Credit Key, the only Buy Now, Pay Later solution for B2B, has announced the release of an extension for OpenCart, the world’s free and open-source ecommerce platform. The extension will allow vendors using OpenCart to offer Credit Key’s services directly on their ecommerce website by downloading the extension from OpenCart’s marketplace.
“We’re really excited to add OpenCart to our growing list of integration partners at Credit Key. As the only Buy Now, Pay Later solution for B2B companies, Being listed in their Marketplace represents a great strategic fit for both companies.” said Nick Cornell, Director of Partnerships and Alliances at Credit Key. “Credit Key brings a unique offering for OpenCart’s B2B customers looking to offer more flexible payment options at checkout and we look forward to helping their customers grow their revenues.”
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With Credit Key, vendors can offer customized financing options to their B2B customers, right at Checkout. Buyers can be approved for a line of credit and select from a number of repayment plans instantly from checkout. The whole process takes a matter of minutes, and occurs right within the customer’s cart — without ever leaving the vendor’s OpenCart website.
Once an application has been approved, and the transaction completed, Credit Key pays the merchant within 48 hours. From there, the vendor receives payment in full — preserving earnings and working capital in the process — and the buyer repays Credit Key based on the terms they’d agreed upon at purchase.
Credit Key lives alongside other payment options at checkout, but it provides the purchaser better terms and comes at no risk to the merchant. Credit Key assumes the credit risk and any loan servicing responsibilities — while qualified buyers enjoy transparent payment plans and competitive rates.
The partnership comes at a time when many B2B buyers are seeking alternate payment and financing options from their vendors. By easing the financial burden for buyers at the point of sale, B2B vendors can not only reduce cart abandonment rates, but can also increase their average order values and conversion rates.
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