When it comes to payments, safety and security are paramount. With this in mind, we’re thrilled to announce a new partnership with leading payment intelligence company Fraugster, who will help us develop the best Buy Now, Pay Later solution for B2B transactions.
Fraugster enables the world’s leading merchants to intelligently manage the impact of fraud to minimize the costs of fraud, maximize revenue and improve customer experience. The collaboration will enable us to amplify our in-house, AI-based credit risk engine with additional data insights. They’ll support Mondu with performance monitoring, alerts, rules and rule simulations, and linking analysis to keep us one step ahead of emerging fraud patterns.
“We are happy to support Mondu, a fast-growing Berlin company, with our scalable fraud management solution,” says Fraugster CEO Christian Mangold.
Adapting payment methods for the digital age
While the B2C payments space has experienced incredible innovation in the last decade, advancements in the B2B payments space have lagged behind.
Invoice payment, in which goods or services are paid for only after they’ve been received, has long been the industry norm, but these transactions are largely still carried out offline. This is despite the fact that almost 95% of B2B businesses want invoice payment offered as an option when buying goods in an online shop.
Mondu’s solution brings the preferred payment methods of B2B business into the online world. By offering Buy Now, Pay Later to their business buyers, merchants and marketplaces can enjoy higher conversion rates and revenues, fast payouts, and a lower operational burden. Buyers, meanwhile, benefit from extended credit and flexible payment terms, significantly helping them with their cash flow management.
The importance of credit risk evaluations to Buy Now, Pay Later
Importantly, Mondu enables merchants and marketplaces to offer Buy Now, Pay Later to all clients – existing and new – thanks to our in-house credit risk engine. Powered by Fraugster’s AI, Mondu’s engine runs in real-time before a sale is concluded, ensuring a seamless checkout experience for customers.
“We are proud to strengthen the Berlin-based payment industry by partnering with our local neighbors Fraugster,” says Mondu Co-Founder & CTO Gil Danziger. “Fraugster’s solution is a great complement to our in-house AI-based credit risk engine.”
This collaboration is an important step in offering B2B customers their favorite payment methods when buying online, and we’re thrilled to have a trusted partner by our side.