Mondu Announces Split Payments for B2B E-commerce

Payments
27.09.2022 11:50 am

B2B payments company Mondu has introduced Split Payments, a solution that allows business buyers to divide their purchases into equal, interest-free payments.

Founded in late 2021, Mondu launched a BNPL for B2B solution for merchants and marketplaces. The company’s solutions are available to business customers in Germany and Austria, with further market expansion planned this year following Mondu’s $43m Series A investment round announced in May.

Mondu’s goal is to simplify the financial lives of SMBs so they can focus on their business. Its BNPL solution offers business buyers their favourite offline payment methods in B2B and flexible payment terms in an online B2B checkout.

As the B2B industry evolves and business purchases are steadily moving from offline to online, it's estimated that the B2B e-commerce market will more than double in value from $8.5tn in 2021 to $18.7tn in 2026. According to the State of the Connected Customer Report from Salesforce, 82 per cent of all B2B buyers now expect a B2C-like buying experience. Still, most merchants are falling short and have not fully transformed into an online business.

Malte Huffmann, Co-Founder and Co-CEO of Mondu, said, “We’re excited to introduce an instalment option for Mondu customers to offer their buyers, bringing even more flexibility to B2B e-commerce. We know that businesses want to have the same benefits that they experience as consumers shopping online, and this is the first in a series of new products we’re offering that support our vision to simplify the financial lives of SMBs. Offering payment flexibility is a major driver of any company’s growth. Instalments give business buyers control over their expenditure while allowing them to buy more which equals more revenues for online vendors. The rise in buyers’ expectations from the checkout process means it’s now more important than ever for merchants to provide buyers with a frictionless online payment experience with options.”

Mondu’s new Split Payment solution will provide merchants with the following benefits:

More sales: Increase conversion rates and average order values by letting their business customers choose when to pay at no extra cost. No lengthy applications. Instant online approval with 0 per cent interest.
Better cash flow: Get paid upfront without delay in settlement, while business buyers enjoy maximum payment flexibility.
Greater loyalty: Increase buyer retention by delivering a more convenient and flexible payment experience.
No risk: Offer instalments without any risk of non-repayment. Mondu takes on default risk and handles payment collection, while merchants are paid upfront.

Merchants can get set up quickly and safely using Mondu’s easy-to-install widget embedded in the checkout. Merchants can choose their favourite implementation method, no matter which tech stack they use: from e-commerce plugins to API integrations.