This partnership will allow Checkout.com to leverage Shieldpay’s unique payment engine and digital escrow capabilities to address the payment challenges customers are facing around security, trust, and transparency in high-value transactions online.
Shieldpay’s digital escrow offering will allow Checkout.com customers to hold funds in safeguarded accounts (which are PSR, Art. 23 compliant) until both buyer and seller are satisfied that the conditions of the transaction have been met. Monies are then paid out of the account to verified merchants or marketplace customers. In addition to this, Shieldpay is also able to help marketplaces disburse funds to sub merchants where needed.
Checkout.com and Shieldpay have been collaborating since the beginning of 2022 to service online marketplace customers and emerging fintech companies to manage complex payments. Together, they provide the payment flow for KodyPay, a fast-growing in-person digital payment acceptance company. Checkout.com acts as the acquirer, provides a payment gateway facility to accept payments in, and Shieldpay supports with seller verification and disbursement. The collaboration of these payments companies enables fast, safe, and trustworthy transactions between merchants and customers.
Following the initial successes of their offering to clients, such as KodyPay, the payments companies have now formally partnered. Going forward, Checkout.com and Shieldpay will support the payments needs of high-value, B2B marketplaces and professional services industries with plans to expand across their customer bases.
Checkout.com’s officials explained that together with Shieldpay, They’re bringing merchants even more value and flexibility for their B2B transactions. Shieldpay's digital escrow technology is innovative and further enhances the payout process for their customers.
For more information about Checkout.com, please check out the company information in The Paypers Company Database.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now