Mangopay builds UK presence with Level39 residence

Source: MANGOPAY

MANGOPAY, the payment solution for marketplaces, crowdfunding platforms and collaborative economy players, has expanded its presence to the UK.

On the back of signing some key players within the marketplace and crowdfunding market, MANGOPAY has recently opened offices at Level 39, Canary Wharf in London. Level 39 is the largest technology accelerator space for finance, retail and future cities technology companies. Here, Cassie Craddock, the recently appointed UK sales executive, will be the main point of contact for incoming sales leads.  

As an introductory offer to the market, MANGOPAY will be removing all fees for cash in transactions for the first £20,000 collected. 

MANGOPAY has chosen Barclays as sole provider of its UK banking services. Phil Bowkley, Head of Funds & FinTech, Corporate Banking, Barclays, comments: “MANGOPAY is a key provider of payment solutions for the growing European digital marketplace and crowdfunding sector. We are pleased to support them at this exciting time in their journey, as they expand their presence in the UK and offer their clients a high quality, secure and responsive service.”

Céline Lazorthes, Founder and CEO of MANGOPAY, comments: “Having an office in the financial capital of Europe is a very exciting step for MANGOPAY. Across Europe, we processed £100 million in 2014 and are continuing to sign up new clients at a rapid pace. I’m excited for what this year is set to bring and the opening of our London office is a great way to start 2015.”

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 offers 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, Sofort 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 350 European sites to manage their payments, as the collaborative economy gets even stronger.  Clients using the MANGOPAY API include, Vinted, Vestiaire Collective, Ulule, Crowdrooster, Crowd2fund, BankToTheFuture and Farmdrop.  

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