Hokodo, Europe’s leading provider of digital trade credit, and Mangopay, a specialist in platform-specific payment infrastructure, have today announced a strategic partnership.
Their collaboration aims to provide superior payment solutions to Mangopay B2B platforms, hence fostering their growth and scaling up their payment capabilities.
This partnership comes in response to the growing prevalence of marketplaces in the B2B e-commerce space. With more than 400 industry-specific marketplaces currently in operation, suppliers and merchants are increasingly leveraging these platforms to connect with business buyers globally. As per estimates, up to 80% of B2B transactions are expected to take place online by 2025, underlining the importance of a seamless online payment experience.
Hokodo offers a solution that propels B2B commerce into the 21st century. They provide digital trade credit and B2B Buy Now, Pay Later (BNPL) solutions, enabling B2B merchants to increase their sales by offering instant credit terms to their business customers, even on their first purchase. These solutions are backed by Lloyd’s of London via the Channel Syndicate, a unit of SCOR SE.
Mangopay, on the other hand, provides a specialised payment infrastructure that is adapted to individual platforms. Their payment solutions are designed to streamline the online transaction experience, thus driving increased conversion for businesses.
By combining Hokodo’s digital trade credit offerings with Mangopay’s payment infrastructure capabilities, both companies aim to enhance the payment experience on B2B platforms. From the granting of credit terms and payment collection through to the disbursement of funds to sellers and marketplace fees, funds are expected to flow smoothly, owing to the partnership.
Raphael Caruso, director of strategic projects & partnerships at Hokodo said, “The success of a given marketplace relies partly on providing buyers and sellers with a payment experience that they cannot replicate off-platform.” Luke Trayfoot, chief revenue officer at Mangopay, added that Hokodo’s solution has been helping businesses reach new customers and drive growth for ten years. He said, “Mangopay users can now get started accepting payments with Hokodo in mere minutes and providing a better payment user experience who ensures higher conversion.”
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