Payment infrastructure provider Mangopay has launched a partnership with digital commerce platform VTEX.
The collaboration is designed to give marketplace operators a single pay-in and pay-out solution and provide frictionless buying and selling experiences, IBS Intelligence reported Tuesday (Sept. 26).
According to the report, marketplaces powered by VTEX will be able to use Mangopay’s modular global payment infrastructure to adhere to local payment preferences. The integration also provides for easier seller onboarding, including ID 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, per the report.
“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.”
In an interview with PYMNTS last year, Philippe Peyresaubes, general manager for France at VTEX, remarked on the significant demand for omnichannel solutions that give businesses oversight over their sales and logistic operations throughout online and offline channels.
“This challenge is even greater for the global companies that VTEX works with, which need help to optimize shipping and distribution across borders in order to deliver the best customer experience,” PYMNTS wrote.
In addition to logistics management, retailers also need to be able to keep on top of an evolving payments landscape.
Peyresaubes told PYMNTS that in the last two years, each month has seen “a big [payment service provider] coming out with a different type of value proposition.” As he argued, here too, VTEX’s expertise in highly complex eCommerce operations comes into play when helping retailers integrate new payment offerings.
More recently, PYMNTS spoke with Mangopay CFO Carlos Sanchez-Arruti, who said this year’s regional banking crisis has “validated the discipline that CFOs need to have around cash management and treasury.”
“[Finance leaders] can’t forget that at the end of the day, cash is king — and it’s important to carefully manage cost and cash while being able to enable growth and separately maintaining a certain level of cushioning,” said Sanchez-Arruti, adding that this is often a matter of the CFO’s ability to balance trade-offs the proper way.
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