Lemon Way vs MANGOPAY: What are the differences?

Introduction

Here, we will provide the key differences between Lemon Way and MANGOPAY to help you understand their distinctions.

1. Regulatory & Licensing Differences: Lemon Way operates as an Authorized Payment Institution under the supervision of the French Prudential Supervision and Resolution Authority (ACPR), whereas MANGOPAY acts as an E-Money Institution regulated by the Luxembourg Financial Sector Supervisory Commission (CSSF). These differing regulatory bodies result in varying levels of oversight and compliance requirements for each platform.

2. Geographical Reach: Lemon Way predominantly serves clients within the European Economic Area (EEA) and Switzerland, covering a range of payment services across these regions. In contrast, MANGOPAY caters to clients not only in Europe but also globally, including markets outside the EEA. Thus, MANGOPAY offers a wider geographical reach for businesses seeking international payment solutions.

3. Supported Currencies: While both Lemon Way and MANGOPAY facilitate multi-currency transactions, there may be variations in the currencies they support. Lemon Way enables transactions in a broad scope of currencies, including Euro (EUR), Pound Sterling (GBP), Swiss Franc (CHF), and more, tailored to the EEA and Swiss markets. On the other hand, MANGOPAY provides support for an extensive list of currencies, encompassing major global currencies such as USD, GBP, EUR, JPY, AUD, and many others.

4. API Capabilities: Lemon Way and MANGOPAY offer distinct features and functionalities within their respective API systems. Lemon Way's API encompasses numerous payment and money management functions, including account creation, fund transfers, and transaction monitoring. Meanwhile, MANGOPAY boasts a comprehensive API kit with enhanced customization options, enabling businesses to build diverse payment flow scenarios, split transactions, and automate complex payment processes.

5. Fees and Pricing Structure: Lemon Way and MANGOPAY may differ in their fee structures and pricing models. Lemon Way typically charges a combination of fixed fees and variable fees based on transaction volume, tailored to the EEA market. On the other hand, MANGOPAY employs a customized pricing approach, allowing businesses to negotiate fees based on their specific requirements and expected transaction volumes.

6. Customer Support and Languages: Lemon Way and MANGOPAY may have distinct customer support offerings and language support. Lemon Way provides support services primarily in French and English, focusing on assistance through various channels such as email and phone. Conversely, MANGOPAY offers multilingual customer support, including assistance in English, French, German, Spanish, Italian, and Dutch, catering to a broader range of customers worldwide.

In summary, Lemon Way and MANGOPAY differ in regulatory oversight, geographical coverage, supported currencies, API capabilities, fee structures, and customer support options, making them suitable for businesses with diverse international payment needs.