German car market mobile.de uses Mangopay to add embedded payments to its platform.
Mangopay, which provides payment infrastructure for marketplaces and platforms, will launch a tailored payments solution for mobile.de users, the companies announced in a press release on Wednesday (February 14).
“For many people, buying a car is one of their biggest investments, and there is a huge need for secure payment solutions,” mobile.de CEO Ajay Bhatia said in a release. “Therefore, mobile.de launched 'Safe Pay' in close cooperation with Mangopay.”
According to the release, the newly integrated payments will eliminate the need for consumers to leave the familiar mobile.de-branded experience when buying or selling a car.
In addition, Mangopay's wallet-based payment technology ensures that funds are only transferred when a consumer purchasing a car through the mobile.de marketplace confirms that they own the car and qualify. process is possible. He said he was satisfied with the release.
Similarly, sellers can guarantee that their funds will be processed in a trusted mobile.de environment and deposited into their chosen account, according to the release.
“Supporting the growth ambitions of the marketplaces we work with is at the core of Mangopay's mission and we are delighted to be working with mobile.de to transform its offer and customer journey,” said Mangopay CEO, Romain Mazeries said in a release. .
PYMNTS Intelligence found that marketplaces and independent software vendors (ISVs) are embracing embedded payments to cater to a customer base that values easy purchasing experiences enabled by the latest technology.
PYMNTS Intelligence and Carat's Platform Business Study: The Rise of Embedded Payments found that 65% of marketplaces and ISVs that do not currently offer payments functionality will add embedded financial products to accept payments in the next year. He plans to do so. Collaboration with Fiserv.
Application programming interfaces (APIs) are making it easier for non-financial companies to embed financial solutions into their products and platforms, says Mazeris in the PYMNTS Intelligence ebook 2023: The Year of Strategic Transformation for Business. ” states.
“We are now seeing insurance, investment, and lending experiences being incorporated into the e-commerce experience,” Mazeries wrote.
