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Designed for International Fundraising Transactions
Founded in 2010, Mangopay is a merchant account provider based in Luxembourg. The company provides end-to-end payment solutions for online marketplaces and crowdfunding platforms. The company allows merchants to set-up e-wallets for its customers so they can automate payments from them. Mangopay markets its services specifically to international merchants, facilitating payments in multiple currencies. The platform supports donations made in Euro, US Dollars, Canadian Dollars, British Pounds, Swiss Francs, Swedish Crowns, Polis Zloty, Czech Koruna, Emirati Dirham, and Japanese Yen, among others. The company is apparently a part of Leetchi Group, a crowdfunding platform based out of France.
Location and Ownership
Mangopay is headquartered at 2 Avenue Amélie, L-1125 Luxembourg. Céline Lazorthes is the CEO of the company. Mangopay as part of the Leetchi Group, is owned by Crédit Mutuel Arkéa, which is headquartered at 29480 Le Relecq-Kerhuon – France.
Mangopay Review Table of Contents
- Costs & Contract: Manogpay charges transaction fees for donations into and pay outs made from crowdfunding campaigns without an early termination fee.
- Complaints & Service: Mango Pay has received fewer than 10 public complaints.
- BBB Rating: Mangopay does not currently have a profile with the Better Business Bureau.
- Sales & Marketing: Mangopayhires independent sales agents but has not had complaints about its sales practices.
- Rates & Fees: How Merchants Got The Best Rates With Mangopay.
Mangopay Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||<10|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
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.
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.
Mangopay Online Ratings
Here's How They Rate Online
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 Fees, Rates & Costs
A Closer Look at The Contract
|Euro Pay In Rate||1.8% + 0.18€|
|Pound Pay In Rate||1.9% + 0.20£|
|Alternative Currency Pay In Rate||2.5% + 0.25€|
|Euro Pay Out Fee||0.00€ - 2.50€|
|Pound Pay Out Fee||0.45£ - 1.90£|
|Alternative Currency Pay Out Fee||2.50€ (adjusted to exchange rate)|
|Legal Entity Verification Fee||2.50€|
|Monthly Minimum Fee||30€/£ (beginning after 3 months)|
|Lost Dispute Fee||15€ Per Incident|
|KYC Refusal Fee||Undisclosed|
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.
Mangopay Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Employs Independent Resellers||Yes|
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||No|
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.
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