PayPal rolls out payments solution for marketplaces, platforms and crowdfunding sites

Wednesday 25 October 2017 00:09 CET | News

PayPal has launched PayPal for Marketplaces, a new product designed for customers operating large online marketplaces.

The solution is tailored to the business’s needs, based on how much risk they want to manage with regards to their transactions. Businesses can decide if they want to handle the payment disputes and chargebacks themselves, or if they want to turn over that responsibility to PayPal to manage instead.

Moreover, the new service allows the businesses to customise the implementation to fit their needs. For instance, marketplaces could use the service to add commissions, marketplace holds, fees, partner payouts, and multi-seller disbursements, and can set payout timing. A later version is planned to introduce support for ACH settlements.

Businesses that will implement the solution will be able to support buyers in over 200 markets and sellers in over 120 markets.

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Keywords: PayPal, payments, marketplace, crowdfunding, ACH, chargeback, supply chain finance
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: World
This article is part of category

Banking & Fintech