Announcement signifies the Alliance’s expansion into the fintech sector as more industries experience the benefits of MACH
MACH Alliance, the group of independent tech companies dedicated to advocating for open, best-of-breed technology ecosystems, announced that PayPal has become the first company to join its new Supporter membership category. The move by PayPal represents the expansion of MACH Alliance into the fintech sector and highlights the sector’s readiness for MACH.
The Supporter membership category is for companies that sit outside of the requirements for MACH certification but who have a strong association with MACH technology and the MACH ecosystem. Those could include large technology companies, financial services organizations, government bodies, private foundations, academic institutions and private equity or venture capital firms.
Latest Fintech News: CFPB Takes Action Against ACI for Illegally Processing $2.3 Billion in Mortgage Payments that Homeowners Did Not Authorize
“The PayPal Channel Partner team are big believers and promoters of composable commerce and its benefits across the fintech landscape,” said David Bruce, VP, Global Head of Channel Partnerships, PayPal. “We’ve long been working with other technology providers to deliver a complete commerce solution for merchants that’s built around MACH principles. We’re eager to work with the MACH Alliance and its members to continue promoting the many upsides of MACH within our industry.”
PayPal already works with several MACH Alliance members in various capacities including BigCommerce, Bold Commerce and EPAM. The company provides payment processing services as part of the commerce platforms from BigCommerce and Bold Commerce, and EPAM develops integrations to enable PayPal payment services for both partners and merchants.
Latest Fintech News: Clip Money Is the Preferred Cash Deposit Solution for Experiential Photography Leader Cherry Hill Programs
“It’s a natural fit to have PayPal formally engaged with the MACH Alliance given the close work they have long been doing with many of our members,” said Holly Hall, MACH Alliance Managing Director. “Having their trusted brand associated with the Alliance will open doors for both parties in a big way.”
PayPal’s membership and the announcement of the new Supporter category are the latest in a series of milestones that represent the continued momentum of the Alliance. The group now has nearly 90 members, many of whom came together at MACH TWO in Amsterdam this month discussing the benefits of MACH and how to embrace the changes necessary to make the most of them.
Latest Fintech News: Visa and SAP Join Forces to Make Enterprise Payments More Efficient
[To share your insights with us, please write to sghosh@martechseries.com]
