July 8, 2020 – Monese has expanded its partnership with PayPal to six new European markets. As of today, Monese customers in Austria, Belgium, Luxembourg, the Netherlands, Poland and Portugal can use Monese through PayPal. They can access financial tools, make payments and improve personal finance management within a single app. The expansion follows successful integration in the UK, Germany, France, Italy and Spain at the end of 2019, where nearly 30% of active Monese customers linked their accounts to PayPal.
Monese customers in the six new markets benefit from a number of features that make it easier to manage money in their PayPal account. They can also use Monese in their digital PayPal wallet to make online, mobile and in-app payments. By adding a Monese card to their wallets, customers can send and buy money from the 325 million consumers and 25 million companies worldwide.
The collaboration also allows Monese customers to better manage the money in their PayPal account: the PayPal balance and transaction history up to 90 days are visible on this. Currently available to Monese account holders in 11 countries in Europe, these features provide customers with a holistic and optimal user experience.
“Monese is a solution for customers who are staying abroad for work, study, family or retirement and who are fanatical PayPal users at the same time. The expansion of our partnership with PayPal in six European markets demonstrates our commitment to creating value for all our customers who want access to global financial resources We offer account holders greater choice and flexibility to manage their finances – where, how and when they want,” said Norris Koppel, CEO and founder of Monese.
PayPal entered the funding round of Monese’s US $60 Million Series B in September 2018, enabling more people in Europe to access new digital banking services and use Monese as their primary bank account.