The business model of Mollie
- Business Model Innovation
Let’s have a look at the business model of Mollie, a Dutch start-up pioneering the payment industry with their payment API that is easy to integrate into any site or app. Mollie is the fastest growing payment service provider (PSP) in Europe. The company was founded with the believe that payment products needed to be easier, cheaper, and more flexible. Mollie’s mission is to become the most loved PSP in Europe, and they are doing that by continuing making complex financial services easy. Recently, it achieved a special milestone. It raised €90m in their second funding round. The valuation of this round was over $1 billion, which provides Mollie with the Unicorn status. What makes their business model so special?
What makes Mollie special
- Mollie is currently working with 100.000 small medium enterprises. Examples of these are TOMS, UNICEF, Deliveroo, Dyson, Ahold, Acer & Guess. Mollie is referring to their customers as partners, since Mollie want to provide them with payment solutions that enables them to grow.
- Mollie sets itself apart from other payment processors by focussing on very localised payment offerings. These days, consumers want to pay in their preferred method, and it is Mollie’s job to make that happen. Therefore, Mollie offers over 100 different local and international payment methods, so that consumers can pay in the way they want.
- Mollie’s API is very quick and simple to integrate. Within 15 minutes, you can have your account set-up and start receiving payments. Mollie takes out all the difficulties and makes it a process easy to understand.
- One of the biggest conversion killers in e-commerce is sending the consumer to a different URL when paying. Therefore, Mollie created a solution that is much more convenient for you and me. It provides consumers with a seamless check out process, which results in an increase of 7% conversion on average.
- Merchants that uses Mollie to process payments only have to pay per successful transaction. If payments are cancelled, Mollie doesn’t take a percentage of the fee.
- Mollie is very easy to use with other integrations. Merchants can save time and money by integrating Mollie into their website or app with the free to use plugins. Also, Mollie is supported by other plugins like WooCommerce, Moneybird, and eCurring.
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