Monese, the provider of a banking app for people and businesses, launched a collaboration with PayPal (NASDAQ: PYPL) that expands access to financial tools and the global economy for its customers.
PayPal participated in Monese’s US$60M Series B funding round in September 2018.
Customers will benefit from a number of new features to manage money in their PayPal account through Monese and use Monese in their PayPal digital wallet to pay online, on mobile and in app.
They will be able to:
– add a Monese card to their PayPal digital wallet so that they can send money to and buy from 277 million consumers and merchants around the world,
– select Monese as their preferred way to pay within the PayPal wallet,
– manage their PayPal balance and transaction history in the Monese mobile app.
These features are now available to Monese personal account customers in the UK, and will be coming to the rest of Europe, as well as Monese Business customers in the coming months.
Founded in 2013 by Norris Koppel, CEO, Monese provides a banking app to people who live some part of their life in another country whether it’s for travel, work, business, study, family, or retirement and businesses.
Its mobile-only dual UK and European IBAN current account is portable across 31 countries, and available in 12 languages in English, French, German, Romanian, Polish, Portuguese, Italian, Spanish, Bulgarian, Czech, Lithuanian and Turkish.
The company employs over 250 people, and has offices in London, Tallinn, Lisbon and Berlin.