The Dutch fintech payment services provider, Mollie, has announced it will expand into the UK market. The expansion means Mollie has enhanced its services available to UK companies. These companies can incorporate a variety of EU payment methods into their e-commerce websites. In addition, the services give UK merchants the ability to tap into new markets. Furthermore, EU customers have the choice to use their preferred payment methods, even when shopping with a UK retailer.
Mollie provides a range of different payment methods and API that support companies. The enterprise services 110,000 customers, has a 300-strong workforce and offices in five locations across Europe. In September 2020, TVC also invested £78.5m in Mollie, because of the company's plans to accelerate its international expansion.
The UK expansion has been driven by the company's goal to support British merchants with their EU payments in the wake of Brexit, using cutting-edge European payment products. Moreover, the Dutch fintech company has modified its UK-available services to companies who can now integrate several EU payment methods into their e-commerce portals.
Mollie's enhanced services provide UK business customers with the opportunity to access new markets. In addition, it can give EU customers the chance to use their preferred payment methods, even while buying from a UK retailer. Moreover, the fintech's UK operations will be led by Mollie's new Head of the UK appointee, Josh Guthrie. Guthrie is responsible for managing the company's efforts to assist SME enterprises through the post-Brexit international expansion.
"Expansion to the UK is an exciting opportunity for Mollie: it is Europe's largest e-commerce market, one of the most innovative, and while it hasn't been a focus we've already organically acquired a base of brilliant UK customers – including Gymshark, Facetheory, Joseph Joseph and Baker Ross," says Guthrie.
Providing good service and appealing to local businesses was part of the company's plans. "Mollie aims to become the most loved payments provider in Europe. We do this by taking a local approach to the market, providing superior integrations and technology, and offering top-quality support to merchants irrespective of size. Albeit crowded, there is still a lack of this level of excellence for UK merchants."
"This has fueled our rapid growth in Europe, where we've become a favorite amongst SME and mid-sized businesses. Like other competitive markets that we operate in, this approach stands us in good stead in the UK," he continued.
UK merchants can trade competitively in the eurozone through Mollie’s partnerships with Klarna, Magento and EU gateways. These strategic partnerships and integrations with established payments companies mean that brands have quickly been able to drive cross-border sales.
"Brexit is accelerating the opportunity – which is why we have taken steps to make our current product, which our existing UK customers use to offer the local payment methods needed to succeed across Europe, more readily available to UK merchants."
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