Hokodo & Mangopay to provide payment offering for B2B platforms
By Gloria Methri
Hokodo, one of Europe’s leading providers of digital trade credit, and Mangopay, a platform-specific payment infrastructure provider have entered a strategic partnership that makes Hokodo’s solutions available to Mangopay B2B platforms. This cooperation will allow B2B marketplaces to foster growth and scale their payment capability.
With up to 80% of B2B transactions expected to take place online by 2025, seamless online payment experiences are a priority for B2B buyers. As the B2B marketplace industry continues to grow, the payment experience remains a key differentiator for such players.
Enhancing Mangopay’s payment infrastructure capabilities with Hokodo is seen as a meaningful step to help B2B players drive global growth for marketplaces. With their combined solutions and expertise, the two companies deliver a comprehensive payment offering and optimised payment flows for B2B marketplaces. From the granting of credit terms and payment collection through the disbursement of funds to sellers and marketplace operators’ commissions, funds flow smoothly thanks to the partnership.
“The success of a given marketplace relies partly on providing buyers and sellers with a payment experience that they cannot replicate off-platform. Business buyers expect payment terms, while suppliers want to get paid upfront,” explained Raphael Caruso, Director of Strategic Projects & Partnerships at Hokodo. “Marketplace operators themselves also need access to their funds as soon as possible to avoid working capital issues. Together, Mangopay and Hokodo’s complementary solutions satisfy the demands of each party.”
“Businesses need to move quickly to keep up with changing consumer preferences to help drive increased conversion,” said Luke Trayfoot, Chief Revenue Officer at Mangopay. “For five years, Hokodo has been a powerful solution for businesses to reach new customers and drive growth. Mangopay users can now get started accepting payments with Hokodo in mere minutes and providing better payment user experience which ensures higher conversion.”
IBSi Daily News Analysis
December 04, 2023
Saudi Arabian firms are likely to outsource cybersecurity by next year, study showsRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage