This new collaboration brings together Mondu’s B2B payments solutions and Mangopay’s modular and flexible payment infrastructure for marketplaces and platforms, the companies said in a Tuesday (Dec. 5) press release.
“At Mangopay, we’re committed to finding new and innovative ways to help our platform customers create and operate payments infrastructures that will help their businesses to scale,” Luke Trayfoot, chief revenue officer at Mangopay, said in the release.
Mangopay, founded in 2013, supports multiple business models in the platform economy with its modular payment infrastructure, according to the release. Over the years, the company has assisted more than 2,500 platforms and marketplaces through its programmable eWallet solution and end-to-end payment infrastructure, covering everything from pay-in to payout.
Mondu initially launched in Germany in 2021 with a buy now, pay later (BNPL) B2B solution for merchants and marketplaces, the release said. Since then, it has expanded its services to Austria, the Netherlands and the United Kingdom, and is also available to buyers in Belgium and France. The company’s flexible payment solutions include net terms, installments and digital trade accounts for online checkouts, as well as in-person and telesales.
The partnership between the two companies aims to empower B2B marketplaces with robust tools and a choice of payment methods, including the increasingly popular BNPL service, to manage their payment flows with more flexibility, per the release.
“Mondu and Mangopay are completely aligned in our vision to simplify the payments process for marketplaces and empower the end customer to purchase and pay how and when they want,” Malte Huffmann, co-founder and co-CEO of Mondu, said in the release.
B2B payments are fueling the uptake of BNPL in Europe, PYMNTS reported in February. Buoyed by increasing funding rounds and partnerships, BNPL has been gaining traction in the region.
PYMNTS Intelligence has found that BNPL can level the playing field when it comes to B2B payments, applying the same principles to the corporate sector that made it so popular for consumer transactions.
By splitting large payments into smaller installments, BNPL can help corporates navigate the pressures of acquiring inventory and raw materials to keep their businesses viable and manage costs, according to the PYMNTS and Splitit collaboration, “Is BNPL the Next Driver for BNPL Growth?”
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