Mangopay gets FCA authorisation
Mangopay has been granted authorisation for the Financial Conduct Authority (FCA) to act as an electronic money institution in the UK.
The platform-specific payment infrastructure provider is used by many alternative lenders such as peer-to-peer lending platforms. The authorisation means that Mangopay’s clients can now use it to facilitate digital payments and provide a range of payment solutions.
“At Mangopay we are laser focused on providing marketplaces and multi-sided platforms of all types with tailored, modular solutions that remove the complexity of payments and help their businesses to grow,” said Romain Mazeries, Mangopay’s chief executive.
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“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. We’re excited to continue serving businesses in the UK having received our new license from the FCA.”
Luke Trayfoot, Mangopay’s group chief revenue officer added that the license will help the company to expand its business across the UK.
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“Mangopay already has a very strong footprint in Europe, and the FCA license is critical to us achieving our ambitious growth plans for the UK as we expand our business,” Trayfoot said.
“We are extremely proud to be receiving our e-money license in the UK, which validates the robust capital, regulatory, and security standards that we uphold. We’re looking forward to working with our existing and new UK customers to support their growth journeys both here and around the world.”
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