Paying upfront for large purchases can be challenging for many trade customers trying to maintain a steady cash flow.
In response to unstable supply chains for intermediate goods and projected cost rises, many companies attempted to increase their stockpiling last year, resulting in a rise in demand for short-term business loans1.
However, not only are bank loan applications time-consuming and onerous for buyers, they also have an adverse impact on buyers’ credit score. With many buyers struggling to get approval for a bank loan and lending standards expected to further tighten in 20232, it will become even more difficult for many businesses to purchase what they need for their business.
B2B trade payments is a growing point of frustration for buyers – 82% of all buyers now expect a more B2C-like buying experience3 with more flexible payment terms. A 2020 study found that only 20% of medium and 25% of large online online shops offer installment payments4.
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 trade customers 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 benefitting 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
With Mondu, you can integrate your online shop or e-commerce platform quickly and seamlessly, as well as have non-technical integration for traditional sales channels with multi-language support.
If you’re interested in learning more, contact us at sales@mondu.ai or book a demo.
