European B2B buyers are becoming even bigger users of all forms of digital commerce.

But 83% of B2B buyers say they would abandon an ecommerce purchase if no payment terms were offered at checkout, meaning that B2B sellers failing to offer payment terms are missing out on capturing new business and revenue growth, says a new survey of 500 companies in the United Kingdom and Europe from Hokodo, Oro Commerce and the U.K. chapter of the B2B Ecommerce Association.

Payments and European B2B buyers

73% of respondents say that payment challenges at checkout are causing them issues. These include unsuitable settlement methods or a lack of payment terms on an offer. With 79% of buyers agreeing that payment terms are critical for the success of their business in 2024, those who experience payment issues at checkout will be far more likely to abandon their cart, the survey says.

82% of B2B buyers say having access to payment terms is either important or very important when choosing a new B2B supplier.

Respondents identified three top areas for improvement in B2B ecommerce checkouts.

• 44% said that more transparency is needed around shipping costs and other fees,
• 43% said that customer support needs improvement.
• 39% said that ecommerce checkouts need to be faster and simpler.

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