Mangopay
Luxembourg e-money institution that lets marketplaces and platforms run wallets, virtual IBANs, split payments and payouts on one integration
Quick Overview
| Company | Mangopay S.A. |
|---|---|
| Category | Banking as a Service (BaaS) Providers |
| Headquarters | Luxembourg, Luxembourg |
| Founded | Not stated |
| EU Presence | Yes - Luxembourg (EU, CSSF) |
| Data Location | Not stated on the pages read |
| Open Source | No |
| GDPR Compliant | Yes |
| Self-Hosting | No |
| Main Features | Wallets, virtual IBANs, multi-currency accounts, FX, pay-ins, split payments, payouts, identity verification, fraud screening |
| Pricing | Custom volume-based pricing; no public tiers or free plan |
| Best For | Marketplaces and platforms handling payments between several parties |
| Replaces | Unit wallets, Treasury Prime, Stripe Connect |
Detailed Review
Mangopay S.A. is, in the words of its EU terms page, an electronic money institution approved by the Luxembourg CSSF to provide payment services in the European Economic Area. A separate terms page serves users of UK platforms.
It is aimed at platforms, not consumers: the pricing FAQ says it does not offer personal wallets, consumer IBANs, bill payments or retail financial services.
Wallets as the building block
Each user on a platform can receive a wallet, and a wallet can carry as many IBANs and currencies as needed. The homepage names collection, escrow, loyalty, refund and treasury wallets as typical roles. Every wallet has its own identifier, which the vendor ties to simpler reconciliation.
Pricing details mention unlimited e-wallets, unlimited virtual IBANs and wallet-to-wallet transfers.
Splitting money between parties
Multi-vendor baskets and payment splits are supported natively, so the platform keeps its fee in a separate wallet and releases the rest to sellers. Payouts reach 30 or more countries with local settlement, and pay-ins cover 30 or more payment methods in 15 or more currencies.
Identity and risk checks included
Individual and business verification is offered for more than 190 countries, hosted or by API, with a fraud module on top. The vendor lists a 97.5 percent precision for its machine learning models, a self-reported figure.
Limitations to Consider
Mangopay is built for multi-party payments, so a platform that mainly wants a customer-facing current account or a card programme gets less from it; Swan or Wallester fit better. There is no public price list, no free plan, and certain industries are excluded under a published prohibited-businesses page. Balances are e-money, not bank deposits.
Who Should Use Mangopay
Marketplaces, SaaS platforms and crowdfunding or travel businesses that collect money from buyers and pay it out to many sellers inside Europe.
Pros and Cons
Pros
- Wallet model made for multi-party flows
- Unlimited virtual IBANs per the pricing details
- Split payments and payouts built in
- Identity checks in 190+ countries
- Luxembourg e-money licence
Cons
- Custom pricing only
- Not a card-issuing or consumer-account product
- E-money rather than deposits
- Prohibited-business list narrows eligibility
Alternatives to Mangopay
Other European banking as a service (baas) providers worth comparing before you decide:
Griffin
United Kingdom · London bank with its own core system and a public platform price
Swan
France · Paris e-money institution selling business accounts and cards to software
Wallester
Estonia · Tallinn Visa principal member issuing cards and IBAN accounts under your brand
Paynovate
Belgium · Brussels e-money issuer combining IBAN programmes, card issuing and acquiring
See all European banking as a service (baas) providers or compare them directly against Unit wallets on our alternatives page.
Frequently Asked Questions
No. The EU terms page says Mangopay S.A. is an electronic money institution approved by the Luxembourg CSSF, so balances are e-money held in wallets.
No. The pricing FAQ says it does not provide personal wallets, consumer IBANs, bill payments or retail financial services; it serves platforms.
The pricing page describes a custom, volume-based model with tiers that lower fees as volume rises. It states there are no fixed public tiers or free plans.