Product Update: March 2025

This month, we’re excited to roll out enhancements to streamline bank payments and improve our credit application experience—plus new data highlighting the impressive impact of our Dynamic Credit Management capability on buyer spend.

Let’s dive in.

Introducing Instant Bank Connection via Real Time Payment (RTP) Rails.

Let buyers instantly set up ACH debit payments with a seamless, secure experience.

Market adoption of direct debit (ACH) has historically been low, largely due to the high-friction setup process. In B2B, most users don’t have access to their bank credentials, making it difficult to connect accounts through flows that require bank account login credentials, such as Plaid’s standard method. The alternative account connection method, micro deposits, doesn’t require credentials but takes several days to complete verification. While both these methods are still supported, there’s now a faster, lower-friction alternative.

This new capability makes ACH debit as fast and easy as credit cards for your buyers—while being more cost-effective for your business. It’s powered by Real-Time Payment (RTP) rails, a modern payments infrastructure that enables secure, instant bank-to-bank transfers, 24/7.

While real-time payments are gaining global momentum for their ability to move money in seconds and make funds available immediately, a cutting-edge application of this technology is using RTP rails to instantly verify bank accounts—transforming a multi-day microdeposit process into a seamless, real-time experience. This approach allows us to verify bank accounts instantly, securely, and without requiring credentials.

How It Works:

• Credential-Free: Buyers can connect by entering their account and routing numbers—no login required.

• Instantly Verified: A penny is sent via RTP to verify the account in seconds, not days.

• Secure by Design: Sensitive credentials are never shared, and verification happens through a highly secure network.
  
  

  

This feature is live for select merchants. Want access? Reach out to your account executive to get started.

Streamlined Net Terms Application with OTP.

A more intuitive flow aligned with the latest digital verification standards.

We’ve improved the activation step of the credit application process to create a smoother experience for buyers approved for net terms.

After approval, buyers are prompted to verify their email and phone number and set up a payment method. The updated flow follows the latest digital verification standards—offering a familiar, in-tab experience that keeps buyers engaged from start to finish.

Here’s how the new OTP flow works:

• From the approval screen, buyers click Activate to continue.

• This triggers an email with a 6-digit verification code and moves them to the email verification step—all in the same tab.

• Buyers retrieve the code from their inbox and enter it right on that page, without being redirected or opening new tabs.
  
  
  

  

The upgraded flow is now live—no action required on your end.

Buyers Are Spending 56% More with Balance’s Dynamic Credit Management.

Unlock buyer growth automatically, without manual credit management.

Our Dynamic Credit Management capability increases buyers’ credit limits automatically based on real-time data—specifically, repayment behavior and credit utilization. That means more purchasing power for your buyers, with no support overhead.

The Results Are In:

This capability is driving meaningful results for both buyers and merchants:

• On average, buyers grow their monthly spend by 56% within three months of their first increase.

• 84% of buyers increase their spend after an automatic credit limit increase.

Dynamic Credit Management is live for all merchants. 

Enhanced Support for More Buyer Types.

Nonprofit and Government Entity options now available in the credit application flow.

As the range of businesses using Balance continues to grow, so does the variety of business buyers they serve. To better support this diversity, we’ve expanded the Business Type options in our credit application flow to include “Nonprofit” and “Government Entity.”

These organization types have always been eligible for net terms through Balance, and this update ensures the application process reflects the full spectrum of buyers using the platform-making it more intuitive for nonprofits and government organizations.

This change is now live.