Name of the product or service

Buy Now, Pay Later for B2B Checkouts

Votes: 94

Product or service description

In Germany alone, 95 per cent of businesses want to use deferred payment methods when shopping online. Still, only 84 per cent of B2B online stores offer at least one deferred payment option at checkout, and only 45 per cent offer deferred payment to all types of customers, new and existing.

For the average B2B merchant, online transactions account for a quarter of their overall business, which often is still dependent on traditional sales channels with personal interaction via phone or email, especially for more complex and high-value goods and services.

Mondu provides merchants and marketplaces with the most popular B2B payment methods, and flexible payment terms through its Buy Now Pay Later for B2B, Split Payments, and Offline to Online products. Allowing business customers online and offline to benefit from BNPL for B2B without the financial risk and the operational cost to the merchant or marketplace.

From the customers’ perspective, Mondu brings B2B payments up to par with B2C payments, putting the customers in the heart of the payment flow and ensuring they have a seamless, modern and state-of-the-art experience.

The result is a win-win story: business customers have the power to purchase what they want and pay when they want, which translates to a higher conversion rate and basket size for the suppliers who made this payment option available.

Distinction from the competition

With Buy Now, Pay Later for B2B by Mondu, B2B merchants and B2B marketplaces can offer deferred payment options to their customers and profit from the upside in revenue without the financial and operational burden. Mondu runs a real-time risk check, covers default risk, and does the collection and dunning on behalf of the seller.

This yields returns in the form of more revenue due to a higher conversion rate, higher average baskets, and increased customer satisfaction.

Mondu’s new Split Payments solution offers more sales, better cash flows, greater loyalty, and no risk on non-repayments.

Mondu also provides a solution for unified commerce. B2B merchants still depend on traditional sales channels with personal interaction via phone or email, especially for more complex and high-value goods and services. Mondu’s omnichannel solution digitizes B2B payments through a single platform, smoothly integrated with related workflows in a merchant’s internal sales and finance processes.

Mondu distinguishes itself with its high approval rates of up to 90 per cent and its customisation flexibility for individual merchant needs. Further differentiation is the fully-fledged marketplace readiness.

Product or service innovations

Since launching Buy Now, Pay Later for B2B checkouts, Mondu has introduced Split Payments, a solution that allows business buyers to divide their purchases into equal, interest-free payments. Most recently, it has introduced offline-to-online, enabling real-world customer interactions to benefit from the BNPL online experience.

Customer case study

IONTO-COMED, a German medium-sized manufacturer in the field of apparative cosmetics, was faced with the challenge of giving its customers (typically beauticians and SPAs) payment terms both in the B2B webshop and in sales through sales representatives to increase sales sustainably.

In IONTO-COMED’s webshop, BNPL was previously only possible by request and entailed increased effort, costs, and risks. Its customers had to put up with long waiting times before the order was shipped, negatively impacting conversion rate and sales in the webshop.

Mondu’s Buy Now, Pay Later for B2B and offline-to-online solution enabled IONTO-COMED to offer invoice payment with a 30-day payment term to every 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 saved IONTO-COMED costs and resources and 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.

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%.

Positive feedback & testimonials

“We have gained customers who placed large orders and used Chefslist just because they could use BNPL. We’ve directly seen an effect on the buyer side that the tool is very popular and a clear value add.” - André Klein, Co-Founder and Managing Director of Chefslist

“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


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