The collaboration will enhance Mangopay’s payment infrastructure capabilities. In addition, it will enable B2B marketplaces to scale their payment capability and foster growth using Hokodo’s offering.
Raphael Caruso, director of Strategic Projects & Partnerships at Hokodo, commented: “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.
“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.”
Mangopay, Hokodo, and B2B marketplaces
Marketplaces are becoming increasingly popular tools 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.
The partnership between Mangopay and Hokodo comes one month after Mangopay strengthened its collaboration with GiftRound, a platform for group gift collection.
The partnership renewal enabled GiftRound to continue operating Mangopay’s e-wallet modular technology, boosting protection and security before funds transferred through GiftRound reach the end receiver.
“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 mbetter payment user experience which ensures higher conversion”.