Mangopay has announced a new partnership with B2B payments platform Sprinque to drive payments innovation for B2B marketplaces.
The collaboration allows merchants and marketplaces to take advantage of holistic and customisable payments infrastructures and terms, enabling them to grow revenues by tapping into B2B cross-border opportunities.
The B2B platform Sprinque helps merchants and marketplaces expand globally by enabling frictionless purchasing with business customers, which is when barriers of online and offline purchases are minimised, resulting in faster and better customer experience.
Mangopay understands the importance of faster checkouts, as it partnered with fintech Storfund last month, with aims of eliminating payment waiting times on marketplaces.
Juan Espinosa, CEO of Sprinque, commented: “We are incredibly excited about this partnership between Mangopay and Sprinque as this creates collaboration in an ecosystem where ambitious international merchants, both B2C and B2B, will be able to have access to both consumer and business tools to ensure that they are able to capture and service both sides of the coin, B2C and B2B.
“We are also extremely aligned with Mangopay’s vision in terms of capturing the opportunity at a global scale so we couldn’t think of a better partner for us at this stage.”
Mangopay has supported over 2,500 platforms with its modular payment infrastructure, helping multiple business models in the platform economy via its programmable e-wallet solution and end-to-end payment infrastructure, which covers everything from pay-in to payout.
Derrick Lynagh, Head of Sales & Partners at Mangopay, stated: “Our aim is to power the payment infrastructure and operations of the world’s largest and most innovative marketplaces and platforms. We’re committed to finding new ways to help our platform customers create and operate payments infrastructures that will help their businesses to scale.”
Recently, market reports suggest that the B2B marketplace industry has grown by as much as 8.6 times since 2015, with the payment experience continuing to play a key role in the growth of businesses operating in the sector.
Lynagh added: “Partners such as Sprinque are an important part of our strategy, and collaborations like this further strengthen our proposition for B2B marketplaces and platforms. We’re delighted to form this new partnership to offer B2B marketplaces the chance to meet the demand for a greater choice of payment methods.”