February 10, 2014, 1:03 PM — Online and mobile payment services company, PayPal, is extending its vertical reach through a new partnership with enterprise payment processing solutions provider, Paycorp.
The agreement will enable Paycorp to process and deliver transactions to PayPal for various market verticals and merchant categories.
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In turn, PayPal payments will be integrated into a selection of Paycorp's existing payment solutions. This includes RentPay which is used by real estate agents to process rent payments.
"We are seeing an increased demand by consumers for flexibility and choice in regards to digital payments, with mobile serving as a critical channel," PayPal enterprise sales director, Simon Banks, said.
"As consumers continue to evolve behaviours and embrace new technologies different payment options is becoming more crucial than ever for merchants."
According to Paycorp International managing director, Mazeen Farook, PayPal's security proposition is the key factor behind Paycorp's decision to enter the partnership.