B2B payments company Mondu is to collaborate with Mangopay, a modular and flexible payment infrastructure provider for marketplaces and platforms. Through the partnership, the two companies will offer marketplaces across Europe a proven, modular payments infrastructure which can be tailored to meet their needs, with popular B2B payment methods and flexible payment terms.
Mondu first launched in 2021 in Germany with a Buy Now, Pay Later (BNPL) B2B solution for merchants and marketplaces and has since expanded to Austria, the Netherlands and the UK, and is available to buyers in Belgium and France. Its flexible payment solutions include net terms, instalments and digital trade accounts for online checkouts as well as in-person and telesales.
Founded in 2013, Mangopay supports multiple business models in the platform economy with its modular payment infrastructure. The company has supported over 2,500 platforms and marketplaces through its programmable e-wallet solution and end-to-end payment infrastructure which covers everything from pay-in to payout.
With market reports suggesting that the B2B marketplace industry has grown by as much as 8.6 times since 2015, the payment experience continues to play a key role in the growth of businesses operating in the sector. The collaboration between Mangopay and Mondu aims to empower B2B marketplaces with robust tools and a choice of payment methods to manage their payment flows with more flexibility, including those looking to introduce a buy now, pay later service to their B2B customers.
Luke Trayfoot, Chief Revenue Officer at Mangopay, said: “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. Partners such as Mondu are an important part of our strategy, and collaborations like this further strengthen our proposition for B2B marketplaces and platforms. We’re delighted to form this new partnership with Mondu to offer B2B marketplaces more flexibility and easy access to popular payment methods such as buy now, pay later.”
Malte Huffmann, Co-Founder and Co-CEO of Mondu, added: “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. Payments play a key role in creating a seamless customer experience, and it’s through this that B2B marketplaces can grow sales volume through improved conversion rates and higher order values, helping to drive business growth. Mangopay provides a fantastic infrastructure service to its clients and we’re excited to partner with them.”