What is Mangopay?
Mangopay is an online payment services provider based in Luxembourg. It was founded in 2012 with the goal of making it easy for platforms like marketplaces, crowdfunding sites, and other subscription-based services to accept payments and manage funds.
Some key features of Mangopay include:
- Payment processing - Mangopay handles credit/debit cards, bank transfers, mobile payments and more. It provides a seamless payment experience and handles compliance requirements.
- Escrow and fund management - Money collected can be held securely in escrow and later distributed to recipients. This facilitates marketplaces and crowdfunding campaigns.
- KYC/AML compliance - Mangopay does required Know Your Customer and anti-money laundering checks on both payers and payment recipients.
- Payouts - Allows easy domestic and international payouts to bank accounts or payment cards.
- White label options - The platform can be rebranded to fit seamlessly into an existing site.
Mangopay makes it simple to not only accept various payment methods but also manage all the regulatory requirements, fraud prevention, escrow services and payouts. This allows online platforms to focus on their core business model.