Mangopay expands Virtual Accounts to support global payments

By Milan Rojan

Mangopay has expanded its Virtual Accounts offering, increasing supported currencies from seven to 24 to help platforms simplify cross-border collections and support international growth.

The enhancement has enabled enterprise platforms and marketplaces to collect business-to-business payments in a wider range of currencies while maintaining dedicated virtual accounts and wallet separation for each currency. The company said the architecture has improved reconciliation and provided greater visibility over incoming funds.

The expanded service has addressed a common challenge for platforms operating across multiple markets, where collecting payments in different currencies often requires separate banking relationships, settlement processes and reconciliation workflows. By broadening currency support, Mangopay has aimed to provide businesses with a more consistent way to manage collections as they expand globally.

Andy Wiggan, Chief Product Officer at Mangopay, said: “For fast-growing platforms or marketplaces expanding globally, collecting funds in new currencies can create significant operational complexity. Entering new markets often means managing additional banking arrangements, account details, settlement processes and reconciliation workflows, leading to fragmented operations across finance, product and operations teams.”

He added: “Mangopay’s Virtual Account currency expansion is designed to reduce that complexity. Platforms can collect funds in more currencies using a consistent Virtual Account setup, helping to improve visibility over funds movement and simplify reconciliation across markets.”

The expanded Virtual Accounts service now supports business-to-business collections in 24 currencies, including pound sterling (GBP), Swedish krona (SEK), Japanese yen (JPY), US dollar (USD) and Polish złoty (PLN).

Mangopay said the update forms part of its strategy to strengthen wallet infrastructure for platforms and marketplaces, enabling businesses to streamline payment operations, improve financial visibility and support cross-border expansion through a unified payments infrastructure.