Spryker’s platform-as-a-service solution enables businesses to create B2B, B2C and marketplace commerce experiences, the companies said in a Tuesday (Aug. 29) press release emailed to PYMNTS. Mondu offers a buy now, pay later (BNPL) B2B solution for merchants and marketplaces. Its flexible payment solutions, including net terms and installments, are available for online checkouts, in-person transactions and telesales.
Through this partnership, Mondu’s payment solutions will be integrated through Spryker’s application programming interface (API)-based modules, allowing clients to offer flexible payment options to their B2B buyers, according to the release.
One of the key features of this collaboration is the availability of Mondu’s BNPL solutions to Spryker customers, the release said. These solutions include payment upon invoice, Single Euro Payments Area (SEPA) direct debit, and installments, providing businesses with the flexibility to design a payment experience that aligns with their clients’ expectations.
Matthias Letzelter, the head of partnerships at Mondu, said in the release that both Mondu and Spryker share a common goal of helping businesses focus on growth. By combining Spryker’s platform capabilities with Mondu’s payment solutions, businesses can increase sales and revenue, improve cash flow and enhance operational efficiency, Letzelter said.
Manishi Singh, senior vice president of app composition platform at Spryker, added that this integration of payment solutions and composable commerce approach will provide customers with an optimal purchasing experience. Singh said in the release that the partnership between Mondu and Spryker aims to improve the overall customer experience while maintaining the flexibility needed to adapt to changing customer needs.
BNPL for business has been gaining traction in Europe, buoyed by increasing funding rounds and partnerships. For example, Mondu added $13 million to its Series A round in January, bringing the total raised in the round to $56 million. The company said at the time that it would use the funds for product development and to further its European expansion.
Companies are also working to automate interactions with vendors in customer supply chains, eliminating accounts payable (AP) paperwork, Spryker CEO Boris Lokschin told PYMNTS in an interview posted in August 2022.