Oro, the software company behind B2B eCommerce platform OroCommerce, has entered into a global partnership with payments giant PayPal, to streamline transactions.
The two companies have developed a fully integrated payments platform, which is integrated into Oro’s eMarketplace.
The platform will streamline workflow of Oro's B2B customer, enabling them to offer their clients a seamless way to pay for, track and receive goods and services.
The deal will enable PayPal to gain a strong foothold in lucrative global B2B ecommerce market, which is projected to reach $12 trillion by 2020.
Commenting on the partnership, PayPal global channel partners head Jason Smith said: "Having been the market leader in B2C payments for more than a decade, we are now seeing a growing adoption rate of PayPal by B2B businesses. As the industry's first ecommerce platform built specifically for B2B companies, OroCommerce has both the expertise and resources we need to help us deliver greater value and provide better payment experience for our B2B merchants."
Oro CEO and co-founder Yoav Kutner said: "We are excited to begin a new chapter with PayPal, the largest brand in payments. PayPal's global footprint and its expansion into B2B businesses strongly align with our focus on building a flexible, seamless ecommerce solution tailored for the global B2B market."