The announcement was made on 28 June 2017 during the Money 20/20 Europe event in Copenhagen. The solution covers all the payment functions a marketplace needs and gives them full control over operations and user experience, for both buyers and sellers.
The Marketplace Manager designed by SafeCharge operates on a fully outsourced API and meets all payment regulations, relieving marketplaces of KYC (Know Your Customer) requirements. Furthermore, the platform does not require marketplaces to become a ‘payments institute’ or have PCI (Payment Card Industry) compliance liability.
The onboarding process is also supported via an API and sellers only need to provide a minimum amount of information to get started. Members will also have access to customizable checkout pages with a localised payment experience, where customers can select their preferred local payment method.
Marketplaces are experiencing high levels of growth and according to a report by the Ecommerce Foundation, global marketplaces may own 40% of online retail in 2020. According to the company’s press release, the main challenge marketplaces face is the lack of a unified payment solutions that meets all their specific needs at once.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now