Mondu enhances its B2B payments suite with new ‘Pay Now’ product

Source: CEW Communications / Mondu

Mondu, the fast-growing B2B fintech, has launched Pay Now, an account-to-account (A2A) instant payment solution for B2B e-commerce. This new offering complements Mondu’s existing Buy Now, Pay Later (BNPL) products, providing a comprehensive payment experience for online business buyers.

The European B2B e-commerce market is experiencing explosive growth, projected to reach $2.2 trillion by 2027, almost double the value in 2022. This rapid shift to online sales highlights the increasing demand for more flexible and streamlined payment solutions.

As businesses adapt to this digital-first environment, digital B2B payments are becoming a crucial tool. The European B2B BNPL market is projected to grow at an annual rate of 27.5% percent, reaching $256.7 billion by 2029. Mondu’s new Pay Now product is the latest addition to its BNPL suite, which includes invoice payments, instalments, and digital trade accounts, creating a holistic proposition that directly addresses market needs.

Pay Now allows buyers to pay directly from their bank accounts, providing a secure and streamlined checkout experience. It enables merchants to serve all buyers, whether they are eligible for deferred payments or not.

For merchants, this means a hassle-free integration that eliminates the need for a separate A2A payment provider and simplifies reconciliation. Mondu handles risk and fraud checks, provides payment confirmation, and manages all buyer communication, allowing merchants to focus on their business.

Malte Huffmann, co-chief executive officer of Mondu, said: “We’ve seen immense interest from existing customers in Pay Now. Our goal is to provide a comprehensive payment solution that caters to the evolving needs of B2B buyers and sellers. With Pay Now, we offer a best-in-class experience, combining the flexibility of BNPL with the simplicity of instant payments.

“In just three years, Mondu has become a prominent player in the European B2B payments industry, working with leading retailers and marketplaces, including Notebooksbilliger, WirMachenDruck, GGM Gastro, Enpal, Autodoc, Solago, and Qogita.”