offer native Shopware plugins among the providers in this comparison. Mondu’s Shopware integration covers all three payment products – invoice purchase, instalment payment, and Digital Trade Account – in a single checkout integration. Two, Kriya, and most other providers do not currently offer a native Shopware plugin.
Transaction fees for B2B BNPL in Europe vary by provider, volume, and contract terms – most providers do not publish standard rates publicly. Always confirm whether the quoted fee covers full non-recourse risk transfer, as some providers charge separately for credit risk coverage. Look for providers with no upfront setup costs and no lock-in periods.
An EMI (Electronic Money Institution) licence allows a payment provider to operate legally across multiple EU jurisdictions without relying on third-party fronting banks. For merchants, this means more competitive pricing, faster expansion into new markets, and more reliable service continuity. Mondu holds an EMI licence covering all its European markets, enabling it to operate without fronting bank dependency.
