German automotive marketplace mobile.de has tapped Mangopay to add embedded payments to its platform.
Mangopay, a provider of payment infrastructure for marketplaces and platforms, will launch a payment solution tailored to mobile.de’s users, the companies said in a Wednesday (Feb. 14) press release.
“For many people, buying a car is one of their biggest investments, and there is a great need for a safe payment solution,” Ajay Bhatia, CEO at mobile.de, said in the release. “Therefore, mobile.de has launched ‘Safe Pay’ in close cooperation with Mangopay.”
With the new embedded payments, consumers will not have to leave the mobile.de-branded experience with which they are familiar when buying or selling a car, according to the release.
In addition, Mangopay’s wallet-based payment technology enables a money transfer process in which consumers buying a car through the mobile.de marketplace can be sure that their funds will be transferred only when they have confirmed that they have taken possession of the car and are happy with it, the release said.
Similarly, sellers can be assured that the funds are being processed in the mobile.de environment they trust and that the deposit will be made into the account they have chosen, per the release.
“Supporting the growth ambitions of the marketplaces we work with is core to our mission at Mangopay, and we are delighted to be working with mobile.de to transform its offer and customer journey,” Romain Mazeries, CEO at Mangopay, said in the release.
PYMNTS Intelligence has found that marketplaces and independent software vendors (ISVs) are adopting embedded payments to cater to customer bases that value easy buying experiences enabled by the latest technologies.
Sixty-five percent of marketplaces and ISVs that don’t currently offer payment capabilities plan to add embedded financial products for payment acceptance in the next year, according to “Platform Business Survey: The Rise of Embedded Payments,” a PYMNTS Intelligence and Carat from Fiserv collaboration.
Application programming interfaces (APIs) are making it easier for non-financial companies to embed financial solutions into their products and platforms, Mazeries wrote in the PYMNTS Intelligence eBook, “2023: The Year of Strategic Shifts in Business.”
“We now see insurance, investment and financing experiences embedded within eCommerce experiences,” Mazeries wrote.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More