The cooperation is set to enable Mangopay B2B marketplaces to build a dynamic payment experience that aims to remove friction and keep business flowing in an easy manner, as Mangopay’s payment infrastructure is enhanced with Kriya's flexible trade credit and Pay Later solutions.
The announcement details that as the B2B marketplace industry continues to expand, the payment experience is considered a key differentiator. Through the partnership with Kriya, Mangopay looks to underscore its commitment to furthering innovations in the fintech sector, whereas Kriya’s dedication to facilitating simplified access to B2B payment and credit options is in alignment with Mangopay’s goal to provide a hassle-free, advanced payment infrastructure.
Business customers can benefit from a checkout experience that is tailored to their preferred payment methods and flexible terms, and platforms are provided with upfront payment, which helps ensure a more secure transaction. As such, enhancing Mangopay’s payout capabilities with a credit checkout solution is believed to help drive further global growth for marketplaces.
The collaboration is set to deliver an extensive proposition, adept at managing the multifaceted payment flows associated with B2B operations, which includes, but is not limited to, immediate payment options, deferred payment collections, efficient disbursement of funds to vendors, and handling marketplace operator commissions. With Kriya, business buyers are enabled to purchase goods and Pay Later for up to 90 days, whereas sellers receive the payments upon shipment of said goods, thus making the payment method a beneficial tool for the cash flow management of sellers and business buyers alike.
When commenting on the news, a Mangopay representative advised that in its strategic alignment with Kriya, Mangopay looks to reaffirm its dedication to furthering advancements in the fintech sector, saying that Kriya’s aim to facilitate simplified access to B2B payments and credit is resonant with Mangopay’s ethos of providing a streamlined payment infrastructure.
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