Payaut launches an automated payment solution for online marketplaces

Tuesday 7 July 2020 11:54 CET | News

Netherlands-based fintech Payaut has launched an automated payment solution for online platforms and marketplaces. 

According to the press release, Payaut’s payment solution ensures that money flowing through online marketplaces will end up at the right seller, whether it’s a private individual or a business. The platform acts as a link between the PSP and the sellers and prevents online marketplaces from being locked in with one single PSP. Instead, marketplaces will be able to combine multiple payment services, such as Adyen, Stripe or Mollie. 

Besides, the SplitPayment feature verifies sellers on each platform automatically to comply with all the necessary ‘Know Your Customer’ regulations in the PSD2. Furthermore, Payaut excludes online marketplaces from the payment flow and releases these platforms from the obligation to become an official Payment Institute to comply with PSD2.

Overall, Payaut previously closed a pre-seed funding round of EUR 1 million with UK-based VC company LocalGlobe. Finch Capital also participated in the round, as well as several professionals from the finance and payments industry. The fintech startup from is currently in talks with investors and expects to close a large seed round within a couple of months. 

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Keywords: Payaut, launch, automated payment solution, online marketplaces, PSP, Adyen, Stripe, Mollie, Know Your Customer, KYC, PSD2, funding round, LocalGlobe, Finch Capital, fintech
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce