As Two continues to expand it's reach across different markets, we're happy to announce the success we've seen in Sweden after a new partnership with electronics retail giant NetOnNet!
After expanding to the Swedish market in early 2023, our partnership with NetOnNet has seen considerable growth, highlighting the demand for a B2B payment solution from Swedish business buyers.
Utilising two of our B2B payment solutions, Guest Checkout and Order Creator, has enabled NetOnNet to offer instant trade credit on their online webshop and in-store. This, ultimately, provides NetOnNet's customers with the best possible checkout experience, complete with secure purchasing and immediate credit decisioning, all with 1 click.
Towards the end of 2023, NetOnNet also went live in Norway, expanding their operations into a new market and bringing Two’s B2B payment solutions with them.
Per Stridh, B2B Manager at NetOnNet commented “Providing our customers with the best possible experience is our number one priority and with Two, we really feel that we can offer them the best purchasing experience on the market. Whether our business customers are buying from us online or in our stores, it’s fantastic that their experience is secure, straightforward, and quick.”
Since using Two’s B2B payment solutions in Sweden:
- 86% of NetOnNet’s business customers are being approved to purchase on terms.
- Within 3 months of partnering, Two became the most popular payment method for NetOnNet’s business customers in Sweden - more than debit or credit card - highlighting buyer preference.
- Ordered processed by Two has increased by 3031% since May this year.
- One third of Swedish orders see 0% abandonment thanks to Two’s 1-click checkout offering, supported by their advanced credit engine and risk decisioning.
- Most of NetOnNet’s business customers only need to verify with an email address, leading to a 90% conversion rate.
Notably, this new partnership also has a positive impact on the Swedish economy, providing upfront payments for trade credit purchases. Average payment terms in Sweden across all company sizes is 32 days, with approximately 72% being paid late. Upfront payments - supported by Two - allows NetOnNet to reinvest into the company and further develop customer-centric initiatives for the future.
Onwards and upwards NetOnNet!
