As part of Mondu’s effort to help B2B businesses reach their full potential, we’re thrilled to announce a new collaboration with Frankfurt-based Banking-as-a-Service provider Raisin Bank.
This partnership is key to developing our Buy Now, Pay Later solution for online B2B merchants and marketplaces, which enables business buyers to choose invoice payment with flexible terms when using an online checkout. Raisin will help address regulatory requirements for factoring, while also providing payment and account services.
Raisin is well-known throughout Europe’s fast-growing fintech community for offering a wide range of innovative, tailored, and reliable services, including expert advice and efficient Banking-as-a-Service solutions. As a fronting and service bank with a full banking license, Raisin will help Mondu implement our Buy Now, Pay Later solution for online B2B checkouts.
Addressing the growing demand for B2B payment innovation
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.
