Breef Revolutionizes B2B Marketplace for Agencies with New Payment Infrastructure
According to PYMNTS, Breef, the online marketplace connecting brands and agencies, has announced the integration of payment infrastructure into its platform. Through its new offering, Breef(Pay), powered by the flexible business-to-business (B2B) payments platform Tranch, brands now have the option to utilize a buy now, pay later (BNPL) approach to fulfill their marketing needs. This development aims to eliminate concerns over upfront costs and foster a more seamless collaboration between marketers and CFOs, as stated in a press release by Breef on June 5.
«We are modernizing how companies approach and manage spend — encouraging them to grow now, pay later,» said George Raptis, Co-Founder and CEO of Breef. The introduction of Breef(Pay) enables companies to navigate their marketing projects with greater financial flexibility, empowering them to find and finance agencies all within a single platform. Simultaneously, agencies can benefit from increased project opportunities and enhanced payment security.
The Breef platform encompasses 15,000 agencies spread across 26 countries, along with numerous brands seeking agencies for various project types. According to the press release, Breef has facilitated project value worth $100 million to date.
Philip Kelvin, Co-Founder of Tranch, expressed enthusiasm about Breef’s comprehensive approach, stating, «We are energized by what Breef is doing by bringing an entire market onto one platform. We understand the needs of businesses to be paid on time, and also give growing companies the flexibility to access additional marketing spend to pay on their terms without compromising on growth objectives.»
Research conducted by PYMNTS indicates that buy now, pay later solutions have the potential to level the playing field in the realm of B2B payments. By extending the same principles that made BNPL popular in consumer transactions, B2B payments can experience similar benefits. The March/April edition of the «Buy Now, Pay Later Tracker®,» a collaborative effort by PYMNTS and Splitit, explores this concept in greater detail under the title «Is BNPL the Next Driver for B2B Growth?».
The advantages of BNPL for B2B payments include the absence of interest payments, provided that all installments are paid on time. It also assists businesses in managing cash flow challenges and simplifies the purchasing process, eliminating the need for traditional commercial loans from vendors.
With the introduction of Breef(Pay), Breef aims to redefine the agency-client relationship within the B2B landscape, offering enhanced convenience and financial flexibility to promote growth and productivity.