Parafin, an embedded finance company for platforms, announced a partnership with Tekion, innovator of the first end-to-end, AI-native platform serving the entire automotive retail ecosystem. Together, they launched Pay Over Time, a business-to-business (B2B) buy now, pay later solution for dealership business customers. Embedded directly into Tekion’s Automotive Retail Cloud (ARC) platform via Tekion Pay, Parafin Pay Over Time allows businesses to split their invoices and bills into biweekly installments, with approval in seconds at checkout.
Today, B2B buyers typically have two ways to cover business expenses: pay upfront, tying up cash needed for payroll, inventory, and day-to-day operations, or negotiate net terms, which are slow to establish and depend on supplier relationships. Pay Over Time gives buyers another option, letting them preserve working capital while paying over time.
What sets Pay Over Time apart is who qualifies. Underwriting is based on cash flow data rather than a personal credit score, allowing Parafin to underwrite businesses that traditional financing often overlooks. For dealerships, that means offering flexible payment options to more customers, not just those who fit a conventional credit model.
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Embedded in Tekion Pay alongside ACH and card, Pay Over Time lets business buyers:
- Choose Pay-in-4, Pay-in-8, or Pay-in-12 biweekly payment plans
- Link a business bank account for instant underwriting based on real bank transaction data rather than a personal credit score
- Get a decision immediately, with no credit bureau pull or personal guarantee required
“The way businesses pay each other hasn’t kept pace with the rest of commerce,” said Sahill Poddar, CEO of Parafin. “Consumers have come to expect flexible payment options at checkout, but businesses are still navigating invoices, net terms, and manual financing. Together with Tekion, we’re bringing that same modern experience to B2B.”
“Our mission is to connect every part of the automotive retail ecosystem—from dealer workflows to vendor payments,” said Jamie Fox, Senior Director and GM of Fintech at Tekion. “By embedding Parafin Pay Over Time directly into Tekion Pay, we’re making it possible for dealers to accelerate cash flow while giving their vendors the flexibility they already expect. It’s a win for everyone.”
SOURCE: Parafin
