Digital challenger bank Monese announced on Thursday it has formed a new collaboration with payments platform giant PayPal. Monese reported that customers in the UK will be able to do the following:
- Link Monese and PayPal accounts, to manage PayPal balance and transactions in the Monese app
- Seamlessly add Monese card to PayPal digital wallet to buy from, and send money to, PayPal’s 277 million consumers and merchants around the world
- Easily select Monese as preferred way to pay within PayPal wallet
Monese also reported:
“Now, you’ll be able to check your PayPal balance or review recent transactions just by opening the Monese app. It has never been easier to manage your PayPal account, alongside your other finances and payments, from within the Monese app. You can link your PayPal account by tapping the ‘Account’ button on the top left-hand side of the home screen, and then ‘Add account’. From there, select ‘PayPal’ and then ‘Link PayPal’. Select the Monese card (or cards) you’d like to link, and you’ll be prompted to enter your PayPal login credentials.”
Jennifer Marriner, VP of Global Markets and Partnerships of PayPal, also reportedly stated:
“This partnership furthers our mission to democratise financial services. We work with innovators like Monese, so people outside the traditional financial system can use our tools to thrive in the global economy. Many of Monese’s customers use it as a primary financial account and we look forward to serving them on our platform as we continue to partner on new services and experiences.”
Norris Koppel, CEO and Founder of Monese, added:
“We are delighted to make it easier for our customers to connect to PayPal, wherever they may be in the world. We serve a fast-growing and incredibly international audience who travel the world for study, work, family, or retirement, and are avid PayPal users. These customers increasingly expect the financial freedom to thrive anywhere. Through our partnership with PayPal, our customers will have greater choice and more access to doing business around the world.”
