BNP Paribas and 321founded join forces to launch FinTech Panto
By Gloria Methri
French banking group BNP Paribas has created a FinTech aimed at facilitating and optimizing payments for all marketplaces in Europe. Panto is an all-in-one solution designed in partnership with 321founded Corporate Startup Studio.
It offers marketplaces a dedicated payment management solution that guarantees smooth, secure transactions. The FinTech is aiming for rapid penetration of the European payments market and intends to position itself as a made-in-Europe alternative.
“With Panto, we want to contribute to the creation of a leading player in marketplaces and, more generally, in the platformization of commerce. For its launch, Panto can count on the strength of BNP Paribas, present across the entire payment value chain and Europe’s no. 1 corporate bank. I am convinced that the team, led by Guillaume Massis, will succeed in positioning Panto as one of the leading payment players for marketplaces, thanks to its market-leading offering,” said Neil Pein, Head of Payments Transformation and New Digital Businesses, BNP Paribas Group.
Panto provides state-of-the-art payment functionalities for marketplaces, through an API that can be rapidly implemented. These include cash-in, cash-out, and management features.
“Right from the start, we have set ourselves the highest industry standards in terms of integration, functionality, and technology, at a competitive price,” said Guillaume Massis, CEO of Panto.
Initially, Panto is targeting European B2C e-commerce players, in particular the leading marketplaces that are BNP Paribas customers. At a later stage, the FinTech could extend to the European B2B and C2C markets, with international sellers.
“Our aim is to become one of Europe’s leading marketplace payment solutions. Although there is a lot of competition in this market, it remains vast and continues to grow,” added Massis. “We developed the first complete beta version in 6 months. With the support of BNP Paribas at our side since Panto’s creation, we look forward to an equally dynamic commercial launch phase.”
Panto is scheduled for launch in the first half of 2024. Until payment institution approval is obtained, the FinTech will operate as an agent of BNP Paribas.
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