Debenhams is adding to its digital capabilities with a new payment wallet. This comes as the marketplace continues to invest in its operations.
The online marketplace, which recently signed up with AWS to improve its generative AI capabilities, has now selected Mangopay’s wallet infrastructure. It aims to improve the way it manages multi-seller payments and real-time fund distribution. The move will also automate reconciliation and invoicing.
“As an online business, we’re constantly evolving to meet the needs of modern retail, from how customers shop, to how sellers transact,” says Debenhams Group chief executive Dan Finley. He said the move gave it “the flexibility and strategic insight we need to optimise our marketplace operations”.
Mangopay cites its own research into in-app wallets to suggest that 43% of platform users prefer to transact through built-in wallets. Jonathan Greenland, sales director at Mangopay, says: ““We’re always proud to offer our wallet-based services to leading platforms such as Debenhams. When we’re working with innovative clients, it pushes us to be even more ambitious in how we evolve and deliver our infrastructure.”
Debenhams recently added a new virtual try-on platform as it invests in improving its technology.
Debenham was founded in 1778 by William Clark, and rebranded by William Debenham in 1813. Finley has led the business since January 2022. The one-time department store is now a pureplay marketplace that offers customers a range of more than 15,000 brands.
Stay informed
Our editor carefully curates two newsletters a week filled with up-to-date news, analysis and research. Click here to subscribe to the FREE newsletter sent straight to your inbox. Why not follow us on LinkedIn to receive the latest updates on our research and analysis?
