NuORDER Unveils Payments Service | PYMNTS.com

Brahm Buck

Share Tweet Share Share Share Email B2B online commerce technology company NuORDER has unveiled its NuORDER Payments offering. NuORDER brands can start taking credit card payments inside of their wholesale platforms without needing to process payments by telephone or harness a third-party payment gateway, according to a Tuesday (Jan. 26) […]

B2B online commerce technology company NuORDER has unveiled its NuORDER Payments offering. NuORDER brands can start taking credit card payments inside of their wholesale platforms without needing to process payments by telephone or harness a third-party payment gateway, according to a Tuesday (Jan. 26) announcement.

“Digital payments [are] the norm for eCommerce, but B2B payments have been stuck in the dark ages for too long,” NuORDER Co-Founder and Co-CEO Heath Wells said in the announcement. “With NuORDER Payments, we are delivering a much-needed solution to be able to collect payments in a more cost effective and streamlined way.”

NuORDER Payments was created to help with and simplify the wholesale ordering workflow. Brands can handle payments for immediate orders or those scheduled ahead of time. Furthermore, purchasers get a streamlined checkout experience that lets them make payments in the same system they use to make orders. Purchasers also can keep different credit cards in a digital wallet for purchasing through NuORDER’s network of brands, the announcement stated.

NuORDER is a wholesale online commerce platform through which purchasers can peruse merchandise, map out collections and “make smarter buys in real time,” according to the announcement. The company, which is based in Los Angeles, links over 3,000 brands and 500,000 retailers.

As PYMNTS previously noted, the digital migration of sales operations offers large opportunities in cost savings and effectiveness for B2B sellers, such as wholesalers and manufacturers, but the motivations for making the online transition haven’t always been about fueling the overall optimization of the enterprise.

The first push of B2B organizations into the B2B online commerce space was more about reducing expenses than increasing top-line expectations, according to Spryker Co-Founder and CEO Boris Lokschin. However, the industry is in the middle of a change in which B2B companies increasingly comprehend the top-line opportunities of harnessing the online commerce model.

“B2B companies, especially manufacturers, now recognize they need to build additional revenue streams,” Lokschin told PYMNTS in an interview earlier this month.

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NEW PYMNTS DATA: RETAIL BANKING SERVICES’ PARADIGM SHIFT STUDY – JANUARY 2021 

About: The January 2021, Retail Banking Services’ Paradigm Shift Report, PYMNTS examines how consumers choose to engage with their FIs when accessing information about various products and services, especially since the pandemic’s onset.

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