UK-based digital bank Monese has entered into a partnership with PayPal to improve access to financial offerings.
The collaboration will enable the customers to use their Monese and PayPal accounts together.
Go deeper with GlobalData
Monese- PayPal partnership:
The partnership will enable Monese customers to link their PayPal accounts and manage PayPal balance and transactions in the Monese app.
They can also add Monese card to PayPal digital wallet to pay and send money to PayPal users around the world.
Additionally, the user can add Monese as the preferred way of payment within the PayPal wallet.
Currently, these features are available only for Monese’ personal account customers in the UK. In the coming months, it will be rolled out across Europe.
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By GlobalDataIn a blog post, Monese said: “We’re really excited to launch our new collaboration with PayPal.
“Our customers travel the world for study, work, family, or retirement, and we know they’re avid PayPal users. So now you can get all the freedom of Monese, with the added scale, speed and security of PayPal.”
Customers can link their PayPal account in Monese app by tapping the ‘Account’ button and then ‘Add account’. By providing the PayPal credentials, they can connect the two accounts. They can also select the Monese cards they want to link.
Launched in 2015, Monese is said to have signed up more than one million customers.
In September last year, it raised $60m in its Series B funding round. Recently, it partnered with reward currency platform Avios.
