Mangopay Granted UK E-Money License

Published 7 months ago

Payments infrastructure provider, Mangopay, has obtained an Electronic Money Institution (EMI) authorisation from the Financial Conduct Authority (FCA). This license will play a crucial role in the company’s strategic commitment to expanding its UK operations.

New Opportunities for Growth in UK

The EMI license enables Mangopay to issue electronic money, facilitate digital payments, and provide a variety of payment solutions to companies based in the UK. The authorization strengthens Mangopay’s position in the country and is expected to spur growth.

Romain Mazeries, CEO of Mangopay, emphasized the company’s commitment to offering tailored, modular solutions for marketplaces and multi-sided platforms. He said, “Exceptional product development combined with a relentless customer focus is in Mangopay’s DNA, and this FCA authorisation will unlock further innovation in the market.”

Luke Trayfoot, Mangopay’s group chief revenue officer, who oversees the company’s UK entity, echoed these sentiments. He highlighted that the FCA license is critical for achieving their ambitious growth plans in the UK.

A Strong European Footprint

Founded in 2013, Mangopay has a strong footprint in Europe, with offices in London, Dublin, Paris, Milan and five other major European cities. The company offers a modular payment infrastructure for platforms and marketplaces and has supported over 2,500 platforms in the past decade.

The receipt of the UK e-money license not only validates the stringent capital, regulatory, and security standards upheld by Mangopay, but it is a significant step forward for the company in its strategic expansion in the UK.