Marketplaces now have easy access to PayPal’s international payment services thanks to the extension of MANGOPAY and PayPal’s long-term strategic cooperation.
The arrangement enables markets to quickly create a dynamic payment experience and give end users access to PayPal features. MANGOPAY and PayPal have collaborated since 2016.
PayPal has taken the world by storm ever since its introduction on the market. In 2022, it was recorded that PayPal has 435 million users on its platform. PayPal eliminates the need to input financial information every time a user makes a purchase while also being easy to use, free, and allow users to send money to friends and family at no extra cost. PayPal is used in retail & e-commerce websites but also for personal use like sending and receiving money and for entertainment purposes like music and paying for concert tickets. While hugely popular in the United States, PayPal also has a big presence across the pond, which can be seen in the sheer popularity of PayPal casino UK sites like LeoVegas and Casushi.
MANGOPAY CEO Romain Mazeries comments on this deal extension, “PayPal’s historical collaboration with some of the world’s largest marketplaces align with MANGOPAY’s mission to unleash platform growth by reducing complexity in today’s borderless world. Payment choice and flexibility have always been a critical part of a successful marketplace experience. Platforms today must address complex payment needs to help drive increased conversion. That is why our expanded strategic cooperation with PayPal is key and will allow us to build the most comprehensive payment environment that platforms need to succeed.”
Businesses utilising MANGOPAY’s payment infrastructure have the ability to customise their payment processes with only one integration. MANGOPAY allows users to manage their end-to-end marketplace and platform payment flow and payment operations in own swift solution. They can now also easily do this by implementing PayPal’s payment options.
B2B platforms, as well as B2C and C2C markets, are supported by MANGOPAY. Clients can use its infrastructure to send payouts, accept payments, and sign up sellers while preserving regulatory compliance and security.
The business bought Nethone, an AI fraud detection and prevention company, last year. With the integration of Nethone’s technology, MANGOPAY is now able to provide anti-fraud software that is specifically made for marketplaces, banking on safeguarding e-commerce transactions.
PayPal was also lately incredibly busy. Recently, Deep Instinct, a CyberTech business, received funding from the company’s venture arm. Now, Deep Instinct protects customers in North America, Europe, and APAC. By 2022, business customers will triple, and this will include strategic partnerships with many Global 2000 firms.
PayPal also entered into a partnership with Web3 company ConsenSys around the end of last year. By this agreement, MetaMask users in the US will be able to buy Ethereum directly through the PayPal app.
