FOURSOURCE taps Mangopay to enhance textile marketplace experience

By Gloria Methri

FOURSOURCE, a tech-enabled B2B apparel and textile network, has appointed Mangopay to launch a customised end-to-end solution that will allow payments to take place within the platform for the first time.

FOURSOURCE is a network of more than 50,000 users across 120 countries, buying and selling apparel, fabric, trims, yarns and home textiles. Thanks to Mangopay’s seamless pay-in, e-wallet and payout technology, buyers and sellers will now be able to make and receive payments from within the trusted environment of the marketplace.

By embedding payments within the platform and removing the need for users to make their money transfer arrangements, the new solution provides enhanced security through e-wallets, an improved user experience and an additional revenue stream for FOURSOURCE.

Founded in 2017, FOURSOURCE offers a one-stop platform for secure orders and promotes sustainable textile production. Following the partnership with Mangopay, buyers are now able to turn requests for quotations into orders and order directly from sellers’ showrooms with security in every payment.

With its modular payment infrastructure, Mangopay supports multiple business models in the platform economy. The company supports platforms and marketplaces through its programmable e-wallet solution and end-to-end payment infrastructure, which covers everything from pay-in to payout and AI-driven fraud prevention solutions.

Jonas Wand, CEO and Co-founder of FOURSOURCE, said, “The partnership with Mangopay will help to take FOURSOURCE to the next level by allowing us to offer the security and trust that buyers and sellers are looking for in a highly fragmented textile industry. By embedding payments within our platform, we not only expect to provide our members with an improved user experience but also unlock new revenue streams for our business.”

Tristan Torres Velat, VP of Global Sales at Mangopay, said, “We are proud to be working with FOURSOURCE to transform the user experience by providing in-platform payments that buyers and sellers can trust. Supporting the growth of marketplaces and platforms is what we do best, and we are delighted to tailor our wallet-based infrastructure specifically to meet the expectations of the thousands of buyers and sellers using the FOURSOURCE platform.”