European payment infrastructure developer Mangopay has extended its partnership with gifting platform GiftRound to process all of the platform’s payment flows.
This expanded partnership will also help GiftRound launch in Ireland.
The duo initially partnered together in 2018 at GiftRound’s inception. During this period, Mangopay has processed over £10.5m across over 75,000 money pots.
As part of the extended partnership, GiftRound will leverage Mangopay’s e-wallet technology, which will add another layer of protection and security ahead of the dispersing of funds to the end receiver. It will also offer greater flexibility and scalability with pay-in and pay-out capabilities.
GiftRound is an online service that helps people collect money for group gifts, such as wedding, leaving, maternity, retirement, birthday and teacher gifts. It claims to boast 800,000 users.
The FinTech company wanted a payment provider that could process complex payment flows. It picked Mangopay due to its track record of working with platform specific businesses, including crowdfunding companies.
The Mangopay API allows GiftRound to ensure the security of money collection, fraud prevention and anti-money laundering.
GiftRound CEO and founder Craig Forsythe said, “Having started this journey with Mangopay in 2018, we’re delighted to continue working together. Payment flows are crucial for us as we work on maintaining our high levels of growth by listening to our customers to improve their payment experience on our platform.
“It is key for us to work with a trusted partner, and we know that crowdfunding payment flows are part of Mangopay’s DNA. Mangopay will enable us to process multiple payment flows daily in the safest way possible and we look forward to continuing to grow a reliable, secure service with our trusted partner.”
Mangopay recently extended a long-term partnership with PayPal. Through the partnership, Mangopay helps marketplaces build dynamic payment experiences and make PayPal tools available to end-users.
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