Mangopay, a payment infrastructure provider for enterprise platforms, has introduced Echo, a solution designed to let businesses centralise payments processed by multiple existing payment service providers (PSPs) in one system for reconciliation, wallet allocation, splits, and payouts.
Addressing fragmentation in multi-PSP payment flows
Platforms increasingly work with several PSPs to serve different markets, offer local payment methods, and improve transaction acceptance rates. While this approach supports acceptance, it can leave the post-acceptance process fragmented, with information about funds distributed across separate systems, reports, and settlement processes.
With this in mind, Echo is designed to let platforms retain their existing PSP arrangements while managing the post-payment process through Mangopay. The solution establishes a single record showing where funds are located, to whom they belong, and when they can be released to the relevant user account. PSPs continue to handle pay-in processing, while Mangopay's infrastructure becomes the point from which platforms manage downstream money movement, including reconciliation, wallet allocation, splits, and payouts.
According to Andy Wiggan, Mangopay’s Chief Product Officer, scaling platforms operate in a competitive environment with a growing number of PSP options, and each additional provider adds a separate reconciliation process and data structure for the platform to accommodate. Echo has been developed to help reduce these operational costs while allowing platforms to continue selecting the PSPs that suit their business strategy.
Industry data on reconciliation and visibility
Mangopay’s research `The operational challenges behind multi-party payment flows` found that 86% of enterprise platforms still rely on manual reconciliation, while 30% identified better visibility over money flows as an improvement they expect would significantly affect their payment operations. In addition, the company has supported platforms navigating the operational demands of multi-party payment flows for more than ten years.
The introduction of Echo reflects a broader shift for platforms managing payments across multiple providers, moving from setups tied closely to individual PSPs toward a more centralised model. Under this approach, PSPs retain their role in payment acceptance, while platforms maintain control over how funds move between users, partners, and their own operations.
The solution is aimed at enterprise platforms handling rising transaction volumes across multiple markets and providers, for which post-acceptance processes such as reconciliation and payout management have become increasingly complex to coordinate manually.
