Mollie Launches In3 Buy Now, Pay Later Payments
- 18.05.2022 09:15 am
Mollie merchants to be able to offer new payment method for its Dutch customers
Mollie, one of the fastest growing payment service providers in Europe, and in3, a leading Dutch Buy-Now-Pay-Later (BNPL) fintech business, today announced its long-term partnership to offer merchants access to in3’s BNPL payment method in the Netherlands. Merchants located in other countries can also accept this new payment method for its Dutch customers. The partnership includes the possibility of future expansion in Germany and additional European countries too.
There is a growing market and demand for BNPL methods for consumers and merchants alike. In3, which recently raised €81 million in a Series B funding, is a payment method that offers consumers the ability to pay for purchases in three interest-free instalments via iDEAL - the most popular local payment method in the Netherlands. The first instalment is paid upfront, and the second and third instalments are repaid within 30 and 60 days respectively. There are zero hidden fees or penalties for late payments, and no credit registration is required. After the first payment is received, there is a guaranteed payout of the full order amount, which takes away the merchant’s risk of not getting paid for a delivered product or service.
“Shoppers don’t always have the available funds to pay for what they want, when they need it. By allowing for more flexibility, BNPL can increase conversion rates and the average order value of purchases,” said Ken Serdons, Chief Commercial Officer of Mollie. “We are excited to work with in3 and offer our customers an alternative interest-free BNPL payment method with a guaranteed payout. Additionally, in3 also highly values the importance of localisation when it comes to payments, which is a key and core value of Mollie. We look forward to exploring similar opportunities abroad with in3.”
“We are delighted to partner with Mollie and offer its customers in3, which provides the Dutch market an alternative BNPL solution via its most loved payment method, iDEAL,” said Hans Langenhuizen, CEO of in3. “Not only does Mollie share a lot of similar core values with us, but it also processes a large share of the online payments traffic in the Netherlands, so it is a very important partner for us strategically. We have already received dozens of requests from Mollie’s customers who are keen to offer in3 - a simple and flexible solution.”