BNP Paribas and Startup Studio 321 Introduce Fintech Solution for Marketplace Payments

  BNP Paribas

BNP Paribas, teaming up with Startup Studio 321, has announced the launch of a standalone fintech solution, named Panto, designed to orchestrate marketplace payments. This venture will operate via a full-service plug-in API.

The initial target for Panto is the European B2C e-commerce sector, specifically the marketplaces that already count themselves as BNP Paribas customers. However, potential expansion into European B2B and C2C markets, including international sellers, is also under consideration.

Neil Pein, Head of Payments Transformation and New Digital Businesses at BNP Paribas, expressed the company’s high hopes for Panto. He said it is expected to become a leading player for marketplaces and significantly contribute to the platformisation of commerce. Pein also highlighted the strength of BNP Paribas, which operates across the entire payment value chain, in supporting Panto’s launch.

Panto’s Leadership and Future Plans

Guillaume Massis, former Intuit employee and co-founder of mobile payments fintech Airtag, has been named CEO of the startup. He emphasized the high industry standards Panto has set for itself in terms of integration, functionality, and technology while remaining competitively priced.

Describing the market as vast and continuously growing, Massis mentioned the development of a complete beta version in just six months. He expressed optimism for a dynamic commercial launch phase, with BNP Paribas’ support since Panto’s inception.

Panto is set to launch in the first half of 2024. Until it receives payment institution approval, the fintech will operate as an agent of BNP Paribas. This move by BNP Paribas follows a similar initiative by rival French bank Societe Generale, which earlier this year partnered with Lemonway to provide payment services to large corporates launching B2B marketplaces in Western Europe.