Mangopay and VTEX partner to elevate global marketplace success
Mangopay and VTEX form a strategic alliance, combining top digital commerce capabilities with the industry's leading payment infrastructure. This partnership marks a significant leap towards more streamlined and simplified digital transactions for businesses globally.
Nov 13, 2023
Paris, 25 September 2023 – Mangopay, a platform-specific payment infrastructure provider and VTEX (NYSE: VTEX), the global enterprise digital commerce platform for premier brands and retailers, announced a global partnership to offer an integration that will enable marketplace operator to cover both pay in and pay out on a single solution. Together, they aim to bolster the limitless growth of global marketplaces by ensuring frictionless buying and selling experiences.
As the world anticipates an impending recession, retail businesses are intensifying their platformization efforts. In these times, the search for external expertise to navigate intricate business models and dynamic customer demands has become paramount. Recognizing this challenge, Mangopay and VTEX have joined forces to redefine the dynamics of marketplace operations. This collaboration signifies a groundbreaking shift towards enhanced efficiency and scalability in marketplace.
Marketplaces powered by VTEX will be able to cater to local payment preferences, thanks to Mangopay's modular global payment infrastructure. Integration introduces a swift and seamless seller onboarding process, complete with thorough identity verification.
“This significant alliance symbolizes a further alignment of our shared vision with VTEX to adeptly address our clients' financial services requirements,” said Luke Trayfoot, Chief Revenue Officer at Mangopay. “This move facilitates an automated, seamless payment process benefiting sellers, marketplace operators and the end buyers. Merging the top-tier technology from both our companies paves the way for novel opportunities for online enterprises.”
"We sought a partner capable of empowering our global customer base to realize limitless growth in a scalable marketplace. Mangopay’s international reach enables VTEX to provide a seamless payment process tailored to the country where our customer is operating,” said Prakash Gurumoorthy, general manager EMEA & APAC at VTEX. “This partnership represents a unique alignment between two companies that share a lot in terms of customer positioning: B2C, B2B and marketplace for major retail companies. We are glad to bring to the market such a combination.”
About Mangopay Mangopay empowers the platform economy with its modular payment infrastructure. Created in 2013, Mangopay has supported 2,500+ platforms and marketplaces. Built around its programmable e-wallet solution, Mangopay’s end-to-end infrastructure covers platform payment needs, from pay-in to payout, for many platform business models and workflows. In March 2023, Mangopay was named “Best Platform and Marketplace Provider” at the Merchant Payments Ecosystem (MPE) Awards for providing best-in-class payment services to marketplaces and platforms. More information on Mangopay.
About VTEX VTEX (NYSE: VTEX) is the enterprise digital commerce platform where forward-thinking CEOs and CIOs smarten up their investments. Our composable and complete platform helps brands and retailers modernize their stack and reduce maintenance costs by rapidly migrating from legacy systems, connecting their entire value chain, and making inventory and fulfillment their strength. As a leader in digital commerce, VTEX is trusted by more than 2,600 B2C and B2B customers, including Carrefour, Colgate, Motorola, Sony, Stanley Black & Decker, and Whirlpool, having over 3,400 active online stores across 38 countries (as of FY ended on December 31, 2022). For more information, visit www.vtex.com.