Mage is upgrading payments – here’s what’s changing

We’ve decided to switch payment providers and are moving from MangoPay to Stripe.

Why?

After careful consideration, we believe Stripe offers the best payment experience available — with better support, more secure and more reliable.

What’s next? Here’s what you need to know:

1) Phasing out MangoPay

You’ll have until May 30th 2025 to withdraw any funds in your current MangoPay Mage wallet. You might have to complete your ID verification and any compliance checks for that. After this deadline, we won’t be able to assist with MangoPay-related issues and you’d need to contact them directly to access your funds.

Orders already in progress will continue as normal and need to be completed & cashed-out within this timeframe.

2) Stripe is now live

All new orders are now processed using Stripe 🎉

If you’re a seller, you’ll need to complete a quick Stripe setup and ID verification. Just follow the steps in your Mage account — it should only take a few minutes.

3) Revised pricing and new features

Stripe is a better payment provider, but it comes at a slightly higher cost to us.

Our margins were already tight, so we have no choice but to slightly increase our fees.

• Buyers: For purchases, the price is being updated to 2.5%+25p (vs 1.7%+25p before). The same payment fee applies if you’re using funds that were already in your wallet after selling some cards (which before was free). We think this is still really great pricing, literally about half of what other marketplaces charge. The new price will be applicable from May 15th 2025*.

• Sellers: We’ve actually made it cheaper for sellers: we’ve removed the 50p charge on cash-outs (the charge still applies to cash-outs of your MangoPay balance). Now, when funds in balance reach £500, the system will automatically cash out into your bank account; or you can cash out manually, whenever.

 *We hope not to, but we may need to adjust pricing again as we learn more about working with Stripe.

Important for sellers: 

We currently don’t have any payment history with Stripe, which means payouts may be slower than what you’re used to. Here’s what you can generally expect.

• Order completion: Once your buyer receives an order, the payment for it may still remain pending, because Stripe holds the funds for 3-5 business days since the order was placed (due to their security checks). In practice, this means that the payment will often clear 1 or 2 days after the buyer received it, or even immediately.

• Cash out requests: when you make your first cash out request, it may take about 7 business days for the funds to reach your bank account. Future ones are likely to be faster.

As we continue building a payment history with Stripe, these times should speed up.

Now, let’s talk now about some cool new features:

• You can now pay with Google Pay and Apple Pay.

• You can also pay with Link by Stripe, which allows you to securely save your card details for faster checkout.

• Refunds now go directly back to your payment card: no more refunding into your Mage wallet.

• In the future, we might introduce “Buy Now, Pay Later” options.

We’re really excited about working with Stripe. It sets us up for faster growth, better features, and an even stronger Mage community.

Thank you so much for your continued support!

The Mage Team