With Cash Wallet, users who are registered on the Sorare platform gain the ability to make payments using real-world currencies such as USD, EUR, and GBP. The feature is scheduled to become available in early August 2023, and it will be available to all Sorare Managers as part of the Sorare Wallet System.
In essence, Sorare partnered with Mangopay to improve the user experience of its new and existing Managers by allowing them to securely connect their bank accounts to Sorare, store credit card details, and deposit money directly in their Cash Wallet to buy and sell cards using popular currencies.
Sorare representatives cited by ibsintelligence.com highlighted the company’s adoption of blockchain as well as the benefits this technology can deliver to sports fans and fantasy gamers in the form of proven authenticity, scarcity, and portability. They also talked about newer technologies and the launch of Cash Wallet, which aims to improve the user-friendliness of Sorare by helping Managers build their teams and collections using real-world currencies for the very first time.
Mangopay officials cited by the same source emphasised the partnership’s potential to improve its strategic position while laying a foundation for more joint advancements in payment solutions.
Mangopay empowers the platform economy with a comprehensive payment infrastructure. Created in 2013, Mangopay serves more than 2,500 leading platforms and marketplaces. Built around its programmable e-wallet solution, the company’s end-to-end infrastructure covers all platform payment needs with total integration flexibility and workflows for every business model.
In July 2023, Vestas expanded its partnership with Mangopay to manage the payment flows of its B2B marketplace, Covento.
Covento activates in the renewable energy sector, being a B2B marketplace that connects buyers and sellers of parts and services across varied renewable energy technologies. According to the company press release, the extended partnership builds on the companies’ collaboration beginning in 2021 and is set to have Mangopay manage all payment flows simplifying the procurement process for renewable products and providing a payment experience similar to that of B2C ecommerce sites.
At the time, Mangopay representatives highlighted that B2B payments are at the centre of the B2B marketplace and are considered pivotal in facilitating simplified coordination and execution of complex transactions in a matter of a few clicks for both buyers and sellers.
For more information about Mangopay, please check out their detailed profile in our dedicated, industry-specific Company Database.
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