(13 April 2023 – France) French banking giant Société Générale has partnered up with payments technology firm Lemonway to offer payments capability for large European corporates entering the business-to-business (B2B) marketplace arena.
The partnership links Lemonway’s expertise in managing compliant third-party payments services with Société Générale for sophisticated account and cash management needs.
Lemonway offers modular and end-to-end solutions for their B2B marketplaces. It includes payment and other strategic services such as customer verification and payment account opening, reconciliation of flows for beneficiaries and performance monitoring. This allows B2B marketplace operators to manage the complex transaction flows in compliance with the highest regulatory standards.
According to the company the “technical implementation of the partnership” will soon go live in France, Germany, Italy, Spain, Belgium, the Netherlands, the United Kingdom (UK) and Switzerland.
“This partnership enables us to support our clients in their digital transformation, offering ever more complete and innovative payment services, in line with the specific needs of large corporates for their B2B marketplaces. It illustrates Société Générale’s long-standing cooperative approach with fintech companies to provide innovative solutions for our clients,” said Société Générale Head of Global Transaction and Payment Services, Alexandre Maymat.