Mangopay has announced a new “partnership” with Mobile.de. Mobile.de is the largest online vehicle market in Germany, with over 1.2 million cars available on its platform. Straits research estimated that the global online car-buying market is set to reach $722 billion by 2030, growing at a CAGR of 12.21%.
The partnership gives Mobile.de more options for secure payments directly from within the marketplace. Mangopay will deliver Mobile.de a flexible payment platform embedded within the Mobile.de platform. It will enable buyers and sellers to have surety around the payment transactions. It will deliver a seamless and user-friendly end-to-end experience of both the buying and selling process.
What do Mobile.de and its customers get?
Mobile.de buyers are assured that their funds are only transferred to the seller once they confirm that they have received the vehicle and that they are satisfied with the purchase. The sellers are assured the funds to purchase the vehicle are available and will be transferred once the sale is completed. The whole process is embedded within the Mobile.de platform, which means that buyers and sellers do not have to go to another site to complete the transaction. It gives greater assurance that the money transfer is secure and data privacy maintained.
The payment platform is also branded Mobile.de, further eliminating any cause for confusion.
Ajay Bhatia, CEO of mobile.de, said, “For many people, buying a car is one of their biggest investments, and there is a great need for a safe payment solution. Therefore, mobile.de has launched “Safe Pay” in close cooperation with Mangopay. We are convinced that Safe Pay will drastically improve the user’s car buying journey.”
Romain Mazeries, CEO at Mangopay, added, “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. We are committed to driving their growth and delivering an exceptional user experience through our solutions.”
Enterprise Times: What does this mean?
Yet another partnership for Mangopay that extends the usage of their platform, and will, in time, increase the amount of money that flows through its platform. This is the fourth partnership announcement this year already. Whether this is a partnership or a customer relationship is a moot point. It is certainly significant.
Other announcements this year have included OVO Network(UK), Storfund(UK) and Sprinque(NL). Can Mangopay continue this momentum? It is certainly grabbing a share of the European market with these announcements.
