Oro, Inc the company that owns OroCommerce has revealed a global partnership with world’s most trusted payment platform and NASDAQ Stock company Paypal Holdings Inc (NASDAQ:PYPL). OroCommerce is a flexible and open source B2B ecommerce platform.
With a raising need for companies to tap into the global market, the two companies have set up a fully integrated payment system that will help in streamlining operations for Oro’s B2B customers. This will go a long way in ensuring that customers have seamless means of payment, ability to track and receive goods and services.
OroCommerce, set up Magento founders is the first B2B ecommerce platform established by the group to cater for B2B ecommerce needs. These needs include streamlining buyer-seller relationships, automating business workflows and integrating with multi-channel CRM software.
The new partnership will enable PayPal to swiftly move and take a sizable share of the booming global B2B market. The B2B ecommerce market is expected to hit $12 trillion by 2020.
Head of PayPal Global Channel Partners Jason Smith says owing to its long term period in B2C payments there is an increasing rate of adoption of PayPal’s payment system by B2B businesses. He says OroCommerce has the resources and expertise needed to help PayPal offer great value and better payment methods to B2B merchants
Oro, Inc CEO and co-founder Yoav Kutner said it is pleasing and encouraging to partner with the world’s largest brand in payment. He adds that PayPal’s global presence and its expansion into B2B businesses is in line with Oro, Inc plans to build a seamless and flexible ecommerce platform meant for the global B2B market
Oro, Inc is a global software company and the owner of Oro suite of open source commerce applications. These applications include OroCRM, OroPlatform and most recently OroCommerce. OroPlatform is used by companies to accelerate development of their custome applications, OroCRM is a platform used by multichannel companies while OroCommerce is mainly made for B2B companies.
Founders of Oro, who also founded Magento are highly experienced in the ecommerce sector. They include Yoav Kutner, Jary Carter, Dima Soroka, and Roy Rubin.