Mollie has been granted a payment Institution licence in the UK by the Financial Conduct Authority (FCA). It is a fast-growing payment service provider in Europe and was originally launched in the UK in early 2021. It serves merchants both domestically and those expanding internationally. Now, with the FCA licence granted, Mollie UK has growth plans for merchant expansion and new product launches.
Mollie UK intends to follow in its continental footsteps in 2024, with plans to offer fully integrated business financing services and additional payment solutions. The company was previously operating under the Temporary Permissions Regime for EU-based financial services firms, a regime launched following Brexit. Mollie UK has now been granted its UK licence which validates Mollie’s capabilities to operate as a dual-licenced financial services group across multiple markets and geographies.
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Mollie integrates with most e-commerce platforms
At the time of its UK launch, Mollie’s research amongst e-commerce retailers revealed that international expansion is a key strategic priority for 90% of UK merchants. As an international, out-of-the-box payment solution, with a local support team, it has become an attractive service provider for UK merchants, especially those expanding internationally. Mollie integrates with almost all e-commerce platforms, provides access to hundreds of local payment methods, integrates with all the top technology partners like Klaviyo and maintains a trusted product offering.
This is how businesses like Lounge Underwear supported its mainland EU expansion. Daniel Marsden, Founder and CEO of Lounge said of their expansion into the Netherlands: “iDEAL is really popular in the Netherlands. But, being from the UK, I’d never even heard of it. I know that implementing payment gateways can be an absolute nightmare, so I did some research and found Mollie. Through Mollie, I got a plugin and it was actually really easy.”
Koen Köppen, CEO, Mollie, commented: “Receiving our Payment Institution licence from the FCA is a huge milestone and one that speaks volumes about our dedication to empowering merchants with best-in-class products. As a company, this licence opens new avenues for growth and collaboration, as well as providing a strong foothold in the dynamic UK market. We’re excited to continue to shape the future of payments in the UK.”
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