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Elkjøp, the largest consumer electronics retailer in the Nordics, has installed new technology to enhance its B2B payments and customer onboarding.
The technology now powers Elkjøp’s standard solution for B2B purchases on invoice/net terms across Norway, Sweden, Denmark and Finland. It forms part of the company’s broader payment suite which includes card, bank transfer, leasing and Vipps MobilePay.
The retailer, which is owned by UK electronics retailer Currys, said the service adds further flexibility and automation across payments, Know Your Business (KYB), credit and fraud.
After a successful rollout in Sweden in April this year, Elkjøp has launched the technology across all four Nordic markets and it is now available in over 400 stores in the region.
The system integrates with Elkjøp’s existing instant onboarding flows and adds features such as guest checkout for ad-hoc buyers, optimised credit limits, and more tailored payment options. allowing buyers to choose flexible invoice terms or instalments of up to 36 months.
The tool has been installed in partnership with B2B payments firm Two.
Through the collaboration, Elkjøp said it has outsourced elements such as credit decisions and invoice management as part of its onboarding.
The company says that this reduces internal complexity while supporting strong conversion rates and customer satisfaction, aligning with its broader strategic aim to strengthen its B2B offering as part of its overall market leadership in the Nordic region.
Morten Kleveland, Elkjøp Nordic’s B2B director said that the move means it can now offer its B2B customers “market leading” credit solutions, including great limits, highly secure purchase verifications, several net terms options, and part-payment.
He added that the new technology marks an important step towards providing its B2B customers with “seamless purchase experiences both online and in-store, matching their credit needs”, as well as allowing the company to focus on its core business rather than credit assessments.
