Expanded integration brings PayNearMe clients increased reliability via PayPal’s full stack processing capabilities for payments and disbursements
PayNearMe, the fintech company bringing progress to payments, today announced an expansion of its strategic collaboration with PayPal. The expanded integration with PayPal’s full stack processing capabilities for both payments and disbursements into the PayNearMe platform, helps increase reliability and expand PayNearMe’s banking partnerships.
PayPal helps strengthen PayNearMe’s core banking infrastructure and makes its Smart Switch technology—which enables processing redundancy for billers and iGaming operators—even more robust and reliable, helping to enhance acceptance rates and lower processing costs for the company’s clients.
Read More: Going Green: It’s Time to Fix Financial Services’ Carbon Footprint
“PayPal has processed more than 25 billion transactions and is known for its processing stability. By adding PayPal’s full-stack processing capabilities to the PayNearMe platform, we bring even more redundancy to our Smart Switch technology, helping to ensure maximum uptime and reliability for our clients,” said John Minor, EVP and Chief Product Officer, PayNearMe. “PayPal has built a world-class processing stack and we are excited to continue to bring some of the best-in-class technology to our clients.”
PayNearMe has offered PayPal and Venmo as payment options on its platform since 2022 and is now working to bring these and other PayPal capabilities to more clients through a single integration. The expanded integration provides the market with fast and more streamlined onboarding of PayPal services.
This collaboration sets the stage for future innovations as PayNearMe continues to build its open ecosystem, enabling easy integration with additional PayPal services as well as other technology partners. This approach to innovation and value creation benefits PayNearMe’s clients by enabling them to offer more payment options and is designed drive up acceptance rates and help lower the total cost of ownership.
Read More:Â Global Fintech Series Interview with Joe Myers, Executive Vice President, Global Banking at Diebold Nixdorf
[To share your insights with us, please write to psen@itechseries.com ]
