BNP Paribas, in partnership with Startup Studio 321, has introduced a standalone fintech solution for streamlining marketplace payments. This innovative venture, known as Panto, operates through a comprehensive plug-in API, and its primary focus is European B2C e-commerce businesses, particularly those that are BNP Paribas clients. In the future, this fintech platform may expand its services to encompass the European B2B and C2C markets, including international sellers.
Neil Pein, head of payments transformation and new digital businesses, BNP Paribas, comments: “With Panto, we aim to contribute to the creation of a leading player for marketplaces and, moreover, in the platformisation of commerce. For its launch, Panto can count on the strength of BNP Paribas, present across the entire payment value chain.”
Guillaume Massis, ex-Intuit and co-founder of mobile payments fintech Airtag, has been appointed CEO of the startup.
“From the outset, we’ve set ourselves the highest industry standards in terms of integration, functionality and technology, at a competitive price,” he says of the new venture. “Although there is a lot of competition in this market, it remains vast and continues to grow. We developed a first complete beta version in 6 months. With the support of BNP Paribas at our side since Panto’s creation, we look forward to a similar dynamic commercial launch phase.”
Panto is scheduled for launch in the first half of 2024. Until payment institution approval is obtained, the fintech will operate as an agent of BNP Paribas.
Earlier this year, rival french bank Societe Generale signed a deal with Lemonway to deliver payment services to large corporates launching B2B marketplaces in Western Europe.
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