FinTech firm Mollie announces transition from EU to UK Payment Institution licence
European payment service provider, Mollie, has been granted a Payment Institution licence in the UK by the Financial Conduct Authority (FCA).
The FinTech originally launched in the UK in early 2021, serving merchants both domestically and those expanding internationally. Now, with the FCA licence granted, it is planning 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.
It was previously operating under the Temporary Permissions Regime for EU-based financial services firms, a regime launched following Brexit.
As an international, out-of-the-box payment solution, with a local support team, Mollie integrates to almost all e-commerce platforms, provides access to hundreds of local payment methods, and integrates with top technology partners like Klaviyo.
This is how businesses like Lounge Underwear supported their mainland EU expansion.
Daniel Marsden, Founder and CEO at Lounge Underwear, says of the brand’s arrival in 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”.
"Receiving our Payment Institution licence from the FCA is a huge milestone, and one that speaks volumes about our dedication to empower merchants with best in class products,” says Koen Köppen, CEO, Mollie.
“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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