Payment service provider Mollie has been granted a Payment Institution licence in the UK by the country’s financial regulator, the Financial Conduct Authority (FCA).
Mollie states it has “bold growth plans” following the licence clearance pointing towards merchant expansion and in particular, new product launches in the UK.
The payment provider had originally launched in the UK in early 2021 by serving merchants both domestically and internationally and will now look to further expand its range of products, integrating 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 empower merchants with best in class products,” said Koen Köppen, CEO of 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.”
Mollie was previously operating under the Temporary Permissions Regime for EU-based financial services firms, a regime launched following Brexit.
Now, under the new UK licence, Mollie can now operate as a dual-licensed financial services group across multiple markets.
The FCA has been active in handing out payment licences to firms as of recent. The financial regulator granted Mangopay an electronic money institution (EMI) licence this week as the FCA continues to set out plans to invite more payment services to its diverse payment market.