Mondu: B2B Digital Trade Account

Digital Trade Account is a brand-new payment option from B2B payments startup Mondu. With the help of Mondu’s new solution, B2B retailers and marketplaces may offer trade accounts to their business clients, letting them combine several purchases made over a certain period of time into a single statement.

At the conclusion of the predetermined time frame, buyers pay their charge in accordance with pre-aligned net terms. After every purchase, Mondu pays the merchants or the marketplace in accordance with a pre-aligned payment schedule, while purchasers pay in accordance with the net terms. This could result in a reimbursement the following day, and Mondu shields the retailers from fraud, credit, and default threats.

In accordance with the payment plans, Mondu also oversees the purchasers’ payment collection and assumes operational responsibility for everything from debtor management to reconciliation.

With the help of its innovative solution, merchants may profit from the advantages of providing business clients with Trade Accounts without having to shoulder the usual administrative and financial strain.

The trade account solution was required, as co-founder and co-CEO of Mondu Malte Huffmann stated: “Merchants have a clear opportunity to increase their sales by making frequent purchasing easier.” Both buyers and sellers dislike having to spend time sending out and paying many invoices.

We’re meeting a genuine market need and fulfilling our promise to make payments a positive experience and a tool for business success by launching the Digital Trade Account. Companies that provide trade accounts can increase client spending by twofold.

Minimizing mistakes and saving time for purchasers

According to Mondu, verticals such as office supplies, food and drink, building materials, and auto components usually have high purchase frequency and frequently refill stock in response to demand.

Many businesses in these industries rely heavily on manual, error-prone processes to keep track of distinct orders and reconcile each transaction with the appropriate invoice.

Merchants can provide trade accounts to both new and existing clients, allowing them to make purchases as frequently as they like within a pre-assigned purchasing capacity, by utilizing Mondu’s credit engine.

Purchases are combined and summarized at the conclusion of each period into a single statement that can be paid with net terms that have been arranged between Mondu and the merchants. This makes payments for customers more convenient and saves time and mistakes. The increased convenience could result in twice as much money being spent by customers.

Additionally, Mondu recently declared that more European clients will have access to its range of B2B payment services via the network of payment expert Acquired.com. Additionally, the business is working with the composable commerce platform Spryker, where Mondu will be available as a payment partner to provide B2B buyers with various payment options.