More details have been revealed by Famitsu regarding Bayonetta 2’s multiplayer.
The co-op mode, called “Tag Climax,” allows players to choose their character and weapons, and join with friends, online players, or AI to take on a number of challenges, including horde fights and boss battles. Playing through the single player campaign will unlock more characters and weapons for use in this mode.
Players can also fight against each other in quick fights, using in-game currency to bet against each other, with the aim of scoring higher points. The points won from these bouts can then be used to purchase new moves, accessories, and weapon variants.
Bayonetta 2 is currently set to be released on Wii U this October, and will come packaged with the original Bayonetta to sweeten the deal.
Source: IGN