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Documentation Index

Fetch the complete documentation index at: https://docs.mangopay.com/llms.txt

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Mangopay is a payment service provider for its client platforms, one of which you use. The Mangopay Terms and Conditions for Payment Services Users (T&Cs) govern the services you use via that client platform. The platform has partnered with Mangopay to provide these payment services to you. You are required to accept Mangopay’s T&Cs to be able to use its payment services via the client platform. The client platform is required to obtain your approval of Mangopay’s T&Cs. Mangopay has made changes to its terms and conditions. The client platform is required to notify you of these changes, of which the main ones are detailed below. You can view Mangopay’s T&Cs for payment services on its website, both the latest version and older versions. The updated Mangopay T&Cs are effective two months from the date the client platform notified you of the update. By continuing to use Mangopay’s client platform after this two-month period, you acknowledge and agree to the updated Mangopay T&Cs. If you decide that you do not agree to the updated T&Cs, then it is necessary to close your Mangopay Account. This closure will mean you are no longer able to receive payments through the client platform. To proceed with the closure of your Mangopay Account, kindly withdraw all remaining funds to an external bank account via the client platform. You can also notify the platform of your desire to close your Mangopay Account.

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About Mangopay

Mangopay S.A. is an electronic money institution (EMI) under European law. Mangopay is authorized to provide payment services within the European Economic Area, as an EMI approved by the Luxembourg Commission de Surveillance du Secteur Financier (CSSF), and also within the United Kingdom. Mangopay is not a bank. Users of Mangopay’s client platforms do not have a bank account with Mangopay but a wallet (referred to as a Mangopay Account) specially dedicated to carrying out transactions via the platform. The funds in this wallet are therefore allocated to a particular client platform to enable transactions to be carried out.

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Overview of main changes

Mangopay has updated its terms and conditions to improve clarity and accessibility and provide a more detailed description of the services Mangopay provides. Some sections have changed, such as:

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Inactivity fees

Mangopay has settled inactivity fees for dormant Mangopay Accounts. Your Mangopay Account will be considered inactive if no transaction has been recorded in your Account for two (2) years (previously it was one year). If your Mangopay Account has a positive balance and becomes inactive, Mangopay will notify you accordingly. If you do not recover your funds, Mangopay will continue to administer your assets diligently, in return for which it reserves the right to deduct an administrative management fee of thirty (30) euros per year, limited to the positive balance available in your Mangopay Account.

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OFAC rules

Mangopay has added a section regarding the US Office of Foreign Assets Control (OFAC)’s rules. As an overseas subsidiary of a US entity, Mangopay is subject to the sanctions lists governed by OFAC. As a consequence, Mangopay is required to reject any person and/or to block any Mangopay Accounts that are subject to various economic sanctioned programs according to the OFAC.

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Currency exchange services

Mangopay has added provisions for the currency exchange services it now offers. Mangopay reserves the right to allow a payer to make a payment in a currency other than the currency of the beneficiary Account. In such a case, the payer will be offered a currency conversion service so they can pay in the currency of their country of residence and/or their payment method. This service can include exchange rates and fees that the payer is made aware of.

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Duration and termination

Mangopay has modified this section and reserves the right to:
  1. Suspend or terminate its T&Cs by simple notification without prior notice in all the cases provided for in Article 7 of the updated terms. For example, this can happen in case of refusal to provide the mandatory documents, fraudulent or unlawful use of Mangopay services, or suspicion of money laundering or terrorist financing, among other cases.
  2. Automatically terminate the T&Cs if your Mangopay Account is inactive or in the event that the agreement between you and the client platform ends (at your initiative or at the client platform’s initiative).
Rest reassured, the closure of your Mangopay Account can only take effect when its balance reaches zero, but it can be subject to inactivity fees as described above.
  1. Terminate the T&Cs if the contract Mangopay has entered into with the client platform for the integration of the Mangopay solution ends, subject to the notice period of 2 months. In this case, there are two options:
    1. If the balance of your Mangopay Account is zero, it will be automatically closed at the end of the notice period and the T&Cs will be deemed terminated.
    2. If the balance of your Mangopay Account is positive, you will need to recover the funds to an external bank account held by you so that your Mangopay Account can be closed. If you do not recover your funds, we will continue to administer your assets diligently but we may charge Inactivity fees, if applicable.

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Personal data protection

Mangopay has updated this section to strengthen your rights, to make it more understandable, and to reflect the changes made to its privacy statement.

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Professional secrecy

Mangopay is growing and so is its network of suppliers. Mangopay has lifted professional secrecy for the benefit of the service providers to which it subcontracts operational functions, like fraud prevention, anti-money laundering and countering the financing of terrorism, as well as the hosting and security of its technical infrastructure. Usually, these service providers are located within the European Union but sometimes they can be outside the EU, including but not limited to the United States, UK, and Canada. To ensure the proper performance of Mangopay services, your data can be shared with entities within the Mangopay group to which Mangopay S.A. belongs, when such entities are involved in the provision of Mangopay services.

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Withholding mechanism

Mangopay has added a withholding mechanism and the option of blocking a certain amount of money in your Mangopay Account (called a Reserve). The withholding mechanism enables Mangopay, under certain circumstances (such as fraud suspicions), to reserve the right to defer the time at which Mangopay will pay the funds into your external bank account. The Reserve is the right for Mangopay to keep a minimum amount of funds that you must hold in your Mangopay Account which is reserved by Mangopay and which is temporarily not available for payment to your external bank account. Mangopay may apply a Reserve on your Mangopay account if it has reason to believe, on legitimate grounds, that there is a risk with respect to the transactions Mangopay is processing.