Amsterdam-based Mollie, a payment service provider, announced on Thursday that it has been granted a Payment Institution licence in the UK by the Financial Conduct Authority (FCA).
Establishing its presence in the UK in early 2021, Mollie has been serving merchants both domestically and those expanding internationally.
With the FCA licence granted, Mollie UK plans to accelerate its growth plans — merchant expansion and new product launches.
Looking ahead to 2024, Mollie UK aims to replicate its success in other European markets by venturing into fully integrated business financing services and additional payment solutions.
“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,” says Koen Köppen, CEO, Mollie.
“As a company, this licence opens new avenues for growth and collaboration, as well as provides a strong foothold in the dynamic UK market. We’re excited to continue to shape the future of payments in the UK,” says Köppen.
Previously, the Dutch company was operating under the Temporary Permissions Regime for EU-based financial services firms, a regime launched following Brexit.
Mollie UK has been granted its UK license to operate as a dual-licensed financial services group across multiple markets and geographies.
The announcement comes four months after a new integration and joint marketing effort with US-based Klaviyo, a marketing automation and customer data platform.
Mollie: Financial services providers
Founded in 2004 by Adrian Mol, Mollie is a payments platform that offers an “easy-to-implement” process for integrating payments into a site or app.
The platform aims to simplify online payments for merchants by taking away the complexity of payment methods and offering a “simple yet powerful” API.
Currently, the Amsterdam-based firm processes payments for more than 200,000 clients with local payment methods such as Mastercard, VISA, Amex, PayPal, iDEAL, and more.
The Dutch fintech firm has an international team of more than 700 employees from offices across Europe, including Amsterdam, Lisbon, London, Munich, and Paris.