Hokodo and Mangopay collaborate to deliver a payment infrastructure tailored for B2B platforms
May 30, 2023
Millions of businesses using Mangopay payment infrastructure can offer their customers flexible and transparent payment options with Hokodo’s solution.
London, May 2023 – Hokodo, Europe’s leading provider of digital trade credit, and Mangopay, platform-specific payment infrastructure provider, announced a strategic partnership that makes Hokodo's solutions available to Mangopay B2B platforms. This cooperation will allow B2B marketplaces to foster their growth and scale their payments capability.
Marketplaces continue to become increasingly ubiquitous in the B2B e-commerce space. Thousands of industry-specific marketplaces are now in operation, serving as a bridge connecting suppliers with business buyers globally.
Large suppliers and other merchants are capitalizing on the phenomenon, with 75% actively developing marketplace strategies. 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 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 optimized 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,” explains Raphael Caruso, Director of Strategic Projects & Partnerships at Hokodo. “Marketplace operators 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 ten 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."
Contact Hokodo Ethan Cumming, Content & PR Manager at Hokodo - firstname.lastname@example.org
Contact Mangopay Manuel Chaplet - European PR Manager, Mangopay - email@example.com
About Hokodo Hokodo is a fintech scaleup bringing B2B commerce into the 21st century with Digital Trade Credit and B2B Buy Now, Pay Later solutions. Hokodo’s technology empowers B2B merchants to sell more by offering credit terms to their business customers instantly, even on their first purchase. In turn, customers benefit from additional payment terms, interest-free, through a frictionless BNPL checkout experience. Hokodo’s solutions are backed by Lloyd’s of London via the Channel Syndicate, a unit of SCOR SE. Hokodo
About Mangopay Mangopay empowers the platform economy with its modular payment infrastructure. Created in 2013, Mangopay has supported 2,500+ platforms and marketplaces. Built around its programmable e-wallet solution, Mangopay’s end-to-end infrastructure covers platform payment needs, from pay-in to payout, for many platform business models and workflows. In March 2023, Mangopay was named “Best Platform and Marketplace Provider” at the Merchant Payments Ecosystem (MPE) Awards for providing best-in-class payment services to marketplaces and platforms. Mangopay