Mollie secures FCA Payment Institution licence, paving the way for growth and enhanced services in the UK market.
The Financial Conduct Authority (FCA) of the UK has awarded a payment institution licence to Mollie, a payment service provider.
Mollie UK will be able to launch additional products and reach more merchants thanks to the licence. In 2024, the corporation plans to continue on its continental path. It intends to provide extra payment options together with fully integrated company financing services.
The FCA granting us a Payment Institution licence is a significant accomplishment that demonstrates our commitment to providing merchants with top-notch goods, as stated by Mollie CEO Koen Köppen. As a business, this licence gives us additional opportunities for development and cooperation in addition to giving us a solid presence in the competitive UK market. We are eager to keep influencing how payments are made in the UK in the future.
In the UK, Mollie debuted in early 2021. It used to function under the Temporary Permissions Regime for financial services companies with headquarters in the EU. This regime came into effect after Brexit. The new UK licence, which attests to Mollie’s capacity to function as a financial services firm with two licences in several countries and regions.
When it launched in the UK, 90% of UK merchants cited foreign expansion as a top strategic aim, according to Mollie’s research among e-commerce firms. With its local support team and innovative payment system, Mollie has emerged as a desirable service provider for UK merchants, particularly those who are expanding globally.
An example case study
Mollie is compatible with nearly every e-commerce platform. It also maintains a robust, reliable product offering, integrates with all the leading technological partners, including Klaviyo, and offers access to hundreds of local payment options.
This is how companies such as Lounge Pants financed their development into the EU’s mainland. Regarding Lounge’s entry into the Netherlands, Daniel Marsden, the company’s founder and CEO, remarks: “iDEAL is really popular in the Netherlands, but being from the UK, I’d never even heard of it.” Since I was aware that putting payment gateways into place may be a complete nightmare, I looked into it and came across Mollie. I was able to obtain a plugin from Mollie, and the process was quite simple.
