HOKODO Buy Now Pay Later checkout experience
Hokodo’s technology empowers B2B merchants to offer credit terms to their business customers instantly, even on their first purchase. In turn, customers benefit from additional payment terms, interest free, through a frictionless Buy Now Pay Later checkout experience. Hokodo’s solutions are backed by Lloyd’s of London.
On our country coverage, we currently serve the UK, France and Germany. We don't cover Ireland at the moment but we do work with a few Irish merchants who sell across our markets. We have plans to expand into Ireland fully by early next year.
On fees - This is based on the risk profile of the merchant's customers. So we'll do an evaluation first, and then come back with the rates for each payment term a customer can choose. Overall our fees range between 1.5%-4%. The terms available to customers are 30-120 days as well as installment payments. dd
Speed of payment - We pay the merchants once they ship the goods. So on fulfilment.
Comments: 10
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25 Aug, '21
KirstyWould be interested to see what this looks like on the payment gateway/ how easy it is to set up!
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25 Aug, '21
Darren McIntosh AdminHi Kirsty - if we progress with this opportunity, the setup should be simple. You would establish an account with Hokodo, they would provide you with an API key to hook up the app and it would then be applied to the checkout! Very similar to how you make your current payment gateway live on EvoX.
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25 Aug, '21
JamesChecked out their site - looks interesting. No mention of merchant charges though - is there any info on that / is it comparable to other payment gateways for example?
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26 Aug, '21
TonyGreat idea in principal as would encourage larger spend and help new set ups. Would like to know merchant charges though and also clarify that we get full payment up-front.
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26 Aug, '21
Darren McIntosh AdminHi guys, I have reached out to Hokodo for answers to your questions, so will post a reply in here ASAP!
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27 Aug, '21
Darren McIntosh AdminResponse from Hokodo;
On our country coverage, we currently serve the UK, France and Germany. We don't cover Ireland at the moment but we do work with a few Irish merchants who sell across our markets. We have plans to expand into Ireland fully by early next year.
On fees - This is based on the risk profile of the merchant's customers. So we'll do an evaluation first, and then come back with the rates for each payment term a customer can choose. Overall our fees range between 1.5%-4%. The terms available to customers are 30-120 days as well as installment payments. dd
Speed of payment - We pay the merchants once they ship the goods. So on fulfilment. -
08 Sep, '21
DavidHi Darren, certainly of interest if this is a finance option for customers to spread payments and the fees are incorporated into the charge to our customer for the facility, on an order by order basis and not account. Their website reads somewhat as if this is invoice financing for the dealer which we wouldn't be interested in.