“Can an EU-headquartered Merchant of Record win European SaaS by owning tax compliance and routing payments through Mollie instead of US rails?”
Vatly is a Netherlands-based Merchant of Record (MoR) built specifically for European SaaS and digital-product sellers. It positions itself as a European-jurisdiction alternative to Paddle, Lemon Squeezy, Polar, Gumroad and Stripe Managed Payments, with payments powered by Mollie and EU-only data processing. At the time of analysis the product is in waitlist stage with a REST API, SDKs, and planned hosted checkout.
Vatly's cards are issued through imprint on the Mastercard network.
The Embedded Finance Index 2026 maps 4 layers in Vatly's stack: Payments / PSP (Mollie, checkout and Stripe); Card issuing (imprint); Card network (Mastercard); Tax (Vatly (self-operated Merchant of Record tax engine)).
Vatly is headquartered in Rijen, The Netherlands.
Get a read on where your own stack stands against Vatly and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.