INDUSTRY USE CASE
Events & hospitality industry growth engine
The events and hospitality industry is a vibrant and essential sector encompassing various types of businesses, including hotels, restaurants, event organisers, and travel agents. With a global worth exceeding 4.03 trillion euros in 2022, the events and hospitality industry is growing quickly.
It’s projected to reach 5.8 trillion euros by 2027. However, financial challenges such as high upfront costs and fluctuating demand pose significant obstacles for these businesses.
TermsTech has developed a game-changing payment terms solution tailored specifically for the events and hospitality industry. Our flexible payment options for up to 90 days help businesses secure event bookings, accommodation reservations, and catering services while allowing the customers to spread out their payments.
With TermsTech you will benefit from:
- automated payment processing leads to increased number of bookings
- real-time eligibility assessment for sole traders to large companies
- individual integration options (via API , plug-in or self-service)
- improved cash flow and more working capital for businesses
- enhanced customer satisfaction
- letting us chase late and non-payments
With enhanced financial stability, the events and hospitality industry can continue to thrive and provide exceptional experiences for guests worldwide.
Here’s how it works for businesses in events & hospitality
You integrate TermsTech into your online platform. Then you can offer our payment terms solution to the client organisation that needs the goods or services.
After the buyer selects BNPL as a payment method and checks out, the supplier subsequently demonstrates proof of delivery. Then, TermsTech pays the supplier for the completed work.
The buyer then pays us back in line with their chosen payment terms (up to 90 days). In this way the sellers of the goods or services are paid punctually and the buyers effectively manage their cash flow and back office.
Our payment terms solution is tailor-made and caters for all your needs, so you don’t have to worry about credit rating checks, financing, fraud protection, risk management, payments, or even debt collection.
5 reasons to choose TermsTech as your payment terms provider
Enhance customer experience
B2B customers love to pay for goods with credit. Offer TermsTech’s payment terms at your checkout and watch your conversion rates increase while you attract new customers. Flexible. Fast. Easy to use.
Larger transaction sizes = grow revenue
Without providing payment terms, only a few B2B customers would be brave enough to make large transactions. Our credit limit strategy of up to EUR 200k makes the buying decision easier.
Fast and consistent cash flow
Your cash flow and working capital are key to a successful business. We pay you up front and the buyer pays us back via payment terms up to 120 days. It’s a win-win for you and your customers.
Fine-tuned credit check
Give your business the reputation it deserves. With our in-house-developed eligibility assessment tool, you can rest assured that we extend payment terms only to those with a good credit rating. Not only is our process lightning fast, it takes the pressure off of you to run your own checks.
Risk-free terms
Any non-payments? That’s not your problem anymore! Our Buy Now, Pay Later solution is completely risk-free for you. Any payment defaults due to fraud or non-payment are on us. This way you can reduce your risk while focusing on what you do best. Terms.Tech helps you to build your business wisely and safely.
Contact us
Hi, I’m Wouter!
I’d love to discuss how we can help your operation with our working capital solutions. I’m looking forward to meeting you and answering all of your questions about AREA42.
