About Mondu
Mondu is driving innovation in B2B payments. By bringing B2B payments up to par with B2C and putting customers in the heart of the payment flow, Mondu ensures a seamless and state-of-the-art experience.
Mondu’s solution enables business customers across Europe and the UK the most popular B2B payment methods and flexible payment terms in a multi-channel setting, Mondu supports your business across every sales channel..
Mondu’s credit check algorithms run in the background and credit approval decisions are taken within 0.2 seconds – bringing you flexible payment methods in real-time. The credit checks do not impact the creditworthiness of you or your business.
Payment Methods
Mondu currently offers three payment methods – pay later via bank transfer, pay later via direct debit and installment payments. The availability of these payment methods are subject to the online store you are shopping with and are described in detail below.
Pay Later via Bank Transfer
The Rechnungskauf or invoicing is a frequently used payment method in B2B purchases. It allows you to purchase and receive goods or services before having to pay for them. Once you have placed your order, you are invoiced only after the goods/services have been shipped. After which you pay whenever you want within the attractive payment terms period offered to you. Most importantly, we do not charge you any fees for this payment method.
Instructions and bank details concerning your payment to Mondu are available on your invoice or the payment detail email that you will receive from Mondu. If there have been any adjustments with your order, our customer success team will work alongside you and the retailer you shopped with to ensure that you are invoiced correctly. In case you have already paid, please reach out to the retailer you shopped from to arrange the refund.
Pay Later via SEPA Direct Debit
Mondu’s direct debit payment methods combine the best of both worlds – comfortable payment terms upward of 30 days and automatic debiting of invoice amount on the due date. With this payment method, we invoice you once the goods/services have been shipped and collect the payment through a SEPA direct debit on the due date. Moreover, we keep you informed about your upcoming payment and send you a direct debit notification 7 days in advance via email. As always, our customer success associates are there to provide you with any clarification regarding your payments. The cherry on the cake? This payment method too is currently offered at no additional costs to you.
Installment Payments
Paying upfront for large purchases can be challenging for many business customers trying to maintain a steady cash flow. Mondu provides a more business-friendly way to pay through installment payments, which enables you to buy what you need and divide your purchase into 3, 6, or 12 monthly payments.
Mondu’s installment payments provide you with greater control over your business’ cash flow, with payments collected automatically each month through direct debit. We collect payments in the beginning (1st) or the middle (15th) of the month and especially only after giving you a prior notice of the outstanding transaction.
Installment payments may attract a minimal service fee, which matches your preferred installment plan. If applicable, the service fee is added to the total cost of your purchase and paid as part of your first installment to a separate Mondu account.
Identity and Credit Checks
In order to enable the above payments for you, Mondu conducts checks of your identity and creditworthiness using internal and external data sources. These checks are conducted for every transaction and acceptance cannot be guaranteed even though there might be instances of acceptance in past transactions.
Before every purchase via Mondu we conduct credit checks based on the information you provide about yourself and your business. We are required by the law to do these checks in-order to ensure responsible lending. In-line with our company vision to simplify the financial lives of businesses like yours we ensure that our services do not push your business into over-indebtedness. Additionally, we assure you that your data is only used for identification and credit checking purposes.
Another important aspect of our credit checks are your past-transactions with Mondu. We look at your order history and check for unpaid invoices. In case there are any unpaid invoices which are considerably past their due date, we will have to unfortunately restrict future orders until the invoice has been cleared.
What happens if I can’t pay on time?
Once you have paid with Mondu for your purchase, we reach out to you via email in regular intervals to ensure that you are well informed about your payment status. In case of automatic payment methods like SEPA direct debit, we inform you well in advance regarding the upcoming direct debit payment that will be charged to the account you provided.
In the scenario where we have not received an outstanding payment – we contact you in order to clarify and facilitate the open payment. If the payment is still unsuccessful, we move your invoice into a dunning phase. During this phase, we communicate to you the amount due and the steps to be followed to settle the outstanding payment. Please note that once your invoice moves into dunning, there will be an additional charge on your invoice. In the situation where the payment is overdue after the dunning phase, the invoice is moved to debt collection. Moreover we unfortunately will not be able to provide you with our payment methods until the previous dues have been cleared.
In the scenario where we could not debit the outstanding payment – we contact you in order to clarify and facilitate the open payment. If the payment is still unsuccessful, we move your invoice into a dunning phase. During this phase, we communicate to you the amount due and the steps to be followed to settle the outstanding payment. Please note that once your invoice moves into dunning, there will be an additional charge on your invoice. In the situation where the payment is overdue after the dunning phase, the invoice is moved to debt collection. Moreover we unfortunately will not be able to provide you with our payment methods until the previous dues have been cleared.
