What does MangoPay refer to? 

MangoPay is a payment solution and platform that facilitates online transactions, particularly in crowdfunding, marketplace, and sharing economy platforms. It provides tools for businesses to manage transactions, handle payments, and ensure compliance with financial regulations.

MangoPay is often used by businesses and startups that operate as intermediaries between buyers and sellers or facilitate transactions between multiple parties. This includes crowdfunding platforms, peer-to-peer lending sites, marketplaces for goods and services, and more. The platform offers features such as secure payment processing, escrow services, virtual wallets, and tools to handle complex payment flows.

MangoPay also emphasizes compliance with regulatory requirements, including anti-money laundering (AML) and know your customer (KYC) regulations. This makes it suitable for businesses that need to meet financial industry standards while processing payments on behalf of their users.

Indeed, here are the top 5 benefits of using MangoPay for crowdfunding platforms:

1. Secure Payment Processing: MangoPay provides a fast and reliable payment processing system, ensuring that transactions between backers and project creators are conducted smoothly and with a reduced risk of fraud or unauthorized access.
2. Escrow Services: MangoPay offers escrow services, which means that funds pledged by backers are held in a secure account until certain conditions are met. This helps build trust between project creators and backers by ensuring that funds are only released when milestones are achieved.
3. Multi-Currency Support: Crowdfunding campaigns often attract backers from around the world. MangoPay’s multi-currency support allows campaigns to accept contributions in various currencies, making it more convenient for international backers to participate.
4. Customizable Payment Flows: MangoPay provides flexibility in designing payment flows. Crowdfunding platforms can set up customized payment structures, such as recurring payments, flexible funding models, and stretch goals, which are crucial for different crowdfunding campaigns.
5. Regulatory Compliance: MangoPay assists crowdfunding platforms in adhering to regulatory requirements, including anti-money laundering (AML) and know-your-customer (KYC) regulations. This ensures that backers and project creators are verified and helps prevent potential legal issues.

Comprehensive Walkthrough: Integrating MangoPay into White Label Crowdfunding Solutions, Step by Step

Important Keys,

1. Sandbox MangoPay Public Key
2. Sandbox MangoPay Secret Key
3. Live MangoPay Public Key
4. Live MangoPay Secret Key

The integration is for the specific system, admin is going to handle the sandbox operation as well,

1. Incoming transactions
2. Refund & user wallet track-down
3. Project-specific transactions entries (Inside the admin area)

Admin > API management > payment Gateway – Mangopay (Status: Active)

– Mangopay is a standalone gateway enabled in the system. It does not support parallel gateways.

– It does not contain any fees from the wallet users. For instance, if the admin wants to generate revenue from the system users. Here is an example, How our crowdfunding solutions can be configured with MangoPay 

Admin > Setting > Revenue Fees.

• This module contains the fees section where the admin can change the percentage amount from the project investments, distributions, and/or want to charge on wallet top-up.
• The Project type is by default flexible.
  • Because project investment stores to the creator’s mango pay wallet.

Admin > User management > Front-end user.

• The application helps to generate the mango pay for each new upcoming and already registered system user.

The module contains the per-user wallet IDs and all wallet transactions.

Admin > User management > Front-End user > Wallet details.

• Check the wallet information and transactions.
• Currency dropdown is there, it shows the wallet transaction (Invested/Received/Distributed).
  • As mentioned in other documentation, the Owner ID is the user’s mango pay ID.
  • And currency wise wallet ID is getting changed by the MANGOPAY

Mangopay Login & Sandbox

Login Window

• Admin logged in with the created mangopay credentials and checked move to the sandbox.

Account home page (move to select sandbox API key)

// Please note: This Instance is from the sandbox environment.

Sandbox (Select API key)

• Check through the client ID.

Sandbox home

• Account Balances > Collected Fees: Total admin revenue from the different currencies.
• Any compliance issue, payout issue, or payment dispute mentioned there. So, the admin can check and try to resolve it.
• Admin can withdraw the amount through the sandbox.

Users

• Collected Fees: Total admin revenue from the different currencies.
• Any compliance issue, payout issue, or payment dispute mentioned there. So, the admin can check and try to resolve it.
• Want to find a user just click on any of the listed emails and open the particular user’s and user wallet section.
  • To find the user click: Choose type, select “User”, and insert the email you want to find.

• Mangopay check whether the user is part of the system and if it is the user which using a wallet from a different application mentioned there.

Find an Investor to check transaction details

• As mentioned previously, the one customer ID is getting matched with the current system, and this contains all the transactions bead pay-in, pay-out, and withdrawal to have a look at activities and get track with the application.
  • Let’s check the Investor’s transactions.
  • For Instance: Search for [email protected]

For Instance: To check the wallet/transaction information Search Investor “[email protected]” to verify match transactions with the application.

Select the current system wallet (Identity with Owner ID)

• The Investor is already listed in the Investor Document with the Name and ID: “199324391”

On click lead to the Investor’s wallet dashboard.

Select the current system wallet (Identity with Owner ID)

• This user wallet dashboard contains all action operations taken by the Investor/project owner. The main page is called “Information”.
• Transactions, Wallets, Cards, Preauthorization, Deposit Preauthorization, Bank accounts, Mandate, KYC.
• As an investor invested plus top-up amount along with as a project owner catered investments and distribution addressed here.
• “User details” will help to check the user’s information if this user going to change it, it shows here and reflects. The current admin can update from here as well “Update details”.

“E-Money” – Total Credited and debited amount in wallet

Update User Details

• Update user details.

Check created transactions.

• By clicking on the “Transaction” menu or “Recent Transection” > “See all transactions” window.
• This page is authorized to show only created transactions from the Investor, as in wallet top-up, spend amount from a wallet, and failed top-up of all currency wallets.
• Upcoming repayment will reflect inside wallets.

• Investor top-up wallet with the amount of 2250 EUR, that is stored in the particular wallet ID.
• From the same wallet, the investor made the investment in the amount of 2000 EUR, the amount is matched with the system.
• One more transaction is there with a failed top-up in the amount of 2500 EUR.

User Wallets.

• The wallet contains all the currencies in multiple different wallets, in the sense that Mangopay is not going to convert any currencies, it works and accepts only single currency payment at a time
  • For Instance: One project was created to raise funds in Euro, MANGOPAY lets investors top-up the Euro wallet and only the Euro wallet is able to make the investment in this project.
  • If the same time you have enough amount available in another currency, it is not going to be accepted in that project.

• Admin wants to create a new wallet “New Wallet” facility is there.
• If want to edit the wallet details, this is possible with “wallet details”.
• All recent transactions with multiple wallets are listed under “Recent Transaction”.

Check separate transactions (Wallet top-up).

• As mentioned in the previous detail, the One main Customer ID contains multiple wallets with different currencies.
• Can download the receipt of the wallet top-up. (Receipt Image mentioned below)
• Admin wants to refund the total amount this is also getting reflected.
• Customer ID is already mentioned there.
• This is the investor’s Euro wallet ID; the amount is getting reflected in this wallet only.
• Admin did not want to charge on wallet top-up as mentioned in the “incl. credited fees” section.

Wallet Top-up Receipt

• The receipt contains the info along with the Card type and country paid by.

Check investment transactions (Investment through wallet).

• Investor made 2000 Euro investment to the project “My debt DOCUMENT”.
• The debited wallet deducted the amount and transferred it to the project creator’s wallet directly.
• This is the credited wallet = project creator’s Euro wallet.
• Admin contains the investment fees which are mentioned under “incl. credited fees”

Check distribution from the Project owner (Repayment).

• Investor getting first distribution from the project creator’s end.
• The amount is directly reflected from the campaign creator’s wallet to the Investor’s wallet.
• Distribution (Repayment) charges are deducted and added to the admin’s wallet.

User Cards.

• If this user has any of the debit/credit cards saved, the same information is going to be stored over here.

Preauthorization.

• The PreAuthorization Object ensures the solvency of a registered card for 7 days. The overall process is as follows:
  • Register a card (CardRegistration).
  • Create a PreAuthorization with the CardID. This allows you to charge an amount on a card.
  • Charge the card through the PreAuthorized PayIn object (Payins/preauthorized/direct).

Deposit Preauthorization.

• The Deposit Preauthorization object ensures the solvency of a registered card for 30 days. The overall process is as follows:
  • Register a card (CardRegistration)
  • Create a Deposit Preauthorization with the card ID. This allows you to charge an amount on a card.
  • Charge the card using the PreAuthorized Deposit Payin (/payins/deposit-preauthorized/direct/full-capture).

Bank Accounts.

• Investor/Project creators want to transfer the wallet balance amount to the bank account they have to add the bank account details, it will accept one or more bank account details at once.

KYC.

To withdraw the wallet amount to a specific bank account, Mangopay requires KYC documents along with an approved KYC holder only able to transfer the amount from the wallet to the bank account.

Mangopay Sandbox Flowchart

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