B2B Buy Now, Pay Later
56% of B2B buyers feel a gap exists between the existing experiences offered by B2B sellers and their evolving needs for purchasing. More people want a consumer-like experience in a business setting, and more solutions must be digital and seamless.
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 B2B offline business payment method.
At the same time, according to McKinsey, 68% of sellers say their sales teams experience increased challenges and conflicts because they are not properly equipped to sell through multiple channels. Merchants are also limited in offering financing solutions and are burdened with manual processes such as risk checks, receivables management, collections and dunning.
Mondu turns payments into a growth engine for every business. Business customers can purchase and pay when they want, and merchants and marketplaces enjoy higher conversion rates and order value without the operational burden or the risk associated with default payments.
Mondu is delivering a comprehensive Buy Now, Pay Later solution, providing business customers with various products to fit their needs whether they are purchasing online or offline.
Mondu is changing the B2B payments ecosystem. Mondu’s BNPL solution simplifies business-to-business payments and enables any B2B company to grow quickly and safely.
With Mondu, merchants and marketplaces can offer business customers the most popular B2B payment methods and flexible payment terms across sales channels, from online checkouts to field and telesales. Mondu’s BNPL products include invoice payments, installments, and digital trade account.
Companies that work with Mondu can increase sales by offering the best payment terms to their buyers and enjoy a stable and predictable cash flow thanks to upfront payments. They are also protected from default risk and save the hassle of collections and dunning, enabling them to focus on their core business and scale faster.
This yields returns in more revenue due to a higher conversion rate, higher average baskets, and increased customer satisfaction.
Mondu distinguishes itself with its high approval rates of up to 90 per cent and its customisation flexibility for individual merchant needs.
Mondu is increasingly being recognised as a market leader. Its growth in a short period has been exceptional, from an idea in August 2021 to a company serving multiple markets in Europe with a growing range of products and rapidly increasing customer demand. Mondu is now available in Austria, Germany, the Netherlands, and the UK but only to buyers in France and Belgium.
Mondu saw exceptional growth this past year, increasing clients by 350% and revenues by 440%.
It is proud to work with businesses that want to provide the best payment options that allow all involved to grow. From Notebooksbilliger to Orderchamp and PC specialist, Mondu has gained the trust of leading retailers across the markets in which it operates.
Mondu's team read the market, wow the market, and will win the market. Its vision is to become the financial services platform of choice for SMBs in Europe and beyond.
In the past year, Mondu has significantly broadened its BNPL solution.
It expanded its online checkout products to include invoice payment with flexible net terms (up to 90 days) and diverse installment options of 3, 6 and 12-month installments.
Adding to that, Mondu launched a Digital Trade Account product. Merchants can offer a simplified shopping experience that drives purchase frequency and buyer spending. Customers are given tailored purchasing power, allowing them to make multiple purchases over time, consolidate them into one statement, and defer the payment within a predetermined period. With that, Mondu maintained its value proposition for the sellers - paying them out after each order, guaranteeing their cash flow and protecting them from defaults while significantly simplifying financial operations for the buyers and extending their payment terms.
Mondu also launched a variety of BNPL products in offline sales channels. Whether selling on the phone, by email, or on-site, Mondu offers the same payment flexibility it created online. With this launch, Mondu empowers B2B sales teams to offer the leading payment methods and get the most out of every customer interaction - in a multichannel sales setting. This expansion allows merchants to digitise their offline payments and provide the utmost payment flexibility with real-time credit checks and approval without risk.
Trotec, an international company headquartered in Heinsberg, specializes in developing customized air conditioning solutions.
It sells high-quality products and offers tailor-made solutions for customers, establishing itself as a reliable partner in both the B2C and B2B markets.
However, it noticed a decline of 20% in purchases in B2B primarily due to the introduction of 3D-Secure procedures and 2-factor authentication methods, making the payment process complex.
Another reason is the general change in payment preferences in B2B. A survey found that for 85% of B2B buyers, the buying experience is as important as the product. For over 90%, a positive buying experience is closely linked to flexible payment terms.
To increase the level of its B2B purchases, Trotec had to meet the wishes of its business customers for BNPL payment methods like those in B2C.
Trotec looked for an experienced payment service provider and chose Mondu, which convinced them with its focus on the B2B sector: “Mondu stood out in the selection process due to the simple user interface, and UX offered to the customer”, says Trotec.
With Mondu, Trotec found a payment service provider that meets the company's and its customers' requirements. The results of the cooperation have exceeded expectations. Within a very short period, Trotec’s B2B customers used Mondu’s payment solutions 200% more than expected.
With the introduction of Mondu, Trotec’s average order values increased. Invoice payment significantly increased the purchasing power of the customers: those who use a BNPL option from Mondu order, on average, 39% higher values of goods compared to other customers.
The decision to rely on Mondu has proven to be an absolute win and contributes significantly to the success of Trotec’s B2B online business.
“We hope to expand our B2B e-commerce sales throughout the whole group (Trotec/Dantherm) in the future with Mondu as an excellent partner.” – Joachim Ludwig, MD Trotec GmbH
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