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I would love it if the EU or government would enforce equal payment terms for whole company. Lets say a shop wants to have a net 30 terms with their suppliers,

I would love it if the EU or government would enforce equal payment terms for whole company. Lets say a shop wants to have a net 30 terms with their suppliers, then they should also offer net 30 terms for their customers. This would equalize power dynamics. The large corp shouldn’t be allowed to demand immediate payment on one side and then just significantly delay payments on the other side.

legitster 4y ago
I think it would be hard to sell regulators on "make business-to-business more egalitarian at the expense of consumers".
reillyse 4y ago
So I’d sell products to my customers (say bags of coffee) and then 30 days later come by their house (charge their credit card) to collect? This is a terrible idea. Half of the people wouldn’t have the money and your company would become a debt collection agency. You’d be forced to charge at least 3X for the product.
- Dylan16807 4y ago
  That's the point. If you don't want that, then don't do it to your suppliers.
  - interactivecode 4y ago
    indeed. They should realize how ridiculous the whole net 30 days is .
- astrange 4y ago
  You’re already giving the customers net 30 by accepting credit cards. Offering BNPL/afterpay would be another way to do it.
  - fbdab103 4y ago
    No, the credit card company is on the hook for your debt and will pay the business. The credit card company will be the one coming after you in 30 days looking to be made whole.
    - toast0 4y ago
      The merchant isn't being paid immediately either though. I don't think Net 30 is unusual for merchant accounts, but it's been a long time since I was exposed to details of payment processing (knock on wood)
caseysoftware 4y ago
> they should also offer net 30 terms for their customers. Consumers already have Net 30 terms via credit cards. The difference is that the shop isn't waiting for you to pay and the credit card company takes on the risk.
- interactivecode 4y ago
  quite a significant difference for the complete population of Europe where basically no everyday purchases are made by credit card
  - Ekaros 4y ago
    That is very country specific. I could do almost all of my purchases with credit card if I wished. Or with buy now pay later. I don't really care, I pay my full balance on the CC at the end of the month anyway.
  - NavinF 4y ago
    That's on them. If they want net 30, they can get it.

legitster 4y ago

I think it would be hard to sell regulators on "make business-to-business more egalitarian at the expense of consumers".

reillyse 4y ago

So I’d sell products to my customers (say bags of coffee) and then 30 days later come by their house (charge their credit card) to collect? This is a terrible idea. Half of the people wouldn’t have the money and your company would become a debt collection agency. You’d be forced to charge at least 3X for the product.

Dylan16807 4y ago
That's the point. If you don't want that, then don't do it to your suppliers.
- interactivecode 4y ago
  indeed. They should realize how ridiculous the whole net 30 days is .
astrange 4y ago
You’re already giving the customers net 30 by accepting credit cards. Offering BNPL/afterpay would be another way to do it.
- fbdab103 4y ago
  No, the credit card company is on the hook for your debt and will pay the business. The credit card company will be the one coming after you in 30 days looking to be made whole.
  - toast0 4y ago
    The merchant isn't being paid immediately either though. I don't think Net 30 is unusual for merchant accounts, but it's been a long time since I was exposed to details of payment processing (knock on wood)

caseysoftware 4y ago

> they should also offer net 30 terms for their customers. Consumers already have Net 30 terms via credit cards. The difference is that the shop isn't waiting for you to pay and the credit card company takes on the risk.

interactivecode 4y ago
quite a significant difference for the complete population of Europe where basically no everyday purchases are made by credit card
- Ekaros 4y ago
  That is very country specific. I could do almost all of my purchases with credit card if I wished. Or with buy now pay later. I don't really care, I pay my full balance on the CC at the end of the month anyway.
- NavinF 4y ago
  That's on them. If they want net 30, they can get it.