Platform-specific payment infrastructure provider, Mangopay, has agreed a strategic partnership with composable commerce platform, Spryker.

The companies say the collaboration is dedicated to empowering businesses in building seamless marketplaces, from seller onboarding to payment processing. It further underscores the commitment of both firms to enhance the platform industries by leveraging their distinctive strengths and capabilities.

Through the ever-changing platform landscape, businesses continue to seek flexible, secure and experienced technology partners to future-proof payments experiences and build customer experience. The partnership officially starts in September 2023. According to both firms, it is set to redefine the landscape of online marketplaces. That is, by offering a holistic solution that addresses key challenges faced by businesses in this space. Both Spryker and Mangopay prioritise innovation and putting their customers first. Together, they aim to provide exceptional value to their clients.

Marketplace industry forecast to hit $8.7trn by 2025

The marketplace industry continues to grow and is projected to reach $8.7trn by 2025. As it grows, the payment experience remains a key differentiator. Mangopay, in its strategic alignment with Spryker, reaffirms its dedication to pioneering advancements in the fintech industry. The partnership’s key objectives centre around delivering exceptional value to mutual customers, providing them with the tools and capabilities needed to excel in the dynamic online marketplace landscape.

“Mangopay, in its strategic alignment with Spryker, reaffirms its dedication to pioneering advancements in the fintech sector, said Luke Trayfoot, Chief Revenue Officer at Mangopay.

” This alliance allows us to provide our customers with enhanced services in the platform industry. Merging the top-tier technology from both our companies paves the way for novel opportunities for online enterprises.”

“We are thrilled to collaborate with Mangopay to provide enterprises with a strong offering that enables them to build their marketplace faster,” added Manishi Singh, SVP App Composition Platform at Spryker.

“With Mangopay’s powerful payment structure and Spryker’s best-of-breed composability, customers will be able to efficiently build a seamless marketplace experience for both operators and end-users.”