Paying upfront for large purchases can be challenging for many business customers trying to maintain a steady cash flow.
Last year, many companies attempted to increase their inventories in the face of unstable input goods supply chains and predicted cost increases. This measure led to an increase in demand for short-term business loans.
However, not only are bank loan applications time-consuming and onerous for buyers, they also have an adverse impact on buyers’ credit score. Many buyers are finding it challenging to secure approval for bank loans. Furthermore, the anticipated tightening of lending standards in 2023 will exacerbate the difficulty for numerous businesses in acquiring essential resources.
B2B payments is a growing point of frustration for buyers – 82% of all buyers now expect a more B2C-like buying experience with more flexible payment terms. A 2020 study found that only 20% of medium and 25% of large online webshops offer installment payments1.
While merchants want to offer more payment flexibility for their customers, they worry about operational burden, cost and the increasing risk of payment defaults and fraud.
Thankfully there is a better way.
After successfully launching Mondu 6 month Installments in October 2022, we’re thrilled to announce Mondu now offers 3, 6 and 12 monthly installments.
Installment Payments: Close bigger deals faster, across every sales channel
Mondu installments allows business buyers to divide their total purchase into business-friendly monthly payments. Buyers enjoy a flexible payment option that empowers them to purchase more and pay a fixed amount each month, while benefiting from improved cash flow. Mondu conducts credit and fraud risk checks in real-time to provide instant payment approval.
Offering installment payments with Mondu comes with powerful benefits for merchants:
- Boost order values: Increase conversion rates for large orders by letting your customers buy what they need and pay with business-friendly payment terms. No lengthy applications. Instant online approval with no hassle or paperwork.
- Boost cash flow: Attract more new customers and increase average order value to keep cash flowing in. Get the total purchase amount upfront with no delay in settlement.
- Reduce workload and risk: Offer installments without any risk of non-repayment. Mondu takes on default risk and handles payment dunning and collection, while merchants are paid upfront.
- Increase loyalty: Deliver a fast and convenient purchase experience that keeps customers coming back.
Seamless, secure, fast integration
Mondu enables swift and seamless integration of your web shop or e-commerce platform. Additionally, it offers non-technical integration for traditional sales channels, featuring multi-language support.
If you’re interested in learning more, contact us at sales@mondu.ai or book a demo.
