Same-Day Payments: Mangopay and Storfund Revolutionise E-Commerce Cash Flow
In the fast-paced world of e-commerce, timing is everything. Waiting for payments to trickle in can be a cumbersome ordeal for marketplace sellers, often taking 10 to 30 days. But now, thanks to a groundbreaking partnership between Mangopay, a payment infrastructure provider for marketplaces, and fintech innovator Storfund, sellers can bid farewell to this waiting game and receive same-day payments for their sales. This dynamic collaboration is set to revolutionise the cash flow landscape for businesses, facilitating growth and scalability.
The Woes of Delayed Payments
We are very excited to announce our new partnership with @mangopay, which will offer marketplaces an embedded cash flow solution for their sellers.
For many marketplace sellers, delayed payments can be crippling. These businesses rely on the influx of funds from their sales to restock inventory, invest in marketing efforts, and sustain their daily operations. The traditional 10 to 30-day wait for payment often leaves them struggling to meet these crucial financial demands, hindering their growth potential. Recognising this pain point, Mangopay and Storfund have joined forces to offer an innovative solution.
The heart of this collaboration lies in activating immediate payment for sales. Marketplaces partnering with Mangopay and Storfund can now extend this option to their sellers. This newfound agility in receiving funds significantly improves cash flow, enabling businesses to restock their shelves and seize new growth opportunities frequently.
George Brintalos, Founder and CEO at Storfund, elaborated on their mission, stating, “Storfund and Mangopay are two companies that are driving innovations that are helping to fuel the growth of the platform economy, whether that’s sellers who are looking to scale their business, or the marketplaces themselves. Here at Storfund, we have a mantra of ‘win-win e-commerce’ – by supporting the growth of the marketplace seller, we can also support the growth of marketplaces. We are excited to open these growth opportunities to more marketplaces through our new partnership with Mangopay.”
Romain Mazeries, CEO at Mangopay, echoed this sentiment, emphasising their dedication to innovation and customer satisfaction. “At Mangopay, we have a relentless focus on innovating on behalf of our customers – whether that’s new cross-border payment capabilities, sophisticated fraud prevention technology, or partner integrations available through our modular approach that bring opportunities to drive business growth,” he said. “By introducing immediate payments and an answer to cash flow challenges, Storfund is the latest partner solution in our ecosystem that can help our marketplace clients and their seller businesses to scale.”
A Boon to Marketplaces and Sellers Alike
We started Storfund with a simple idea: sell today, get paid today. And it works for so many clients who have joined us.
See how getting paid immediately can make a difference to your business. Use code WELCOME for a two-week free trial. No catch, love us or leave.#ecommercepic.twitter.com/hUGBNVyqoi
The impact of this partnership extends beyond individual sellers. Marketplaces, in particular, stand to benefit as they facilitate immediate payments for their vendors. Enhanced cash flow for sellers translates to increased sales and improved seller loyalty, ultimately driving market growth.
As the e-commerce landscape continues to evolve, businesses in this sector are constantly seeking ways to streamline operations and offer a superior experience to their customers. Immediate payments represent a pivotal step in this journey, aligning with the digital convenience shift in B2C and B2B transactions.
In the larger context of the platform economy, the collaboration between Mangopay and Storfund exemplifies the spirit of innovation and progress that drives this thriving ecosystem. The ability to support marketplace sellers in scaling their businesses while fostering marketplaces’ growth epitomises this dynamic industry’s win-win philosophy.
As we gaze into the future, payment trends for 2024 are expected to be shaped by advancements in artificial intelligence (AI). Romain predicts AI will play a significant role in assessing creditworthiness, risk evaluation, and workforce management. With AI, companies can navigate the evolving landscape with greater agility, leveraging small, agile teams to innovate and overcome workforce challenges.
In conclusion, the partnership between Mangopay and Storfund represents a significant leap forward in the world of e-commerce, offering immediate payment solutions to marketplace sellers. This transformative collaboration addresses cash flow challenges and fuels the growth of marketplaces and the platform economy. With AI on the horizon, the future of payments promises even more significant innovations, ensuring businesses stay at the forefront of this ever-evolving landscape.
