Selecting the right B2B payments platform determines how effectively your business can offer net terms, manage accounts receivable, and maintain healthy cash flow. While Hokodo operated as a European B2B BNPL provider before winding down in late 2025 and Invoiced serves as an AR automation software platform following its 2024 acquisition by Flywire, Resolve Pay delivers integrated net terms financing combined with comprehensive AR automation in a single solution. Understanding these fundamental differences helps mid-market manufacturers, distributors, and wholesalers select the approach that matches their cash flow needs, credit risk tolerance, and operational requirements.
When B2B sellers evaluate payment solutions, the choice between pure AR automation software and integrated financing platforms becomes critical. Three distinct approaches represent fundamentally different philosophies toward managing trade credit, cash flow, and accounts receivable. Hokodo operated as a European B2B BNPL platform before winding down in late 2025. Invoiced functions as AR automation software that helps businesses manage invoicing and collections workflows. Resolve Pay takes a different approach, combining non-recourse invoice financing with complete AR automation to help reduce credit risk while accelerating cash flow.
The B2B payments landscape encompasses distinct solution categories, each serving different operational models and business objectives. Understanding these fundamental differences helps finance leaders select tools aligned with their growth stage and cash flow requirements.
Net terms represent deferred payment arrangements where business buyers receive goods or services today and pay at a future date, typically Net 30, 60, or 90 days. The U.S. Small Business Administration notes that payment terms can affect business cash flow and recommends evaluating customer credit before extending terms.
Traditional approaches to managing net terms include:
B2B Buy Now Pay Later platforms emerged to address the cash flow challenges inherent in trade credit. These solutions advance funds to sellers immediately while buyers pay on extended terms. The value proposition centers on converting receivables into immediate cash while transferring applicable credit risk.
Resolve Pay pioneered the integration of B2B net terms financing with comprehensive accounts receivable automation. Rather than offering separate tools for financing and AR management, Resolve Pay delivers a unified platform where credit decisioning, invoice advances, payment tracking, and collections operate together. This eliminates the need for multiple vendors and ensures seamless data flow across all receivables functions.
The integrated approach offers compounding advantages:
Resolve Pay operates as an integrated B2B payments platform enabling manufacturers, distributors, and wholesalers to offer net terms while receiving faster access to cash and reducing credit risk exposure. Resolve Pay was spun off from the B2B work associated with Affirm in 2018. Its team brings experience across B2B payments, credit, and financial technology, with Resolve highlighting experts who have worked at companies including Amazon, PayPal, and Fortune 500 firms.
The platform serves more than 15,000 businesses and won the 2025 BigCommerce Innovative Integration Award for its B2B ecommerce integration capabilities.
Resolve Pay's AI-powered credit system evaluates thousands of buyer data points alongside behavioral signals and credit expertise. Resolve can assess a business using its company name and address and generally delivers credit results within 24 business hours.
Key business credit check features include:
Resolve Pay's agentic collections system uses multi-channel automated sequences across email, SMS, and voice AI for intelligent escalation. The system configures day thresholds automatically, pauses when payments or disputes are received, and logs all interactions to invoice records.
The collections approach preserves customer relationships through a professional, friendly tone rather than aggressive tactics. Resolve Pay handles buyer follow-ups directly, helping reduce AR workload while maintaining positive business relationships.
Resolve Pay offers native integrations with major ecommerce and accounting platforms:
Two-way sync ensures invoice and payment data flows automatically between systems, eliminating manual entry and reconciliation. Most teams launch in under one week with white-label deployment maintaining the seller's brand throughout the buyer journey.
Hokodo operated as a Pan-European B2B BNPL platform from 2018 until it was wound down in late 2025. The company had raised $177M in equity and debt funding and served 10 European countries before ceasing operations.
Hokodo focused exclusively on European markets, offering trade credit solutions to online B2B sellers through API integrations. The platform supported multi-currency transactions across the EU and UK with Lloyd's of London-backed credit protection.
Before winding down, Hokodo achieved significant scale:
Hokodo's founders explained the wind-down in a published post-mortem. The primary causes included taking too long to find their ideal customer profile, trying to serve too broad a range of customers from small marketplaces to large enterprise merchants, and building too much product complexity before validating core value propositions.
Hokodo was wound down in late 2025. Its website states that the company has ceased trading and directs customers with unpaid debts to the relevant debt collection agencies.
For businesses previously using Hokodo or considering European B2B BNPL options, the wind-down creates an immediate need for alternatives. Resolve Pay serves as an option for suppliers targeting North American customers, though its focus remains on US and Canadian markets rather than European operations.
Invoiced operates as an accounts receivable automation software platform following its August 2024 acquisition by Flywire. The platform specializes in billing, invoicing, and collections workflows rather than trade credit financing.
Invoiced provides comprehensive AR automation capabilities:
The platform connects with enterprise ERP systems including NetSuite, Sage Intacct, Microsoft Dynamics 365, Workday, QuickBooks, and Xero. Following the Flywire acquisition, Invoiced gained access to 140+ currencies across 240+ countries.
Invoiced delivers measurable AR improvements with reported metrics including average DSO reduction, time saved on manual tasks, and reduction in billing inquiries. The platform automates payment reminders, follow-up sequences, and collection workflows.
The fundamental difference between Invoiced and Resolve Pay lies in financing capabilities. Invoiced provides software for managing AR processes but does not offer:
Sellers using Invoiced still wait 30-90 days for customer payment and retain full credit risk exposure. The platform optimizes the collection process but does not address the underlying cash flow challenge of extended payment terms.
Following Flywire's acquisition of Invoiced in 2024, Invoiced operates as part of Flywire's broader B2B payments offering. Its core focus remains accounts receivable automation, including invoicing, collections, cash application, reporting, forecasting, and global payment workflows.
The approach to credit risk represents a significant differentiator among B2B payment solutions. Understanding recourse versus non-recourse models helps sellers evaluate the true benefits of each platform.
Recourse financing means the seller retains liability if the buyer fails to pay. Traditional invoice factoring typically operates on recourse terms, meaning the seller must repurchase unpaid invoices or accept chargebacks. The seller gains immediate cash but does not eliminate credit risk.
Non-recourse financing can transfer applicable buyer credit risk to the financing provider. Resolve Pay's advances are non-recourse on eligible approved invoices, so sellers retain covered advance payments if an approved buyer defaults, subject to the applicable financing agreement.
According to Federal Reserve research on accounts receivable management, extended payment terms significantly impact working capital for B2B businesses. The cash flow implications differ substantially across approaches:
With Resolve Pay:
With Invoiced:
With Hokodo (historical):
Resolve Pay's non-recourse model helps sellers offer extended terms to qualified buyers while reducing their exposure to applicable buyer credit risk on covered advances. Customer case studies demonstrate this impact:
Efficient accounts receivable management directly impacts working capital and operational costs. Comparing automation capabilities reveals how each platform addresses the manual burden of managing business receivables.
Resolve Pay's AR automation platform handles the complete invoice-to-cash cycle:
Customer results demonstrate significant efficiency gains:
Resolve Pay's agentic collections system delivers intelligent, multi-channel outreach:
The system automatically pauses sequences when payments or disputes are received, preventing customer irritation from redundant messages. All interactions log to invoice records for complete audit trails.
Invoiced also provides collections automation with documented results. However, Invoiced's automation optimizes collection of payments the seller is still waiting to receive, while Resolve Pay's approach combines automation with faster access to cash.
Collections approach significantly impacts ongoing business relationships. Both Resolve Pay and Invoiced emphasize professional, relationship-preserving approaches.
Resolve Pay's advantage lies in reduced collection intensity when sellers have already received their advance. With non-recourse financing, the urgency shifts from the seller to Resolve Pay, enabling more patient, customer-friendly follow-up approaches that protect ongoing business relationships.
Seamless integration with existing business systems determines how quickly teams can implement new solutions and whether data flows smoothly across operations.
Resolve Pay offers native ecommerce integrations enabling net terms at checkout:
These integrations enable credit decisions during the checkout process, removing friction that causes cart abandonment. Buyers see available credit limits and payment terms before completing orders.
Invoiced focuses on invoice delivery and payment portal capabilities rather than embedded checkout financing.
Both platforms connect with major accounting systems:
Resolve Pay:
Invoiced:
Invoiced's enterprise ERP connections are extensive following the Flywire acquisition, particularly for large organizations using Dynamics 365 or Workday. Resolve Pay's integrations serve mid-market businesses with strong QuickBooks, Xero, and NetSuite coverage.
Both platforms provide API access for custom implementations. Resolve Pay offers REST API with webhooks and sandbox environment, with documentation available. Invoiced provides Integration Studio with API capabilities.
Resolve Pay's white-label payment portal maintains seller branding throughout the buyer journey, enabling seamless customer experiences without third-party branding intrusion.
Different platforms serve different business profiles. Understanding ideal customer alignment helps organizations select solutions matching their specific needs.
Resolve Pay targets:
Notable customers include ConEquip (construction equipment), Trenchless Supply, SS&SI Dealer Network, Archipelago Lighting, and DocShop Pro. These businesses share common characteristics: substantial invoice values, extended payment terms, and need for both cash flow acceleration and credit risk protection.
Invoiced serves:
Resolve Pay focuses on mid-market B2B sellers, typically with over USD 1M in annual revenue, seeking to scale net terms programs without proportional credit risk. The platform handles online, offline, field rep, and embedded checkout transactions across diverse sales channels.
Invoiced serves a range from small businesses to enterprises, with particular strength in organizations managing complex subscription billing or international invoicing.
Resolve Pay is particularly relevant for businesses that:
Resolve Pay brings credit decisioning, non-recourse invoice advancement, payment workflows, AR automation, and collections into one platform. This integrated structure helps B2B suppliers reduce the operational complexity of managing separate systems for trade credit, receivables, and cash flow.
For manufacturers, distributors, and wholesalers, the value centers on receiving faster access to cash from eligible approved invoices while maintaining extended payment terms for qualified buyers. Resolve Pay also helps automate receivables processes and reduce applicable buyer credit risk through its non-recourse model.
Customer results demonstrate the operational value of this approach. Elston Materials increased margins from 25% to 30%, while other Resolve Pay customers have reported improvements in revenue growth, receivables workload, and credit-management efficiency.
Documented customer outcomes demonstrate how integrated financing and AR automation translate to business results.
These results share common patterns: rapid implementation, improved cash flow, reduced manual workload, and growth enabled by confident credit extension.
Resolve Pay is designed for B2B suppliers that want to combine net terms, faster access to cash, credit management, payments, AR automation, and collections in one connected platform.
Resolve Pay brings several connected capabilities into one platform for B2B suppliers:
For manufacturers, distributors, wholesalers, and other B2B suppliers seeking to offer competitive net terms while improving cash flow and streamlining receivables, Resolve Pay provides an integrated approach that combines financing, credit management, payments, and AR automation in one platform.
Resolve Pay provides non-recourse advances on eligible approved invoices. Sellers can receive funds before their buyers' payment terms expire while Resolve Pay assumes applicable buyer credit risk on covered advances, subject to the financing agreement.
Yes. Resolve Pay supports major ecommerce platforms including Shopify, BigCommerce, WooCommerce, and Magento 2, as well as accounting and ERP systems including QuickBooks Online, Xero, Sage Intacct, and Oracle NetSuite. APIs and webhooks are also available for custom implementations.
Resolve Pay states that most teams can launch in under one week. Implementation timing depends on the systems, integrations, and workflows involved.
Resolve Pay supports fast AI-powered business credit decisions. Its streamlined credit assessment can use a customer's business name and address, with results generally available within 24 business hours and some qualifying transactions receiving faster decisions.
Resolve Pay is designed for established B2B businesses such as manufacturers, distributors, wholesalers, and suppliers that want to offer net terms while improving cash flow, automating receivables workflows, and reducing applicable buyer credit risk.
This post is to be used for informational purposes only and does not constitute formal legal, business, or tax advice. Each person should consult his or her own attorney, business advisor, or tax advisor with respect to matters referenced in this post. Resolve assumes no liability for actions taken in reliance upon the information contained herein.