In essence, this new collaboration with PayPal is aimed at broadening the spectrum of payment options for commercetools customers through the PayPal Braintree payment platform. This strategic integration aims to allow customers to engage with various payment providers, acquirers, and banks thus optimising the overall customer experience.
In the company press release, officials from commercetools emphasised the need to provide global customers with enhanced payment options, particularly for cross-border transactions across numerous global markets. The choice to partner with PayPal was based on its association with MACH (Microservices, API-first, Cloud-Native, and Headless) technology, reinforced by its recognition as the MACH Alliance's first supporting member.
The integration of PayPal Braintree as a commercetools Connect-ready component aims to expedite the time-to-value for businesses. This integration caters to both backend and frontend environments, including various JavaScript frontends, aligning with the goals of both companies to deliver improved experiences for customers and streamline backend developer support.
Some of the primary benefits of this collaboration include the expansion of payment options, encompassing debit and credit cards, digital wallets, PayPal Later, and local payment methods across more than 200 markets and 135 currencies. Moreover, the partnership supports the integration of customisable fraud prevention tools, including risk services such as Fraud Protection for eligible transactions and Dispute Automation.
Officials from PayPal expressed strong support for composable commerce and the MACH approach, highlighting PayPal's commitment to working with commercetools to expand customer payment solutions.
Commercetools is a composable commerce platform that allows companies to dynamically customise and scale their shopping experiences across diverse markets. The company's approach equips businesses with tools to future-proof their digital offerings, mitigate risks and costs, and create better customer experiences that drive revenue growth.
Headquartered in Germany, commercetools combines cloud-native, technology-agnostic, independent components into a system that caters to specific business requirements. According to the official press release, the platform was adopted by brands such as Audi, Danone, Eurorail, NBCUniversal, Sephora, and the Volkswagen Group.
In other developments from PayPal, the company has obtained approval from the Financial Conduct Authority (FCA) to offer crypto asset services in the UK. The FCA has also brought in tougher safeguards on marketing crypto assets, which have put forth difficulties for rival companies.
For more information about PayPal, please check out their detailed profile in our dedicated, industry-specific Company Database.
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