Digital platforms are changing the way we think about commerce, highlighting the need for adaptable payment solutions.
This week, we’re talking with James Butland, VP of payment network and MD UK at Mangopay, about how the company’s modular payment infrastructure fits into today’s digital marketplaces.
Its e-wallet solution is designed to streamline payment processes, serving over 250 million end users and handling more than €100billion in transactions since 2013.
Butland, who has enjoyed more than a decade’s experience working in the financial and tech industry, discusses his recent achievements, Mangopay’s purpose and his background in fintech.
Tell us more about your company and its purpose
Mangopay was founded in 2013 with a clear mission: to become a key driver in the growth and success of the platform economy by unlocking new revenue streams for platforms.
Today, we’re trusted by leading platforms such as Vinted, ManoMano, Malt, Paybyrd and Chrono24, serving over 250 million users and processing more than €100billion in transactions since our inception.
Our flexible, e-wallet-based ecosystem enables the largest and fastest-growing platforms to monetise their transaction volumes. While our end-to-end solution allows platforms to manage multi-party payments, control money flows, and unlock new revenue streams.
With built-in currency exchange, handling international transactions is easy, as we enable platforms to have more control over when, how, and at what rates they can convert funds. Plus, our virtual IBAN solution offers local account benefits, fast payments, and automatic tracking for seamless financial management.
At the heart of our offering is the belief that a wallet-based ecosystem bridges the gap between a modern, unified customer experience and sustainable growth. Platforms can build engaged communities where users manage their finances securely in one place. Our wallet infrastructure allows platforms to create digital wallets for their customers to store, send, receive, convert, and split funds, while also opening the door to new revenue opportunities through wallet-facilitated transactions.
What are some of your recent achievements you’d like to highlight?
One of our most significant achievements has been the launch of our award-winning fraud prevention product, which offers in-depth user analysis and precise risk detection from sign-up to checkout. We’ve also expanded our virtual IBAN offering across Europe, adding Germany, Spain, the UK and Denmark, to offer more localised payment experiences for platform users.
However, our platforms’ success is truly our greatest achievement. To date, we’ve facilitated over €65billion in wallet-to-wallet transfers, generated over €5billion in fees from wallet transactions, and saved platforms over €250million annually through our re-spending functionality. Our engagement metrics are equally impressive, with €8.5billion in yearly re-spending volume processed.
How did you get into the fintech industry?
I began my career working in asset management. As fintech products gained traction in 2010, it became clear that the industry was heading in a new and exciting direction. I made the move into fintech, joining TransferWise (now Wise), and later played a role in helping to grow Airwallex. For me, the opportunities within fintech were simply too compelling to ignore.
What’s the best thing about working in the fintech industry?
The fintech industry is dynamic, fast-paced, and constantly evolving. I think there’s always something new to learn, which is one of the reasons why I enjoy working in it. Lately, this sector has become a key topic of global discussion, alongside issues like climate change, technology, and health.
This environment offers immense growth potential, both professionally and for businesses, as the demand for innovative financial solutions continues to rise. It’s incredibly rewarding to be part of an industry where you can make a tangible difference, driving real change and delivering solutions that meet evolving user needs.
What frustrates you most about the fintech industry?
One of the more challenging aspects of fintech is navigating the regulatory grey areas, particularly for non-bank financial services. It can sometimes be unclear what’s required to remain compliant, which can slow down innovation.
Another frustration is the frequent confusion between embedded finance and embedded payments. While they’re related, they’re not the same, and conflating the two can lead to misunderstandings about the services fintech companies provide.
How have your previous roles influenced your career?
My previous roles have taught me that every business, whether a corporate or a startup, face challenges. The key to success is addressing these challenges head-on and moving forward. No business is ever completely free of problems, but growth comes from solving issues before they escalate. This mindset has been invaluable in navigating the fast-paced fintech environment, where agility and problem-solving are crucial.
What’s the best mistake you’ve ever made?
One of the most important lessons I’ve learned is the value of hiring people who share the company’s goals and outlook, and who bring a positive, optimistic attitude. It’s easy to focus on past experience or impressive CVs, but the best teams are built on shared vision and enthusiasm. This realisation came from hiring mistakes early on. I learned that without a unified, forward-looking team, it’s difficult to build great products and achieve success.
What has the future got in store for your company?
Our current focus is on making it even easier for platforms to integrate into our wallet ecosystem. With our PSP-agnostic system, platforms can manage payment settlements and reconciliations through Mangopay’s infrastructure without needing to overhaul their existing tech stacks or payment providers. This flexibility allows platforms to continue using external PSPs while consolidating and reconciling funds through Mangopay, with transactions settled instantly to speed up processes and reduce costs.
Looking ahead, we plan to expand our support for local payment methods, introduce more currencies, and expand our wallet ecosystem with new features designed to improve user experience and platform capabilities.
What are the next key talking points or challenges for your industry as a whole?
Over the past decade, platforms have diversified their business models beyond e-commerce, branching into areas like travel, on-demand services, and fintech. This expansion has driven significant market growth and led to increased integration across industries — fintech with retail, delivery services with restaurants, and on-demand services with financial solutions. A seamless, embedded experience is now the new standard.
Looking ahead, I anticipate we’ll see a shift toward more interconnected ecosystems, where wallet-based infrastructure enables agile, scalable operations. As global platforms adopt multiple payment providers, independent wallet systems simplify fund management, support split payments, and streamline revenue-sharing by reducing reconciliation complexity.
Additionally, the growing demand for embedded finance solutions, particularly from non-fintech companies, highlights the need for accessible, user-friendly financial services. As companies look to integrate features like in-app wallets, BNPL options, and bespoke payment solutions, the market for white-label and banking-as-a-service (BaaS) offerings continues to expand. This presents exciting opportunities, but also challenges around regulation, scalability, and user adoption.
