Revolutionizing B2B Payments: Mondu and Mangopay Unveil Strategic Partnership for Enhanced Marketplace Experiences | 2023 #36
Weekly news up to Thursday, 7th of December 2023
Hi There, you fellow Payments Enthusiast!
Welcome back to this fresh newsletter, a dedicated Payments bulletin packed with Digital Payments and PayTech-related news!
Alright, let’s dive into this week’s hot payments news! 🚀💸
📣 This week’s main topic:
Mondu partners with Mangopay to bring flexible payments infrastructure to B2B marketplace businesses in Europe
👉What happened?
· Mondu and Mangopay Collaboration: Mondu, a dynamic B2B payments company, has recently collaborated with Mangopay, a modular payment infrastructure provider, to introduce Buy Now, Pay Later (BNPL) options for B2B businesses.
· Integration for Flexible Solutions: Mondu will leverage its flexible payment solutions in conjunction with Mangopay's modular infrastructure to support B2B marketplace enterprises, offering tailored payment terms and a diverse range of payment methods.
🤔Why is this relevant?
· B2B Market Growth: The B2B marketplace industry has witnessed an impressive 8.6 times growth since 2015. Mondu and Mangopay's partnership aims to empower B2B marketplaces by providing tools and diverse payment options, addressing the evolving needs of this rapidly expanding sector.
· Enhancing Customer Experience: Recognizing the pivotal role of payments in customer experience, the collaboration seeks to simplify payment processes for marketplaces. This aligns with global trends where seamless digital payments contribute significantly to increased sales volume, conversion rates, and order values, ultimately fostering business growth.
· Strategic Focus on FinTech Innovation: Against the backdrop of recent developments in FinTech and digital payments, Mangopay underscores its commitment to finding innovative solutions for platform customers. The partnership with Mondu enhances their proposition for B2B marketplaces and platforms, contributing to the ongoing evolution of digital payments on a global scale.
👉 You can read the full release about the partnership over here
Now over to you: do you think these kind of co-ops will revolutionise B2B payments, and in what way?
Happy to read your thoughts and vision on the interesting future of B2B payments, feel free to share them below👇
💡Any other notable things happened in Payments?
⭐️ Klarna has fully integrated SOFORTüberweisung into its platform
🤝 JIVF partners with OpenWay
I hope these quick bites have brought you up to speed again, and let’s keep a close eye on ‘Payments’ for the week to come..;-)
Cheerio and until the next,
Wouter
Onwards to the other payments news!
REPORT
In times of high prices, high interest rates and high economic uncertainty, the “Buy Now, Pay Later” model has emerged as a popular alternative to credit cards or other digital payment methods. According to FIS’ Global Payments Report 2023, BNPL accounted for 5 percent of global e-commerce transaction volume last year and is expected to grow at a CAGR of 16 percent between 2022 and 2026.
👀 NEWS HIGHLIGHT
Adyen, the global financial technology platform for many of the world's leading companies, is proud to announce the company is strengthening its global partnership with Klarna, the AI powered global payments network and shopping assistant. In this new partnership, Klarna will benefit from Adyen’s acquiring capabilities to simplify card payments for Klarna's 150 million consumers and 500,000 retail partners globally.
📰 ARTICLE
Altman, at 38, has spent the last decade making angel investments, building a network of promising startups. His early bets on around 400 companies, including Reddit, Stripe, and Asana, are noteworthy.
Let’s dive into his FinTech portfolio
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🔦 PAYMENTS HIGHLIGHTS
⭐️ Emerchantpay and Rubean go to market with SoftPOS package.
⭐️ Mangopay brings seamless payment experiences to Maisons du Monde.
⭐️ Klarna freezes hiring as chief bets AI can do the job instead.
⭐️ Mexipay signs with ACI Worldwide to boost payment innovation in México.
🌎 REGIONAL HIGHLIGHTS
USA 🇺🇸
Banked builds a US presence: The FinTech, founded in the U.K. and now building up operations in the U.S., expects its pay-by-bank services for bank clients will eventually lure retailers.
Cable launches its industry-first solution, Transaction Assurance, pioneering a new wave of financial crime compliance and transaction testing.
CANADA
Nuvei enters global payments partnership with Microsoft to deliver leading payment experiences for customers of its products, solutions, and services across many of its key markets.
Flinks enters the instant payment market with Flinks Pay as part of its commitment to providing Canadians with improved financial products and making instant payments accessible to any company.
LATAM
Wibond has partnered with Libertad to a novel shopping solution for credit card-free purchases at Libertad's hypermarket chain through a convenient fixed installment plan.
Banco Safra has recently been authorized to operate as a Payment Transaction Initiator (ITP) in Brazil's Open Finance system.
Fintech Open Co to launch BNPL product for SMEs in Brazil. The Fintech intends to grow the 'credit as a service' (CaaS) business, inherited from BizCapital and BoletoFlex.
ASIA
OCBC Bank and MOBY Group are collaborating to enable small and micro merchants with pop up stores or kiosks to widen their payment collections beyond QR pay and cash.
Chinese borrowers barred from mobile payments amid record defaults. Millions of Chinese consumers have been barred from mobile payment apps amid record defaults.
AUSTRALIA 🇦🇺
The Australian government has announced a delay on its BNPL laws until 2024, due to resourcing pressures on the federal government’s legislative drafting teams.
AFRICA
Safaricom M-PESA and Chapa forge partnership for streamlined payment solutions in Ethiopia. The partnership aims to boost the ease of transactions for merchants and M-PESA customers in the Ethiopian market.
MOVERS AND SHAKERS
PayPal names Suzan Kereere as President of Global Markets. She will oversee PayPal's global operations, ensuring smooth execution and driving profitable growth.
PayQuicker appoints Gabriel Grisham as Senior VP of Global Sales for Payouts OS. Grisham will scale the reach of Payouts OS into untapped industries and broaden its reach in global markets.
Former Bank of Ireland executive John O’Beirne joins US fintech Square as Europe head. In his new role, he will spearhead the management of Square's Dublin office, overseeing a team of 300 employees.
Sequoia partner Luciana Lixandru joins Stripe board. Lixandru, who started at Sequoia Capital three years ago, replaced longtime partner Michael Moritz on Stripe's board after his exit from the firm.