Mangopay expands local payouts to five more currencies

Mangopay has expanded its local payout service to five more currencies, extending coverage across parts of Asia-Pacific, Latin America, Europe, the Middle East and Africa.

The new currencies are the Australian dollar, Hong Kong dollar, Singapore dollar, Mexican peso and Turkish lira. Platforms using Mangopay's system can now send money to sellers, service providers and other beneficiaries through domestic payment rails in those markets.

This means businesses can pay out funds in the same currency in which they are held, rather than converting them before transfer. That can help platforms avoid foreign exchange costs and reduce reliance on international transfers.

The expansion reflects a common operational challenge for online platforms serving users in multiple countries. Running payouts across different markets often requires separate banking relationships, local integrations and additional compliance processes.

For companies handling large volumes of marketplace or platform payments, local payout options can also affect settlement speed and the experience offered to sellers and contractors. Domestic rails are often used to reduce friction compared with cross-border transfers, particularly where recipients expect funds in local currency.

Over the past 12 months, Mangopay has processed more than 15,000 payouts worth about GBP £61 million across the five newly supported currencies. It said this points to existing demand for local payout services in those markets.

Mangopay also pointed to its own research on the compliance burden of international payouts, which found that 37% of enterprise platforms identified country-specific payout restrictions as a compliance challenge.

Andy Wiggan, Chief Product Officer at Mangopay, said the findings show the operational strain involved in scaling payment operations across borders.

"As businesses expand internationally, the need to navigate different currencies, banking systems and payout requirements can add complexity and cost. Our research found that 37% of enterprise platforms identified country-specific payout restrictions as a compliance challenge, highlighting the operational difficulties businesses face as they scale across markets.

By expanding our local payout capabilities across APAC, Latin America and EMEA, we're helping platforms simplify how they move funds internationally, reduce their reliance on cross-border transfers and deliver faster, more cost-effective experiences for sellers and service providers," said Andy Wiggan, Chief Product Officer at Mangopay.

Broader platform

The additional currencies sit alongside Mangopay's wider payment infrastructure for platforms. Its Virtual Accounts product now supports the collection of funds in 24 currencies, giving clients more options for receiving and distributing money across markets.

Mangopay focuses on payment and wallet infrastructure for platforms, including marketplaces and businesses that need to split, hold and disburse funds between multiple parties. In that segment, payout coverage is a core part of product breadth, as platforms often need to receive money in one jurisdiction and distribute it in another.

The latest expansion suggests continued focus on local market access rather than a one-size-fits-all cross-border model. For platform operators, the commercial appeal is straightforward: lower transfer friction, fewer conversions and a payment flow that more closely matches how local recipients expect to be paid.