Embedded Finance Workflows Firm Monite Launches Payment Links to Support B2B Platforms Growth

Monite, an API-first embedded finance workflows startup, introduces Invoice Payment Links.

It is described as “a hassle-free solution that enables invoicing and accounting platforms to earn two to five times per user by helping their clients to get paid 40% faster.”

While many SMBs facilitate their customer invoicing with finance platforms, invoice payments are still a hassle “since they often arrive in an email inbox in PDF format and need to be paid manually.”

This usually “causes errors, extends the average collection period by up to 90 days, and creates cash gaps.”

Today Monite “introduces its Invoice Payment Links: the way SMBs can avoid chasing payments, get paid instantly and securely and maintain a cash-healthy business.”

This product is “designed for accounting and invoicing platforms that can improve user experience and earn up to five times more revenue per user by getting additional commission from every invoice payment their customers receive.”

Moreover, with Monite, accounting and invoicing platforms “can increase payment coverage to nearly 90% by offering their customers the widest range of payment options, based on capabilities provided by the best vendors in the area: card & local payment methods (Stripe), open banking (Yapily), and other payment methods like BNPL coming in the future.”

Building a similar payment stack in-house usually “means partnering with at least one provider per payment method and taking on compliance, anti-fraud, and other functions, while spending around $500k, hiring a specialized payments team and dedicating over 1 year of work.”

Meanwhile embedding Monite’s solution “is easy and takes only six days and the help of two developers.”

Invoicing and accounting platforms “typically miss revenue opportunities as they only monetize SaaS fees but miss monetizing payments.”

Adding payments “has historically been challenging as the platforms have to risk losing money on some transactions due to the ICC++ model that providers offer.”

Monite, on the contrary, “offers blended rate pricing and takes over the risk of losing money, allowing platforms to earn a fixed fee per transaction.” Alongside this, Monite fully “takes over compliance and anti-fraud issues, which are crucial for B2B payments.”

Ivan Maryasin, CEO and co-founder of Monite, elaborated on the significance of the new product:

“Invoice Payment Links is here to let payments become fast and convenient. Companies like lexoffice or sevDesk can now add new revenue streams through reliable and fully compliant payments while saving on margins and benefiting from hands-on advisory and support from Monite. At the same time, SMBs can enjoy the advantages of all payment methods while mitigating the risk and dependency of relying on a single provider.”

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