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Mangopay goes international with new currencies

18 February 2014  |  1455 views  |  0 Source: Mangopay

Mangopay, the payment solution for marketplaces, crowdfunding platforms and collaborative economy players, has announced that it is strengthening its offering with new functionalities and accepting seven further currencies.

The new user-friendly features include:

• Seven new currencies (British pound, American dollar, Swiss franc, Polish zloty, Norwegian, Swedish and Danish krone) in addition to the euro. The Australian and Canadian dollar will also soon also be accepted
• In-app payment using card "tokenisation", which allows merchants to receive payments without users leaving their platform
• New open source development kits to make integration easier e.g. PHP, Python, Ruby and Java
• Test accounts for merchants and the option to go live directly via mangopay.com

With a pan-European Union e-money issuer licence (EME), MANGOPAY is a comprehensive solution for international markets. The company helps clients accept third-party payments, create and manage e-wallets (white label), split funds and collect fees in a simple, secure and transparent way.

MANGOPAY is unique in its highly competitive pricing, which is calculated based only on incoming payments and adapted to decrease as monthly sale volumes increase. MANGOPAY offers a basic rate of 1.8% + €0.18 for the euro and 2.5% + €0.25 for other currencies (a full breakdown of which can be seen in the pricing list). Depending on client needs, free options are also available, such as one-click or recurring payments, and local payment methods (e.g. ELV, Maestro and iDEAL).

One of the main technical challenges for online marketplaces, crowdfunding platforms and mobile applications across Europe is to implement a payment management system adapted to their requirements, which is international and respects European regulations. MANGOPAY has already signed up 150 European sites to manage their payments in the last 10 months, as the collaborative economy gets even stronger. Clients using the MANGOPAY API include Vestiaire Collective, Ulule, La Fourchette, Vinted, Payplug, SmartAngels, Hopwork, Trendu, Eppela, IlockYou, Sailsharing, Qhaceshoy and Farmdrop. MANGOPAY handndled than €50 million in 2013.

Sebastien Fabre, Vestiaire Collective, said, "A solution aligned to the needs of our international community. Finally, an effective response to market requirements! Well done MANGOPAY!"

Alexandre Boucherot, Ulule, said, "We needed a secure solution to collect third-party payments. MANGOPAY allows us to manage e-wallets as a white label for our users in an environment that is 100% in line with all regulations."

Céline Lazorthes, CEO, MANGOPAY and Leetchi.com, said, "I'm proud to announce that MANGOPAY is now compatible with a wide range of currencies. This was an essential requirement for many of our international clients which we needed to meet. When I created Leetchi.com in 2009, I dreamt of having this kind of solution in my hands!" 

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