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Kriya Product Pulse: End of Year Edition

Kriya Team
December 14, 2023
min read
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A look back on all the great products and updates we’ve shipped in 2023.

Kriya Product Pulse December 2023 End of Year edition

Season’s greetings from Kriya Product Pulse! We figured it’s the perfect time of year to recap our product highlights from 2023. Read on for a peek at what we're working on for early 2024 too.

1) PayLater for B2B checkouts

Hot off the launch of Kriya PayLater in 2022, we shipped a number of improvements to make it a breeze for merchants to offer flexible payment terms in their eCommerce checkouts.

Hosted Payments Flow

💸 Take the low-code option. Now you can redirect buyers into a hosted checkout experience, rather than building directly to our API.

☑️ This means faster speed to market and less technical lift to be up and running. 

International instant decisioning

🌐 Now you can instantaneously offer credit at online checkout with equal ease to international and domestic buyers.

☑️ This means it’s now even easier to grow your business internationally with Kriya. Offer flexible payment terms to buyers in 45 countries via our eCommerce API.

 Plug Kriya into your eCommerce platform

🔌This year we released plugins for a range of leading eCommerce platforms

☑️ Remove the friction of a custom build and add Kriya to your online checkout faster with the following plugins.

  • Magento
  • WooCommerce
  • BigCommerce
  • Prestashop
  • nopCommerce

2) Hello Merchant Portal!

Big news all round for Kriya merchants new and old. We launched Kriya Merchant Portal - simultaneously the platform for multichannel PayLater payments as well as an upgrade for our legacy Invoice Finance Portal.

Convert invoices to instant working capital

Pay as you go: No more subscription fees. Now you only pay when you finance an invoice.

Committed funding: Faster and guaranteed funding. Get up to 90% of your invoice amount advanced within 24 hours.

Access more funding: Go beyond your business credit limit. Tap into funding limits set against your entire buyer base.

Upgrade experience: Built on more modern technology, enjoy a faster, more reliable user experience.

3) A slicker way to do buyer authentication

Buyer authentication is vital to offering credit but it can add a ton of friction. So we combined credit risk, anti-fraud and ID checks into a single flow with automated instant decisions. There’s a ton of new capabilities we unlocked for our merchants:

Instant PayLater spending limits

Now you can get instant credit decisions and spending limits for buyers across eCommerce and offline orders.

☑️ Give real-time credit decisions to buyers to increase order conversion and basket size.

☑️ Get a risk decision and spending limit in under 30 seconds, and fraud checks in under 6 seconds.

☑️ Industry beating 91% acceptance rate for buyers.

Instant decisions boost your offline sales

⏩ Now instant decisioning available in Merchant Portal to empower Sales teams to close deals faster with embedded credit.

Why this is cool

  • Enable your sales team to get real-time credit decisions while in conversation with prospects and customers.
  • No need to wait on Finance teams to manually approve buyer credit.
  • Sales can leverage pre-approved spending limits to create personalised offers for your prospect customers.

Plug and play buyer authentication

🌟 You can now authenticate and onboard buyers in a single flow. Available through our API or no-code Hosted Onboarding Flow.

☑️ This means you can consolidate credit checks (KYB), anti-fraud (director KYC) and automated spending limits into one simple flow.

Read more in our API docs

What’s next?

🔮We’ve still got plenty instore for  Merchant Portal and Buyer Authentication

  • Onboard international buyers from 45 countries for Merchant Portal orders.
  • Bulk Orders via Merchant Portal.
  • We’re updating our eCommerce API to automate the process for cancellations and refunds.

Stay tuned for more details of our roadmap next month.

Wishing you a happy and relaxing festive break!

B2B Payments to boost your growth

To learn more about our payments and digital trade credit solutions book a call with us today.
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