Overview
Back to topBalance is the leading B2B payment provider, built specifically for financing and business payment processing. Balance powers enterprise organizations and marketplaces to extend terms directly from the checkout, along with the payment method of their choice. Balance is helping merchants across verticals like wholesale, commodities, and retail succeed online with a suite of products designed for the unique needs of business payments.
The Magento extension enables any Magento B2B merchant to provide their buyers with the option to pay via net terms, check, wire, or card right from the checkout and with no additional steps. Plus, the merchant gets paid right away, no matter how the buyer chooses to pay, or when. Balance handles the credit, collections, and online experience——increasing your ability to truly scale your business with a payment partner that removes the friction and barriers to growth by managing the full B2B transaction lifecycle.
Account & Pricing
To use this extension, you need to sign up for a Balance account. Transaction fees may be applied. For more information and to register, please visit the registration page.
Feature List
- A self-serve all-in-one checkout experience designed for B2B needs
- Immediate credit application and buyer qualification straight from the checkout
- Extend payment terms to buyers (net 15, 30, 45, and 60 days), and get paid on the next business day.
- Accept all of the most popular B2B payment methods online
- Credit cards
- Bank debit
- Wire
- Checks
- Self-serve qualification for registered buyers straight from your store
- Offer flexible payment mechanisms, like payment upon delivery, payment by milestones,, and payments against invoices or with a quote.
- Merchant branded invoices generated from Balance dashboard
- Allow buyers to request merchant branded invoice documents straight from the checkout
- Streamline account receivables, save time, and reduce errors with automated reconciliation
Multiple B2B Payment Methods
With Balance, your customers can pay online using a variety of payment methods beyond just credit cards. Accept popular business payment methods such as instant ACH, bank wires, and checks, all from one checkout.
Flexible B2B Payment Terms
Balance supports flexible payment terms for buyers with instant payouts to merchants, so no matter when your buyers want to pay, you’ll get paid right away.
Instant Financing
Easily extend lines of credit directly from the checkout. Balance will automatically approve buyers for up to $50,000 and handle collections on your behalf.
Seamless Integration
Balance offers B2B buyers and sellers a seamless, omni-channel experience. The Balance extension modifies your payments page to accept Balance as a payment method. You control which payment methods to accept, and which payment terms to provide, if any. To use this extension, you need to sign up for a Balance account.
Benefits of Balance Checkout
- The first fully self-serve, consumer-grade checkout experience for business buyers.
- Built for merchants and marketplaces, with built-in transaction financing, instant payouts, consolidated payments, and payment automation
- Seamless integration with your payments page
- Full control over which payment methods and mechanisms to offer your buyers
- Reduce DSO and receive payment in a matter of minutes, no matter how or when your buyers choose to pay.
- Drive online sales and offer your buyers the B2B payment methods that they want
- Ensure your customers have the cash on hand they need to purchase more with you and provide a sophisticated online experience that keeps them coming back.
- Lift AOV and drive revenue with dedicated credit lines for your buyers
Security
Balance complies with industry security standards, using advanced encryption technologies to keep your data and information safe in transit (using HTTPS with a RSA 2048 bit key and a signature algorithm of SHA256 with RSA) and at rest (data is encrypted using AES-256 encryption algorithm).
Your Payment Information
We never store full credit card numbers or banking credentials anywhere on our platform - only tokens we securely send to Stripe.
Upon checkout, the Balance hosted checkout will be displayed to the customer. The customer enters his or her payment information directly into our secure environment so that no customer data is ever entered into, or stored on, the Magento server. For more information, see our privacy policy.
Our payment processing partner, Stripe, has been audited by a PCI-certified auditor and is certified to PCI Service Provider Level 1. This is the most stringent level of certification available in the payments industry.
Balance meets level A Self-Assessment Questionnaire (SAQ).
We might also use Plaid to collect your buyers banking information. Plaid uses TLS for all information exchanges between the Plaid API, financial institutions, and us. They also encrypt sensitive data-at-rest whenever they store it using AES 256 encryption at object and volume levels.
Technical Specifications
Back to topSeller profile
Seller contact
Integrator
Current Version
1.4.2
Adobe Commerce platform compatibility
Adobe Commerce (cloud): 2.4 (current)
Adobe Commerce (on-prem): 2.4 (current)
Magento Open Source: 2.4 (current), 2.3 (obsolete)
Type
Stable Build
Updated
20 April, 2023
Categories
Extensions, Payments & Security, Payment Integration
Quality Report
Back to topAll tests were conducted on the latest versions of Adobe Commerce that existed for the compatible release lines at the moment of the extension submission. Latest versions of all other software were used, as applicable.
Release Notes
Back to top1.4.2:
- Compatible with Adobe Commerce (cloud) : 2.4
- Compatible with Adobe Commerce (on-prem) : 2.4
- Compatible with Magento Open Source : 2.3 2.4
- Stability: Stable Build
-
Description:
Support for Adobe Cloud
1.4.0:
- Compatible with Magento Open Source : 2.3 2.4
- Stability: Stable Build
-
Description:
- Merchant can now refund Orders
- Merchants can now Cancel an Order
- There’s a new version 2.1 for Checkout
- More payment methods have been added
1.3.6:
- Compatible with Magento Open Source : 2.3 2.4
- Stability: Stable Build
-
Description:
Fix production Balance SDK url
1.3.5:
- Compatible with Magento Open Source : 2.3 2.4
- Stability: Stable Build
-
Description:
Automatically sync Magento customer to Balance buyer
1.3.4:
- Compatible with Magento Open Source : 2.3 2.4
- Stability: Stable Build
-
Description:
- Set allowed payment methods when paying with terms
- Configure offered net days
- Fixed: order status is not updated
1.3.3:
- Compatible with Magento Open Source : 2.4
- Stability: Stable Build
-
Description:
Buyers can now qualify for net terms
Customer level net terms configuration
Restrict Balance payment method by customer group
1.2.3:
- Compatible with Magento Open Source : 2.4
- Stability: Stable Build
-
Description:
A full version of the checkout, supports auth capture and vendor payouts.
1.2.1:
- Compatible with Magento Open Source : 2.4
- Stability: Stable Build
-
Description:
New version utilizing new functionality like auth\capture.
1.0.3:
- Compatible with Magento Open Source : 2.4
- Stability: Stable Build
-
Description:
This version allow integrating Balance Hosted Checkout with Magento Platform.
Support
Back to topThe best place to start if you need help with a specific extension is to contact the developer. All Adobe Commerce developers have both a contact email and a support email listed.
Contact Vendor