Online retail giant Debenhams Group has teamed up with Luxembourg’s Mangopay to upgrade how it handles payments across its online marketplace.
The new multi-year partnership will launch with Debenhams, the group’s popular online department store, as it continues to grow and improve its digital operations.
The UK retail giant is behind big-name brands including PrettyLittleThing, boohoo and Karen Millen.
With Mangopay’s wallet-based payment system, Debenhams is set to be able to manage payouts to sellers more easily, speed up transactions and reduce the time spent on admin tasks like invoicing and reconciliation.
“As an online business, we’re constantly evolving to meet the needs of modern retail, from how customers shop, to how sellers transact,” said Dan Finley, CEO of Debenhams Group.
“Mangopay offers the flexibility and strategic insight we need to optimise our marketplace operations.
“Their wallet-based infrastructure integrates effortlessly with our existing systems, allowing us to unlock efficiency without disruption.”
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Debenhams’ marketplace now features more than 15,000 premium brands and the demand for better payment tools is growing.
This is exemplified by Mangopay’s recent report – ‘insights into in-app wallets: What platforms must know about user behaviour and expectations’ – which found that 43% of users prefer using built-in wallet systems to send and receive money.
Mangopay is trying to help this growing demand by building payment tools for platforms that need to move money between lots of users, like online marketplaces.
Its system aims to help businesses stay in control of their payments, protect against fraud and automate complicated payment processes.
Jonathan Greenland, sales director at Mangopay, added: “We’re always proud to offer our wallet-based services to leading platforms such as Debenhams.
“When we’re working with innovative clients, it pushes us to be even more ambitious in how we evolve and deliver our infrastructure. We’re looking forward to seeing our joined forces thrive in this dynamic platform ecosystem.”