Mollie Officially Launches in Portugal to Support Ecommerce Growth
Hey Payments Fanatic!
Over the past few years, Lisbon has steadily built a reputation as a growing FinTech corridor. Now, another player is joining the scene. Mollie, the payment platform serving more than 250,000 businesses across Europe, is expanding its presence in Portugal.
With its official launch in the country, Mollie brings a full-stack payments solution tailored to local needs, including MB WAY and Multibanco, alongside more than 35 other payment methods.
This step builds on Mollie’s earlier investment in Lisbon, where it opened a tech hub in 2022. That office now employs 60 people, with plans to grow the team to 80 by the end of 2025. The company is now integrating its commercial and customer support teams into the same space, further embedding itself in the local market.
Mollie’s platform offers businesses, whether startups, SMEs, or larger enterprises, a centralized way to manage financial operations across both online and in-person channels. Reporting tools, real-time data, and fraud prevention features aim to make digital transactions more seamless and scalable.
“Entering the Portuguese market is a big step for Mollie, and we want to be part of this journey, as a partner that supports companies with simple and effective payment solutions,” said Koen Köppen, CEO of Mollie. “Expanding our Lisbon team to include commercial and support functions strengthens our ability to deliver a higher quality of service to our customers,” he added.
Read more global payment industry updates below 👇 and I'll be back with more tomorrow!
Cheers,
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GOLDEN NUGGET
𝐓𝐡𝐞 𝐈𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧 𝐭𝐨 𝐂𝐚𝐫𝐝𝐬 𝐢𝐧 𝐏𝐚𝐲𝐦𝐞𝐧𝐭𝐬 — Clearance, Settlement and Reconciliation in Card Payments by Travel & Payments 👇 Created by Arthur Bedel
What is 𝐂𝐥𝐞𝐚𝐫𝐚𝐧𝐜𝐞 in 𝐂𝐚𝐫𝐝 𝐏𝐚𝐲𝐦𝐞𝐧𝐭𝐬?
Clearance refers to the exchange of financial transaction information between a merchant, acquiring bank, card network, and issuing bank. It ensures that each authorized transaction is captured, validated, and prepared for the final movement of funds.
It is the data validation layer between authorization and settlement, typically executed via structured batch files or APIs.
How the 𝐂𝐥𝐞𝐚𝐫𝐚𝐧𝐜𝐞 Process Works:
1️⃣ From merchant (via a PSP - Worldpay, Checkout.com, CellPoint Digital), compiles all card authorizations for the day.
2️⃣ These are transmitted to the acquirer (either same as Gateway or a different PSP, Adyen, Stripe etc.), which aggregates data from multiple merchants.
3️⃣ The acquirer forwards clearance files to the respective card networks (Visa, Mastercard, GIE Cartes Bancaires).
4️⃣ Card networks then send structured clearance files to the relevant issuing banks (Citi, Nubank, Revolut, Chase) for verification.
5️⃣ Once validated, transactions are marked as cleared and queued for fund settlement.
✔️ Clearance typically operates on a T+1 or T+2 schedule (transaction date plus one or two business days).
What is 𝐒𝐞𝐭𝐭𝐥𝐞𝐦𝐞𝐧𝐭?
Settlement is the actual movement of funds from the issuing bank to the acquiring bank and ultimately to the merchant. It ensures that merchants receive payment for cleared transactions and issuers collect funds from cardholders.
What is 𝐑𝐞𝐜𝐨𝐧𝐜𝐢𝐥𝐢𝐚𝐭𝐢𝐨𝐧?
Reconciliation is the post-settlement validation process, where merchants and acquirers ensure that transaction records align with actual funds received. It involves matching authorization logs, clearance files, and settlement amounts.
This step is essential for accuracy, compliance, and resolving disputes or chargebacks.
𝐇𝐨𝐰 𝐒𝐞𝐭𝐭𝐥𝐞𝐦𝐞𝐧𝐭 & 𝐑𝐞𝐜𝐨𝐧𝐜𝐢𝐥𝐢𝐚𝐭𝐢𝐨𝐧 𝐰𝐨𝐫𝐤
1️⃣ Once cleared, issuing banks (Citi, NU, Revolut) send funds to the card networks’ settlement bank, facilitated by processors like Fiserv.
2️⃣ The card network (e.g., Visa, Mastercard) transfers the funds to the acquiring bank (e.g., Stripe, Worldpay, Adyen).
3️⃣ The acquirer then deposits the net funds into the merchant’s account and issues detailed reconciliation statements.
4️⃣ Settlement moves the money. Reconciliation ensures accuracy, completeness, and transparency.
Clearance, settlement, and reconciliation form the operational foundation of card payments. While authorization may happen in milliseconds, these back-end flows ensure the payment is valid, the money is transferred, and records are aligned — creating trust.
Source: Travel & Payments & Vishal Mehta
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