The main feature of marketplace payments is that they have three parties: the payer, the seller, and the marketplace. Here, the main pitfalls of this process are located since the money from the buyer does not go directly to the seller’s account but first goes to a special account of the trading platform. After that, they are distributed between the seller and the marketplace platform following the terms of the contract.
What problems can arise with marketplace payments?
- Additional fees and delays in payment to the seller. Moreover, in different countries, there are various regulatory requirements for payment systems, and therefore, there are delays in the payment of funds to the seller’s accounts.
- Refunds to the buyer in those situations where the buyer disputes the purchase. This is a typical situation for an online business, but at the same time, this scheme is often used by fraudsters, so you should be careful not to lose funds.
- The seller is responsible for integrating a payment gateway for marketplace. The seller should choose those that work well in the countries important to the business.
Considering these factors, organizing the acceptance of marketplace payments can seem complicated. However, the Fondy service works precisely so that you can overcome all the above difficulties with a few clicks. In fact, everything is very simple when you use qualified help and professional services for receiving and processing international payments. So, the service takes over all potential problems with marketplace payments. All you have to do is focus on the quality of the products and communicate with customers so that they remain satisfied and return to you repeatedly.
Why is it so significant for business owners to know about the technical nuances of marketplace payments?
Even those online businesses that have their sites and sell their products in this way also have pages on marketplaces, which allows you to increase your reach and get a more interested audience. It is unsurprising to meet their profiles on Amazon or eBay. As for these sites, marketplace payments are organized at the highest level, and sellers do not need to make extra efforts to receive payment for goods conveniently. But not all marketplaces work according to a similar scheme. Many offer sellers to independently choose which payment methods they will use.
A few secrets on organizing the acceptance of payments on the marketplace
You will find the main tips, secrets, and subtleties of this process on the official website of Fondy. However, you can familiarize yourself with the main steps of organizing marketplace payments right now.
Firstly, you need to choose a payment gateway. Check out the offers of the international payment gateway Fondy to save time, effort, and money on the integration of marketplace payments.
Using a gateway will also help you organize safe and secure marketplace payments. The gateway protects not only transactions but also users’ personal information.
Developing a system of payments and commissions that meets the policy of marketplace payments and user requirements is also a critical stage. Careful planning and infrastructure development of these marketplace payments will ensure your business’s success and users’ satisfaction.
