Mollie, recognized as one of Europe’s rapidly expanding payment service providers, has announced a significant regulatory milestone: the acquisition of a Payment Institution licence from the UK’s Financial Conduct Authority (FCA).
Since its UK inception in early 2021, Mollie has catered to domestic merchants and those venturing into international markets. The FCA licence marks a new chapter for Mollie UK, underpinning ambitious growth strategies, merchant expansion, and notably, the introduction of innovative products.
In 2024, Mollie UK is poised to replicate its continental success by launching fully integrated business financing services and a broader suite of payment solutions.
Transitioning from the Temporary Permissions Regime, a post-Brexit measure for EU-based financial entities, Mollie UK’s newly minted licence affirms its operational proficiency as a dual-licensed financial services group with a multi-market presence.
Mollie’s research at the time of its UK launch highlighted a compelling trend: 90% of UK ecommerce retailers prioritize international expansion. Mollie’s international, plug-and-play payment system, backed by local support, positions it as a preferred partner for UK merchants, especially those looking to scale globally. The company’s integration with a multitude of ecommerce platforms, access to numerous local payment methods, and partnerships with leading technology providers like Klaviyo, fortify its robust and reliable product suite.
An example of Mollie’s impact is the expansion of Lounge Underwear into the EU. Reflecting on the move to the Netherlands, Daniel Marsden, the brand’s Founder and CEO, shared, “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 of Mollie, expressed the significance of the FCA licence: “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. 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.”
Mollie’s strategic move not only underscores its commitment to the UK market but also signals a broader vision for the future of payment services, where convenience, integration, and merchant empowerment remain paramount.
