Magento, an open source e-commerce platform, and PayPal said that they are expanding their relationship to offer PayPal to online retailers through Magento’s open source shopping offerings.
Under the agreement, PayPal will be integrated and promoted to merchants and developers using Magento’s service, allowing businesses to run with e-commerce and online payments. In the coming months, merchants and developers who integrate Magento will have automatic access to PayPal’s payment engine.
PayPal and Magento have also agreed to co-market their services and will collaborate on product development. The companies expect to complete the next stage of their product integration later this year.
Magento is an open source e-commerce platform that offers merchants with flexibility and control over the presentation, content and functionality of their online channel. Its administration interface features marketing tools and a catalog-management engine.
Roy Rubin, CEO of Magento, said: We are thrilled to be working more closely with PayPal to introduce Magento to a new class of merchants, as well as offer PayPal to Magento’s existing customers. PayPal’s commitment to open source supports the community’s efforts and helps to establish Magento as a leader in the e-commerce ecosystem.
