BNP Paribas and 321founded partner to launch marketplace payment management fintech Panto
French banking group BNP Paribas has partnered with start-up builder 321founded to launch Panto, a new fintech offering a payment management solution for marketplaces.
BNP Paribas-backed Panto to launch in H1 ’24
Launching initially for European B2C e-commerce firms, the Paris-based fintech will provide a full-service payment platform enabled via API integrations.
Its core suite will include cash-in features such as support for multiple payment acceptance capabilities and cash-out features such as automatic payment redistribution between the marketplace and third-party sellers. It will also include management features such as automated KYC and AI-powered fraud management.
Due to launch commercially in H1 2024, the fintech is to be led by CEO Guillaume Massis, who notably co-founded the Banking-as-a-Service (BaaS) platform Ditto Services in 2018.
Massis claims that the beta version of the solution was completed in just six months, and says that the fintech will now undertake “a similar dynamic commercial launch phase”.
Adding to this, Neil Pein, head of payments transformation and new digital businesses for BNP Paribas Group, says that through supporting the launch of Panto, the bank aims to tap “the platformisation of commerce” in its bid to contend within Europe’s competitive marketplace payment ecosystem.
The fintech will operate as an agent of BNP Paribas while it waits to be approved as a payments institution, and could expand to the European B2B and C2C markets “at a later stage”.
