Communication is one thing, the truth is often another: although Mangopay announced Thursday morning that it had acquired the Irish fintech WhenThen, after , the two transactions took place in reverse order. €45m for WhenThen and €51.6m for Nethone, three weeks later in November, as indicated in the documents published at the commercial registry.
Nevertheless, less than a year after the acquisition of the Crédit Mutuel Arkea nugget by the American fund Advent, the fintech led by Romain Mazeries is continuing to move forward. After the announcement of the acquisition of the Eastern European anti-fraud detection solution, this new announcement offers a technological synergy to facilitate payment between customers and merchants or e-merchants:
- powerful payment orchestration, to perform intelligent payment routing to reduce costs, remove barriers at checkout and increase conversion rates across all payment methods.
- increasing local checkout conversion rates and meeting customer expectations by being able to instantly add payment methods to their checkout flow in a few clicks via a self-service dashboard.
- securely store and access customer card data via a PCI DSS Level 1 certified vault in the cloud that not only tokenises customer cards, but also enables the use of network tokens (Visa, Mastercard, Amex) and automatic card updates, ensuring that platforms always have the latest information on their customers’ cards.
- automate time-consuming manual payment operations via a payment insights and operations dashboard to unlock hidden revenue by correcting payment inefficiencies and issues such as disputes, refunds, declines and failed transactions.
Businesses have had to adopt a single payment system approach for too long. We want to give them more control, flexibility and scalability.
“We are extremely excited to be embarking on the Mangopay journey and becoming the next global leader in payments for platforms,” adds Kirk Donohoe, co-founder and CEO of Whenthen, now Mangopay’s chief product officer. “Platform-based businesses, large and small, are looking for flexibility in how they build and operate their payment stack as they strive to achieve their growth and revenue goals. They have had to adopt a single payment system approach for too long. We want to give them more control, flexibility and scalability.”
On the executive committee, the man who spent three and a half years at Mastercard in Dublin as senior vice president of innovation joins CTO Ronen Benchetrit (ex-Zopa, Bumble), CRO Luke Trayfoot (ex-PayPal), lawyer Olympe Leflambe (ex-eBay), CFO Carlos Sanchez Arruti (ex-Amazon) and Nethone CEO Hubert Rachwalski.
Last week, Mangopay announced that it was strengthening its partnership with PayPal to make PayPal’s global payment facilities and functionality available to all marketplaces more quickly.
This story was first published in French on . It has been translated and edited for Delano.