Summary

According to PayNXT360, B2B BNPL payments in the region are expected to grow by 25.2% on an annual basis to reach US$80.2 billion in 2025.

Europe B2B BNPL adoption continues to accelerate as businesses increasingly seek flexible payment solutions for procurement and trade transactions.The medium to long-term growth story of the B2B BNPL industry in the region remains strong. B2B BNPL payment adoption is expected to grow steadily, recording a CAGR of 16.7% during 2026-2030. The gross merchandise value is projected to increase from US$80.2 billion in 2025 to US$179.6 billion by 2030.

Key Trends and Drivers in Europe's B2B Buy Now, Pay Later (BNPL) Market

Europe is the world's most regulated BNPL market and, for B2B BNPL specifically, the most structurally mature outside the United States. The region's B2B BNPL market is anchored by Germany's Billie and Mondu, the UK's Kriya and Hokodo, France's Defacto, and the pan-European activity of Hokodo, with a competitive landscape characterised by well-funded specialist providers competing for B2B marketplace platform integration partnerships rather than direct-to-SME market development.

Europe's B2B BNPL market is shaped by three regulatory frameworks that are simultaneously constraining consumer BNPL and legitimising B2B BNPL as a distinct product category: the EU Consumer Credit Directive II (CCD2), whose implementation across member states is due by end-2025; the UK Financial Conduct Authority's BNPL regulatory framework, expected to enter force around mid-2026 following HM Treasury's May 2025 publication of its final regulatory position; and the EU AI Act's classification of credit scoring systems as high-risk AI applications. All three frameworks impose compliance requirements primarily on consumer BNPL while treating B2B credit differently, creating a differentiated regulatory environment that favours institutional investment in B2B BNPL relative to consumer BNPL.

EU and UK Regulatory Frameworks Differentiate B2B from Consumer BNPL
• The European Consumer Credit Directive II which EU member states must implement by end-2025, with the framework entering force in 2026 eliminates the existing exemption for short-term interest-free BNPL products offered by third-party lenders, requiring full credit assessment, affordability checks, and regulated disclosure for consumer BNPL. B2B credit, by contrast, is explicitly excluded from CCD2 scope. The UK's equivalent framework following HM Treasury's May 2025 publication of its final BNPL regulatory position and the publication of the draft Financial Services and Markets Act 2000 (Regulated Activities etc.) (Amendment) Order 2025 similarly focuses on consumer deferred payment credit, with BNPL products entering FCA regulation around mid-2026.
• The regulatory divergence between consumer and B2B BNPL is creating a structural incentive for European BNPL providers to develop or expand B2B products. Consumer BNPL faces mandatory FCA authorisation in the UK, full CCD2 compliance in the EU, and the compliance cost increases that both entail. B2B BNPL, operating under lighter-touch commercial lending frameworks, offers lower compliance costs and more institutional investor appeal. The exit of Divido which entered administration in 2024 due to stricter compliance demands illustrates the selective pressure that regulatory change is creating.
• European B2B BNPL will benefit from regulatory divergence over the next 2–4 years as consumer BNPL players either exit or restructure to meet authorisation requirements. Institutional capital flows that previously supported consumer BNPL will partly redirect toward B2B BNPL, which offers comparable addressable market size with materially lower regulatory risk.

Open Banking Data Drives Automated B2B Underwriting Across the Eurozone
• Europe's PSD2 open banking framework implemented more comprehensively in the UK, Germany, France, and the Nordics than in Southern and Eastern Europe provides B2B BNPL providers with real-time bank account data for automated credit assessment. Billie, Hokodo, Defacto, and Mondu all incorporate open banking data into their underwriting models, enabling credit decisions within 30 seconds for SME buyers based on live bank transaction analysis rather than static financial statement review.
• The anticipated PSD3 framework which the European Commission has proposed to update open banking requirements across the EU will expand data sharing standards and improve underwriting data quality across member states where PSD2 implementation has been incomplete. UK open banking, now managed by the Joint Regulatory Oversight Committee, is separately advancing toward an expanded smart data framework that will extend financial data sharing beyond banking to additional financial product categories.
• Open banking data will remain the defining underwriting data source for European B2B BNPL through the next 2–4 years. Providers that have built the most sophisticated open banking data models will hold durable competitive advantages in credit accuracy and approval rate. PSD3 implementation will be a net positive for B2B BNPL underwriting across previously underserved EU member states.

B2B Marketplace Integration Becomes the Primary Competitive Battleground
• European B2B BNPL providers are competing primarily for integration partnerships with B2B marketplace platforms rather than for direct SME relationships. Billie has secured integrations with Metro AG (wholesale food) and Contorion (tools and industrial supplies) in Germany. Hokodo has integrated with logistics platforms in the Netherlands and B2B marketplaces across six European countries. Defacto's API powers B2B BNPL for platforms including Malt, Qonto, Pennylane, and Ankorstore across France and expanding European markets. The winner of marketplace platform integrations captures transaction volume at lower customer acquisition cost than direct-to-SME approaches.
• Europe's B2B e-commerce market is growing as procurement shifts online, creating new digital touchpoints where payment terms can be offered without requiring buyers to negotiate credit terms directly with suppliers. This digital procurement shift is creating a rapidly expanding set of integration opportunities for B2B BNPL providers embedded in checkout flows and supplier portals.
• Marketplace integration competition will intensify as more B2B platforms build API-based payment infrastructure. Providers that achieve preferred integration status with multiple high-volume platforms will develop network effects with each platform integration attracting more buyer transaction data that improves underwriting, enabling better pricing that attracts more platform partnerships.

Competitive Landscape and Regulatory Changes in Europe's B2B BNPL Market
Europe is the world's most mature B2B BNPL market outside the United States, with well-funded specialist providers, an advanced open banking infrastructure, and a competitive landscape characterised by multiple providers competing for B2B marketplace platform integration partnerships.

Competitive intensity is high between the established B2B BNPL specialists Billie, Mondu, Hokodo, Defacto, Kriya, and Playter and growing as consumer BNPL providers including Klarna develop B2B product extensions. Banks are accelerating digital trade credit development, with Barclays, HSBC, BNP Paribas, ING, and Rabobank all having developed or piloted digital B2B trade finance products. Pan-European expansion by established national market leaders is driving cross-border competitive pressure.

Key Players and New Entrants
• Billie (Germany): Europe's best-capitalised pure-play B2B BNPL provider, Billie has expanded to the Netherlands and Sweden, making it the most internationally active European B2B BNPL provider.
• Mondu (Germany): A Berlin-based B2B BNPL provider which has integrated with Metro AG and Contorion, covering wholesale food and tools distribution verticals.
• Hokodo (UK/Europe): A pan-European B2B BNPL provider. Hokodo is the only B2B BNPL provider operating across six European markets, targeting logistics platforms and B2B marketplaces.
• Defacto (France): The market's infrastructure-as-a-service B2B BNPL model leader.
• Kriya (formerly MarketFinance, UK): The UK's most prominent domestic B2B BNPL provider, with a Tide banking platform partnership providing distribution access to a large SME customer base, and sector coverage across construction, manufacturing, and wholesale trade credit.

Recent Launches, Mergers, and Acquisitions
• HM Treasury published its final BNPL regulatory position in May 2025 and laid the draft Financial Services and Markets Act 2000 (Regulated Activities etc.) (Amendment) Order 2025, bringing consumer BNPL into FCA regulation around mid-2026 explicitly differentiating B2B credit from the new consumer BNPL framework and creating a more clearly separated operating environment for B2B BNPL providers.
• Defacto's partnership with Ankorstore the wholesale marketplace connecting French brands with international boutique buyers embedded B2B BNPL for international wholesale buyers across Europe, enabling boutiques to purchase from French brands on 60-day payment terms through an API integration that required no separate Defacto customer onboarding.
• Zilch raised $125 million in debt financing from Deutsche Bank in June 2024, expanding its UK BNPL offerings a signal of continued institutional appetite for BNPL credit facilities even as regulatory compliance requirements increase operating costs for consumer-focused providers.
• The EU AI Act entered application for high-risk AI systems including credit scoring from August 2024, requiring European B2B BNPL providers using algorithmic underwriting to implement model documentation, explainability capabilities, and human oversight frameworks. BaFin and DNB both issued supplementary guidance on AI Act compliance.
• Germany's Act on the Modernisation of the Law on Partnerships, effective 2024, simplified SME legal structures and reduced documentation required for KYB checks, accelerating B2B BNPL onboarding for German Mittelstand businesses the primary target segment for Billie and Mondu.

Competitive Landscape Outlook for the Next 2-4 Years
• Consumer BNPL regulatory compliance requirements CCD2 by end-2025 in the EU and FCA authorisation by mid-2026 in the UK will redirect some institutional capital from consumer to B2B BNPL, which offers comparable market size with lower regulatory risk. This capital reallocation will accelerate B2B BNPL development across the region.
• Market consolidation among European B2B BNPL providers is expected over the next 2–4 years, with Billie and Hokodo most likely to emerge as pan-European leaders. Smaller national market providers without platform integration scale will face acquisition pressure from better-capitalised competitors or from European banks seeking digital trade credit technology.
• Bank-fintech partnerships will become the dominant operating model, with European clearing banks providing low-cost wholesale capital and regulatory standing while fintech B2B BNPL providers contribute technology, underwriting algorithms, and B2B marketplace distribution. This hybrid model is expected to dominate the mid-market segment.
• PSD3 implementation expected to update open banking standards across the EU will improve underwriting data quality in previously underserved southern and eastern EU member states, creating the data foundation for B2B BNPL market development in Spain, Italy, Portugal, and Poland.

Regulatory Changes Implemented in the Last 12-18 Months
• The EU Consumer Credit Directive II (CCD2), which EU member states must implement by end-2025 with the framework entering force in 2026, eliminates the existing exemption for third-party BNPL products, requiring full credit assessment and regulated disclosure for consumer BNPL. B2B credit is explicitly excluded, creating a differentiated regulatory environment that favours B2B BNPL development.
• HM Treasury published its final BNPL regulatory position in May 2025 and laid the draft Financial Services and Markets Act 2000 (Regulated Activities etc.) (Amendment) Order 2025, confirming that consumer deferred payment credit will enter FCA regulation around mid-2026. The framework applies to third-party consumer BNPL lenders, with B2B credit treated distinctly.
• The EU AI Act, applying to high-risk AI systems including credit scoring from August 2024, requires European B2B BNPL providers using algorithmic underwriting to document model governance, provide explainability for automated decisions, and maintain human oversight capabilities. BaFin, DNB, and the FCA have all issued supplementary guidance.

This report provides a detailed, data-centric analysis of B2B Buy Now Pay Later industry, covering market opportunities across end-use sectors, retail product categories, sales channels, and company size segments. With 45+ KPIs, the report offers a comprehensive understanding of B2B BNPL market dynamics, size, forecast, and competitive landscape.

PayNXT360’s research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view of emerging business and investment market opportunities.

This title from PayNXT360 is a bundled offering, combining the following 15 reports, covering 440 tables and 490 figures:

1. Europe B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
2. Austria B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
3. Belgium B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
4. Denmark B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
5. Finland B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
6. France B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
7. Germany B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
8. Italy B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
9. Netherlands B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
10. Norway B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
11. Poland B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
12. Spain B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
13. Sweden B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
14. Switzerland B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
15. United Kingdom B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook

ページTOPに戻る

Table of Contents

This title from PayNXT360 is a bundled offering, combining the following 15 reports, covering 440 tables and 490 figures:

1. Europe B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
2. Austria B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
3. Belgium B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
4. Denmark B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
5. Finland B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
6. France B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
7. Germany B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
8. Italy B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
9. Netherlands B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
10. Norway B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
11. Poland B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
12. Spain B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
13. Sweden B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
14. Switzerland B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook
15. United Kingdom B2B Buy Now Pay Later Business and Investment Opportunities (2021-2030) Databook

All global, regional, and country reports mentioned above will have the following tables of contents:

1. About this Report
1.1 Summary
1.2 Methodology
1.3 Definition
1.4 Disclaimer

2. B2B BNPL Market Size and Future Growth Dynamics by Key Performance Indicators

3. B2B Buy Now Pay Later Industry Attractiveness
3.1 B2B Buy Now Pay Later – Gross Merchandise Value Trend Analysis, 2021–2030
3.2 B2B Buy Now Pay Later – Average Value Per Transaction Trend Analysis, 2021–2030
3.3 B2B Buy Now Pay Later – Transaction Volume Trend Analysis, 2021–2030

4. B2B BNPL Snapshot by End-Use Sector, 2021–2030

5. B2B Buy Now Pay Later in Retail: Market Size and Forecast, 2021–2030
5.1 B2B Buy Now Pay Later Retail – Gross Merchandise Value Trend Analysis, 2021–2030
5.2 B2B Buy Now Pay Later Retail – Average Value Per Transaction Trend Analysis, 2021–2030
5.3 B2B Buy Now Pay Later Retail – Transaction Volume Trend Analysis, 2021–2030

6. B2B BNPL Snapshot by Key Retail Product Categories, 2021–2030
6.1 B2B Buy Now Pay Later – Electronics & Accessories – Gross Merchandise Value Trend Analysis, 2021–2030
6.2 B2B Buy Now Pay Later – Office Supplies – Gross Merchandise Value Trend Analysis, 2021–2030
6.3 B2B Buy Now Pay Later – Cleaning Products – Gross Merchandise Value Trend Analysis, 2021–2030
6.4 B2B Buy Now Pay Later – Fashion & Apparel – Gross Merchandise Value Trend Analysis, 2021–2030
6.5 B2B Buy Now Pay Later – Beauty & Personal Care – Gross Merchandise Value Trend Analysis, 2021–2030
6.6 B2B Buy Now Pay Later – Pantry & Food Products – Gross Merchandise Value Trend Analysis, 2021–2030
6.7 B2B Buy Now Pay Later – Other – Gross Merchandise Value Trend Analysis, 2021–2030

7. B2B Buy Now Pay Later in Manufacturing: Market Size and Forecast, 2021–2030
7.1 B2B Buy Now Pay Later Manufacturing – Gross Merchandise Value Trend Analysis, 2021–2030
7.2 B2B Buy Now Pay Later Manufacturing – Average Value Per Transaction Trend Analysis, 2021–2030
7.3 B2B Buy Now Pay Later Manufacturing – Transaction Volume Trend Analysis, 2021–2030

8. B2B Buy Now Pay Later in Transport and Logistics: Market Size and Forecast, 2021–2030
8.1 B2B Buy Now Pay Later Transport and Logistics – Gross Merchandise Value Trend Analysis, 2021–2030
8.2 B2B Buy Now Pay Later Transport and Logistics – Average Value Per Transaction Trend Analysis, 2021–2030
8.3 B2B Buy Now Pay Later Transport and Logistics – Transaction Volume Trend Analysis, 2021–2030

9. B2B Buy Now Pay Later in Professional Services: Market Size and Forecast, 2021–2030
9.1 B2B Buy Now Pay Later Professional Services – Gross Merchandise Value Trend Analysis, 2021–2030
9.2 B2B Buy Now Pay Later Professional Services – Average Value Per Transaction Trend Analysis, 2021–2030
9.3 B2B Buy Now Pay Later Professional Services – Transaction Volume Trend Analysis, 2021–2030

10. B2B Buy Now Pay Later in Industrial Applications: Market Size and Forecast, 2021–2030
10.1 B2B Buy Now Pay Later Industrial Applications – Gross Merchandise Value Trend Analysis, 2021–2030
10.2 B2B Buy Now Pay Later Industrial Applications – Average Value Per Transaction Trend Analysis, 2021–2030
10.3 B2B Buy Now Pay Later Industrial Applications – Transaction Volume Trend Analysis, 2021–2030

11. B2B Buy Now Pay Later in Healthcare: Market Size and Forecast, 2021–2030
11.1 B2B Buy Now Pay Later Healthcare – Gross Merchandise Value Trend Analysis, 2021–2030
11.2 B2B Buy Now Pay Later Healthcare – Average Value Per Transaction Trend Analysis, 2021–2030
11.3 B2B Buy Now Pay Later Healthcare – Transaction Volume Trend Analysis, 2021–2030

12. B2B Buy Now Pay Later in Other Sectors: Market Size and Forecast, 2021–2030
12.1 B2B Buy Now Pay Later Other – Gross Merchandise Value Trend Analysis, 2021–2030
12.2 B2B Buy Now Pay Later Other – Average Value Per Transaction Trend Analysis, 2021–2030
12.3 B2B Buy Now Pay Later Other – Transaction Volume Trend Analysis, 2021–2030

13. B2B Buy Now Pay Later Spend Analysis by Sales Channel
13.1 B2B BNPL Market Share by Sales Channel, 2021–2030
13.2 B2B Buy Now Pay Later Online Channel Market Size and Forecast, 2021–2030
13.3 B2B Buy Now Pay Later POS Channel Market Size and Forecast, 2021–2030

14. B2B Buy Now Pay Later Spend Analysis by Company Size
14.1 B2B Buy Now Pay Later Market Share by Size of Company, 2021–2030
14.2 B2B Buy Now Pay Later by Company Size – Small – Gross Merchandise Value Trend Analysis, 2021–2030
14.3 B2B Buy Now Pay Later by Company Size – Medium – Gross Merchandise Value Trend Analysis, 2021–2030
14.4 B2B Buy Now Pay Later by Company Size – Large – Gross Merchandise Value Trend Analysis, 2021–2030

15. Further Reading
15.1 About PayNXT360
15.2 Related Research