With the B2B industry evolving and business purchases moving from the offline space to the online one, the B2B ecommerce market is expected to double in value from USD 8.5 trillion in 2021 to USD 18.7 trillion in 2026, with a Compound Annual Growth Rate (CAGR) of approximately 18.70% between 2021 and 2026.
Mondu company representatives have stated in their press release that the introduction of the instalment payment option is directed at bringing flexibility to the B2B ecommerce space. Having the option of carrying out payments flexibly through means of instalments gives business buyers control over their expenditure, while simultaneously allowing them to buy more and increase revenue for online vendors.
Mondu’s newly introduced Split Payments solution is directed at helping merchants with the following:
Increase sales by allowing business customers the option of choosing when to pay with no additional cost, lengthy applications, and waiting times for online approval.
Improve cashflow by getting paid upfront, with no settlement delay, with business buyers also having the option of payment flexibility.
Increase buyer retention by delivering flexible payment options
Offer risk-free instalments, as Mondu takes on default risk and handles payment collection, while merchants are paid upfront.
Merchants can get set up by using Mondu’s widget embedded in the checkout and can choose their preferred implementation method, ranging from ecommerce plugins to API integrations, regardless of the tech stack they use.
Mondu enables merchants and marketplaces to offer their business customers B2B payment methods such as purchases on invoice and SEPA direct debit, as well as flexible payments terms when it comes to online checkouts. By having their B2B payment transactions simplified, small businesses can redirect their focus on expansion.
In April 2022, Mondu announced their partnership with Germany-based Banking-as-a-Service (BaaS) provider, Raisin Bank, a partnership that allowed Mondu to offer a Buy Now, Pay Later (BNPL) solution to its online B2B merchants and marketplaces. The BNPL solution is directly integrated into the checkout process of the merchant portals, whereas B2B customers can choose flexible payment dates. Raisin Bank helps ensure regulatory requirements for factoring and provides payment and account services.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now