Mangopay Review

Mangopay Overview

Mangopay is a European payments infrastructure company founded in 2013, originally as a spin-off from the online crowdfunding platform Leetchi. The company is headquartered in Luxembourg and maintains offices across Europe. Mangopay specializes in providing wallet-based payment solutions designed specifically for online marketplaces and platforms.

The company is led by CEO Sergi Herrero, who joined Mangopay to oversee its growth strategy and expansion into new markets. Mangopay operates as a licensed Electronic Money Institution (EMI) authorized by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg, allowing it to operate across the European Economic Area. The company serves a wide range of industries including e-commerce marketplaces, crowdfunding platforms, and sharing economy services.

Mangopay Payment Solutions

According to our review, Mangopay offers the following payment infrastructure products and services:

Wallet-Based Payment System: Mangopay’s core offering is an e-wallet infrastructure that allows marketplaces to create individual wallets for buyers and sellers, facilitating secure fund transfers between parties.

Payment Processing: The platform supports multiple payment methods including credit and debit cards, bank transfers (SEPA), direct debit, and various local payment methods across European markets.

KYC/AML Compliance: Mangopay provides built-in identity verification and anti-money laundering compliance tools, helping platforms meet regulatory requirements for payment processing.

Split Payments: The platform enables automated split payments, allowing marketplaces to distribute funds between multiple sellers and collect commissions in a single transaction.

API Integration: Mangopay offers a RESTful API and SDKs in multiple programming languages, enabling developers to integrate payment functionality into their platforms.

Multi-Currency Support: The platform supports transactions in multiple currencies, facilitating cross-border commerce for international marketplaces.

Clean Complaint Record

We are unable to locate a couple of negative Premier Payments reviews. Given the fact that the payment processor claims to provide its services to high risk merchants, where a variety of issues can arise, this is a good indication of the quality of its service.

Mangopay Lawsuits

We have not found any outstanding class-action lawsuits or FTC complaints filed against Mangopay. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.

Mangopay Customer Support Options

Mangopay offers its customers a catalog of troubleshooting solutions on its website. Additionally, the company provides an automated contact form, phone support in English, German, French, and Spanish, as well as a live chat. This is a comprehensive level of customer support, however, Mangopay does not rank among our best merchant accounts for customer service.

No Red Flags

There is no evidence to suggest that merchants are having negative experiences with the company. Additionally, its comprehensive customer support channels is another factor behind the company getting an “A” rating in this category.

No BBB Profile Available at This Time

The Better Business Bureau does not currently maintain a profile for Mangopay. We therefore will not factor a BBB rating into this review.

Mangopay Pricing Structure

Mangopay facilitates payments made to crowdfunding campaigns by providing them with an online portal for fundraising. As such, the tradition merchant account pricing structure of that charges rates and transaction fees is not how the platform operates. Instead, payments made into crowdfunding campaigns are charged different rates depending upon their currency. Donations made in Euro are charges a rate of 1.8% plus 0.18€, donations made in British Pounds are charged a rate of 1.9% plus 0.20£, and all other currencies are charges the equivalent of 2.5% plus 0.25€.

Once a fundraising campaign decides to pay out the donations it has crowdfunded it is then charged a separate flat fee for that transaction. Pay outs in Euro are made within the SEPA zone (an ACH of sorts encompassing a network of EU member banks) are free. Those outside of the SEPA zone are charged 2.50€. Campaigns fundraising in British Pounds are charged a fee of 0.45£ within the BACS zone, while the fee rises to 1.90£ outside of the BACS zone. Payouts in alternative currencies supported by the platform are charged a fee of 2.50€.

Fundraising platforms are also charged a monthly minimum fee of 30€/£ if their transaction fees do not exceed that same amount. However, fundraising campaigns have 3 months to eclipse that figure for the first time. Other fees include a legal entity verification fee of 2.50€, a lost dispute fee of 15€ per incident, and a KYC refusal fee of an undisclosed amount in the event that 15% of a platform’s customers fail their own identity verification through the site on a monthly basis. The company states it does not charge monthly subscription fees, set up fees, technical support fees, or early termination fees.

A Straightforward Pricing Schedule

To its credit, Mangopay makes its rate and fee structure clear and transparent. The lack of membership fees, set up fees, or early termination fees limits the cost of its services. Those costs are offset by the few fees the company does charge as well as the fact that donors and fundraisers are charged a transaction fee. Despite that, many of the payout fees for Eurozone members can be free. Furthermore, fundraisers are charged a fee per pay out, as opposed to each individual donation, meaning that the cost may be limited depending on how frequently funds are withdrawn. Mangopay is award an “A” in this category for its transparency and relatively low fee structure.

No Known Legal Actions

We have not identified any significant lawsuits, regulatory actions, or legal complaints directly involving Mangopay at the time of this review. As a licensed Electronic Money Institution regulated by Luxembourg’s CSSF, Mangopay operates under strict regulatory oversight within the European financial services framework. Merchants or platforms with concerns about Mangopay’s services should contact the relevant financial regulatory authority in their jurisdiction.

Employing Independent Resellers

Mangopay hires independently contracted sales agents to sell its services. This is apparent from the partner program that the company advertises on its website. These programs are a common hiring practice within the credit card processing industry that often results in a sales team composed of poorly trained or unregulated agents. Fortunately, there are no public complaints regarding the company’s sales practices, which reflects well upon its independent agents.

No Misleading Quotes

To its credit, Mangopay does not advertise deceptive rate quotes. Given that honest advertising as well as its lack of complaints regarding independent resellers, we award the company an “A” in this category. If you suspect that the company is charging you undisclosed fees, we recommend seeking a third-party statement audit to find and eliminate hidden charges.

Tailor-made for a Niche

Mangopay is specifically designed to serve crowdfunding platforms and fundraisers. Its services are even more specialized than merely doing that by being designed to accept international payments across multiple currencies. While most merchants typically do not need the infrastructure to do so, those that do may be hard-pressed to find a merchant account that can facilitate their fundraising campaigns. Mangopay’s ability to do so while providing a clear and transparent fee structure makes the company a viable option, albeit for a fairly narrow niche of fundraisers.