Following this announcement, the Electronic Money Institution (EMI) licence provided by the Financial Conduct Authority (FCA) will give Mangopay the possibility to provide its suite of services to UK-based companies and businesses while also accelerating its strategic plan of expanding its capabilities in the region.
The licence will also allow Mangopay to issue electronic money, facilitate digital payments, and deliver a range of other payment solutions and methods in order to meet the needs, expectations, and preferences of its clients while remaining compliant with the requirements of the industry at the same time. Customers will be able to navigate the complexities of digital commerce for international growth as well. In addition, businesses in the wider marketplace and platform economy will continue to benefit from Monagopay’s flexible and secure payment infrastructure.
Platform-specific payment infrastructure provider Mangopay offers its customers and users solutions that address the challenges of the industry by leveraging its modular payment infrastructure. The firm had multiple partnerships and product launches in the last couple of months, covering several different geographic areas around the world.
In September 2023, the company announced its collaboration with global enterprise digital commerce platform VTEX in order to extend an integration that was set to enable marketplace operators to cover both payins and payouts while using a single service. The strategic deal was expected to further aid the development of global marketplaces by providing positive and optimised buying and selling experiences.
The solution introduced by the partnership was released amidst an impending recession across the world, which determined retail businesses to intensify their platformisation capabilities and efforts. The demands for external expertise which was able to navigate intricate business models and dynamic client demands increased at the moment of the press release.
Earlier in the same month, Mangopay announced its partnership with Kriya in order to optimise the B2B payment experience of users. The strategic deal aimed to give Mangopay B2B marketplaces the possibility to develop a dynamic payment experience for its clients, while focusing on the process of removing friction and keeping business flowing in an easy and secure manner. Mangopay’s payment infrastructure was optimised with Kriya’s flexible trade credit, as well as with its Pay Later services.
Furthermore, business users were enabled to benefit from a checkout experience that was customised with their preferred payment methods and flexible terms. The product also provided them with upfront payment, which ensured a more secure transaction procedure.
For more information about Mangopay, please check out their detailed profile in our dedicated, industry-specific Company Database.
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