How Mondu’s Buy Now, Pay Later solution boosted conversion and basket size in IONTO-COMED’s B2B online shop.

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For over 40 years, IONTO-COMED has been a leading cosmetics provider and partner of beauty institutes, hotel spas, and dermatologists alike. The company – based in Karlsruhe and Leipzig – employs nearly 200 people and is represented in 35 countries worldwide. Turnover is roughly €20-30 million, with most revenue in the DACH region coming from direct sales in the field and through its webshop. Over the years, IONTO-COMED has received numerous awards, most recently the European Health & Spa Award 2021.

The Challenge

B2B transactions are increasingly being made online – according to the 2021 World Supply Chain Finance Report, companies will make more than 50% of their purchases online by 2025. Meanwhile 95% of companies want invoice payment (i.e. Buy Now, Pay Later) as an option when buying online, which is the most popular payment method in B2B offline business. In IONTO-COMED’s webshop, this was previously only possible by request and entailed increased effort, costs, and risks. Their customers had to put up with a long waiting time before the order was shipped, negatively impacting conversion rate and sales in the webshop.

The Strategy

To meet the new demands of B2B e-commerce, Mondu’s Buy Now, Pay Later solution was implemented in IONTO-COMED’s online shop. The goal was to offer flexible payment methods to business customers, while also eliminating the associated default risks and operational overhead for IONTO-COMED.

The Results

Mondu’s Buy Now, Pay Later solution enabled IONTO-COMED to offer invoice payment with a 30-day payment term to every web shop customer. In doing so, Mondu covered the complete default risk and transferred the money after a few days, positively impacting IONTO-COMED’s cash flow.

Mondu replaced the outdated, manual, time-consuming credit check with one that takes place in real-time. This not only saved IONTO-COMED costs and resources, but also saved customers time and effort by providing immediate confirmation. The quick and easy process created a better shopping experience and directly impacted customer satisfaction, ultimately leading to higher conversion and more sales.

Already in the first month, the conversion rate on the IONTO-COMED web store went up by 21%, while basket sizes increased by 25%. With an acceptance rate of more than 90%. Buy Now, Pay Later from Mondu was well received by IONTO-COMED customers.

“The needs of our customers come first for us in IONTO-COMED. Invoice payment in our webshop was a clear demand, and we’re happy to see that delivering on our clients’ wishes also translates into our business growth.”

Julian La Fontaine, CEO of IONTO-COMED

About Mondu

Mondu is a Berlin-based Fintech company in the B2B payments space whose purpose is to simplify the financial lives of SMBs so that they can focus on business. Mondu provides a BNPL solution for B2B, which helps merchants and marketplaces to improve conversion rate and protect themselves against default risk, while alleviating the operational burden of collection and dunning. Business buyers benefit from payment flexibility that improves their cash flow and allows them better day-to-day business management. 

Interested in learning how Mondu can help your company? Reach out to us here

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