The collaboration aims to offer merchants and marketplaces a customizable payments infrastructure, enabling them to tap into B2B cross-border opportunities, the companies said in a Tuesday (Feb. 6) press release.
Mangopay, established in 2013, provides modular payment infrastructure solutions that support various business models in the platform economy, the release said. With its programmable eWallet solution and end-to-end payment infrastructure, the company has assisted over 2,500 platforms and marketplaces. Mangopay’s payment services cover everything from pay-in to payout.
Sprinque, founded in 2021, facilitates frictionless purchasing between merchants and business customers, helping them expand globally, according to the release. By offering flexible net payment terms, Sprinque allows sellers to serve international buyers, while also managing risk, fraud and other financial operations. The company supports merchants across Europe and beyond.
The B2B marketplace industry has experienced growth in recent years, with reports suggesting an increase of up to 8.6 times since 2015, per the release.
The partnership aims to empower B2B marketplaces with tools and a range of payment methods, including the option to introduce buy now, pay later (BNPL) services for their B2B customers, according to the release.
PYMNTS Intelligence found that solutions like BNPL could help reduce complications in B2B payments. BNPL for B2B payments offers many of the same benefits as it does for individual consumers, but on a larger scale, according to the PYMNTS Intelligence report “Is BNPL the Next Driver for B2B Growth?”
Sprinque announced in June that it secured a debt facility to expand its pay-by-invoice solution across Europe.
The growing movement toward faster payments and interoperability is expected to revolutionize B2B and cross-border transactions, James Butland, U.K. managing director at Mangopay, told PYMNTS in an interview posted Jan. 23.
“What we do is enable businesses to pay in their local currency so there is no FX charge on top … there’s no surprise, and it takes away the complexity and opaqueness of using U.S. dollars or a third currency for buying and selling overseas,” Butland said.
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