Mangopay launches Echo for multi-PSP payment flows

Mangopay has launched Echo, a product designed to help platforms manage payment flows across multiple payment service providers.

Echo lets businesses keep their existing providers for payment acceptance while moving settlement, reconciliation, wallet allocation, splits and payouts into a single system.

The launch targets a problem faced by platforms expanding across markets and adding more payment providers to support local payment methods and improve acceptance rates. As transaction volumes grow, settlement data and reporting can become scattered across separate systems, creating extra operational work after the initial payment has been processed.

Echo is acquirer-agnostic, meaning platforms can continue using their current payment service providers for pay-ins while using Mangopay to manage money movement after the payment stage. This creates a single record of where funds are held, who they belong to and when they can be released to the right user account.

Post-payment focus

The product reflects a wider shift in platform payments towards separating payment acceptance from the functions that follow it. Under this model, providers continue to handle the customer-facing transaction, while another layer manages settlement, internal fund allocation and payouts to users or partners.

This structure is aimed at platforms with multi-party payment flows, where money often needs to be split between different participants rather than simply transferred from a buyer to a merchant. That includes online marketplaces and other platforms managing payments between users, sellers and service partners.

Andy Wiggan, Chief Product Officer at Mangopay, outlined the operational burden of adding providers.

"Scaling platforms operate in a large and competitive landscape, with more providers to choose from as per their payments needs. Yet they pay for being spoiled for choice with operational costs and inefficiency. Each new payment provider means another reconciliation process, or another data structure that platforms need to adapt to. We built Echo to break that pattern and give platforms a flexible way to reduce operational costs from managing payment flows through multiple providers, while preserving their freedom to choose the providers that best support their business strategy," he said.

Operational strain

Mangopay cited research showing that manual processes remain common in payment operations for large platforms. According to the company, 86% of enterprise platforms still rely on manual reconciliation, while 30% said better visibility over money flows would have the biggest impact on their payment operations.

Those figures point to a broader challenge for businesses using several providers across different countries. A multi-PSP setup can help platforms tailor payment acceptance to local markets, but it can also leave finance and operations teams working across different data formats, settlement timetables and reporting structures.

Echo is designed to sit after the pay-in stage and bring those fragmented processes together. In practice, that means platforms can leave the front-end acceptance relationship unchanged while centralising what happens to the money once it enters the system.

Platform economy

Founded in 2013, Mangopay focuses on payment infrastructure for platforms with complex money flows. It has processed more than €160 billion, created 700 million wallets and onboarded 350 million users.

Its clients include Vinted, Wallapop, Storefund and Debenhams. The group's proposition has centred on wallet-based infrastructure that lets platforms hold, split and move funds between different parties, alongside services such as virtual IBANs, foreign exchange and cross-border payouts.

With Echo, Mangopay is extending that position into a more modular payments model, in which platforms do not need to choose a single provider for every stage of the transaction chain. Instead, they can retain separate providers for acceptance while consolidating the rest of the payment flow under one infrastructure layer.

For platforms, the commercial appeal of that approach likely depends on whether it reduces manual work and gives finance teams a clearer view of funds in transit. For payment providers, it highlights how platforms are reassessing the all-in-one model as their operations become more complex.

Payment providers keep their role in payment acceptance, while platforms retain control over how money moves between users, partners, and their own business.