Rainforest, a payments infrastructure provider for vertical software platforms, has added PayPal, Venmo and PayPal Pay Later to its checkout offering, allowing software platforms to present a unified suite of payment options to their merchants and end customers through a single integration.
The addition sits alongside existing options, including cards, Apple Pay and pay by bank, and is designed to consolidate deposits, reporting and data pipelines into one system rather than requiring platforms to manage separate integrations for each payment method.
Rainforest said the partnership is intended to accelerate the shift away from offline payment methods, noting that 61% of Americans still write cheques and that cheques remain the payment method most frequently implicated in payment fraud.
Benefits cited by the company include a single API to configure payment amounts and platform splits, unified reporting covering PayPal and Venmo transactions, metadata linking payments to customers or invoices, real-time payment status, and consolidated daily or weekly deposits with itemised reporting.
Joshua Silver, founder and chief executive of Rainforest, said platform customers had been asking for a PayPal integration as they sought to move transaction volume away from cash and cheques toward digital payments.
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Taira Hall, senior vice president and head of SMB commercial at PayPal, described vertical software as a strategic growth area for the company as more commerce moves directly into software platforms.
Financial terms of the partnership were not disclosed.
The recap
- Rainforest embeds PayPal, Venmo and PayPal Pay Later.
- 61% of Americans still write checks, the release says.
- Platforms can enable merchants via one onboarding flow.
