At the start of each month, we transfer the total revenue from the previous month after deducting Mangopay’s commission. The transfer occurs between a dedicated fees wallet and your designated bank account. For more information, see the Fees and billing article.
Mangopay charges platforms commission which is deducted automatically at the start of the month during the billing process, separately from transactions occurring on your platform.
For more information, see the Fees and billing article. For details on Mangopay’s commissions, see the Pricing page.
Yes. Public or bank holidays in the countries where Mangopay has an office affect some aspects of payments processing and identity verification. Please see the Public holidays article for more details and the full list of upcoming dates.
Yes, if required by the regulations. As a payment service provider, Mangopay cannot offer you legal advice or be held responsible for the management of your VAT.
When might a marketplace need to collect VAT?
On 1 July 2021, new regulations known as the VAT e-commerce package came into force in the European Union. These measures mean that marketplaces facilitating the sale of goods between a seller and a non-taxable end customer (B2C models) are liable for VAT instead of the seller in certain cases. B2B and C2C marketplaces are excluded from these rules.
It may therefore be up to B2C marketplaces, instead of the seller, to collect and remit VAT on consumption of goods to the tax administration in the following situations:
Sales (domestic or intra-EU) where the seller is located outside the EU (rule applicable in all EU states)
Distance sales of imported goods < €150 (rule applicable in all EU states)
Distance sales of imported goods > €150 where the goods are delivered to a customer in France, regardless of whether the marketplace is established in France or abroad (special case for France - Article 293 A of the General Tax Code: only applicable to goods delivered in France)
The indications given above are provided for information purposes only. We invite you to refer to the comments published by the European Commission and to contact your legal advisor.
However, if you are affected by the above regulation, and only in this case, Mangopay can offer you the possibility to create an e-wallet dedicated to VAT collection.
Process
Firstly, in the Dashboard, create a Legal Business user and an e-wallet assigned to it. Complete the user details with your company details.
Then, send an email to our Compliance team at legal@mangopay.com with the following information:
Your client ID.
The ID of the user created in step 1.
Your position at the company. The request must come from the legal representative.
A brief description of your business activity.
A statement confirming that this e-wallet will only be used to collect VAT.
A statement confirming that you accept Mangopay’s terms and conditions.
Our Compliance team will review the request. To be able to validate the user, the KYC documentation of your platform needs to be up to date. Certain documents may therefore be required.
If your request is accepted, you will have to sign an amendment to your contract before the e-wallet can be activated.
Use of this e-wallet will be strictly monitored by our Compliance team. The user and the associated e-wallet will be blocked if they are used for other purposes that VAT collection.
