Key Data

• Trading Name: Mandato
• Legal Entities: Mandato Financial Services GmbH, Mandato Global Ltd
  
• Activities: Payment processor
  
• Location: Switzerland, Cyprus
  
• Regulations: VQF member
  
• Key People: Franz Iten
  
• Latest news: Mandato
  
• Latest update: Aug 12, 2024

Background

Mandato Financial Services GmbH d/b/a Mandato is a Swiss-based financial services provider. The company specializes in non-cash and paperless payment transactions, including electronic transfers to third parties and the issuance of payment methods like credit cards and traveler’s cheques. The company is managed by the Swiss trustee Franz Iten, the shareholder is the Cyprus-based Mandato Global Ltd.

Financial Situation

We do not have any information about Mandato’s financial situation.

The Offering

Mandato offers various products for private individuals and organizations. These include eWallets, eVouchers, and crypto payments.

Mandato provides a payment gateway for merchants. Mandato is primarily active in the high-risk segment.

Compliance Check

Mandato is a member of the Swiss Self-Regulatory Association VQF. This is not an official regulation, but a kind of private-law monitoring of compliance with money laundering regulations and other financial laws. In this respect, Mandato is a non-regulated financial services provider.

Franz Iten manages the company, obviously acting as trustee. Iten’s main occupation is managing director of Abona Treuhand AG in Switzerland.

Mandato Global Ltd, which has been registered in Cyprus since 2022, is listed as a shareholder. We have not found any information about the beneficial owners there either.

The LinkedIn account specified on the website does not exist.

Customer Feedback

We did not find any meaningful ratings on Trustpilot or other review sites, which is interesting considering the company has been in existence since 2006 (founded as Repele Business Development GmbH) and has been managed by Swiss trustee Franz Iten since 2019.

Rating Conclusion

Mandato is an unregulated financial services provider in a high-risk merchant environment. We found no information about the beneficial owners and no customer reviews. Moreover, we found no social media channels. Therefore, we have placed Mandato on our Orange Compliance and Orange Risk lists.