LONDON—Alternative financial services provider Monese said it is collaborating with PayPal to expand access to financial tools, allowing its customers to manage and use their Monese and PayPal accounts together.
The new integration allows Monese customers to add a Monese card to a PayPal digital wallet, and will be able to manage their PayPal balance and transaction history in the Monese mobile app.
The new features are now available to Monese personal account customers in the U.K., and will be coming to the rest of Europe and Monese Business customers in the coming months, Business Cloud reported.
Founded in 2013, the U.K.-based fintech firm offers an “instant” U.K. current account for customers without the residency restriction imposed by traditional banks, Business Cloud noted.
The feature allows expats and people who travel to set up a card even when outside the U.K.
Democratizing Financial Services
“We are delighted to make it easier for our customers to connect to PayPal, wherever they may be in the world,” said Norris Koppel, CEO and founder of Monese.
Jennifer Marriner, VP of global markets and partnerships of PayPal, added: “This partnership furthers our mission to democratize financial services.”
Monese recently announced that over one million people have signed-up with the company, and it now sees 3,000 people joining the digital bank Monese every day.