Payments Fintech Mollie Transitions from EU to UK Payment Institution License

Mollie, one of the fastest growing payment service providers in Europe, announced it has been granted a Payment Institution license in the UK by the Financial Conduct Authority (FCA).

Mollie originally launched in the UK in early 2021, “serving merchants both domestically and those expanding internationally.”

Now, with the FCA license granted, Mollie UK says it “has bold growth plans; merchant expansion and most importantly, 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.”

Mollie 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-licensed financial services group across multiple markets and geographies.”

At the time of its UK launch, Mollie’s research amongst ecommerce 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, Mollie has become an attractive service provider for UK merchants, especially those expanding internationally.”

Mollie integrates to almost all ecommerce platforms, “provides access to hundreds of local payment methods, integrates with all the top technology partners like Klaviyo and maintains a strong, trusted product offering.”

Koen Köppen, CEO, Mollie, said:

“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.”

As covered, Mollie, which claims to be one of the “fastest-growing” financial services providers in Europe, announces a new integration and joint marketing effort with Klaviyo, a marketing automation and customer data platform that “drives revenue growth for businesses of all sizes.”

Through the new integration, merchants of the two firms can now “use their information collected from payment transactions within Klaviyo’s platform to personalise customer communications and marketing email flows to grow revenues.”

In addition, Klaviyo and Mollie will collaborate “with their joint agency partners to empower merchants to leverage this payment information to create more tailored marketing automation strategies.”

Klaviyo is an intelligent marketing automation platform “that makes it easy for marketers to centralize and use every piece of their customer data to deliver hyper-personalized experiences across all their channels, increasing conversions and revenue.”

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