The modern consumer is so spoiled and surrounded by the attention of sellers to remain competitive in the market. They need to constantly develop new methods of selling their products. The usual online stores with limited assortment have been replaced by multi-brand marketplaces – platforms where customers can comfortably and safely shop online, and different sellers can place their offers. The marketplace takes on the function of accepting payments and organizing delivery. The leading position in the market is occupied by the marketplace that can offer suppliers and buyers the most convenient and safe payment tools.
Features of the Work of Marketplaces
The marketplace is a trading platform that can sell its products and third-party sellers’ offers. A fairly extensive range of goods can be offered within the framework of even one product group. Thanks to this, the buyer always has the opportunity to choose products from the same manufacturer but from different sellers. The marketplace is not an ordinary online store because its organization has certain features:
- the marketplace trades with many sellers who compete with each other for the attention of buyers. On marketplaces, can trade as beginners who do not even have their site and large companies with a well-known brand;
- to make purchases and sales, it is necessary to register and authorize on the site;
- sellers have a personal cabinet where they can monitor sales and keep track of the turnover of goods;
- marketplaces profit by setting subscription fees, commissions and percentages from the realized goods and services.
The marketplace is responsible for the variety of payment options available to buyers and the quality of payment services. If a marketplace seeks to lead, all settlements between suppliers, retailers and buyers must be smooth, fast and secure.
As suppliers worldwide interact on e-commerce platforms, one of the main problems that arise when making payments is the slow speed of funds transfer. Sometimes international transfers take hours or even days to arrive. It happens because of the outdated algorithm of transactions. Consequently, this slows down other business processes in the marketplace, complicates accounting and significantly reduces the level of service. A marketplace must use an innovative Payment Card Solution to be attractive to retailers. Wallester offers just such a product.
Wallester’s Offer for Marketplaces
There is a very high level of competition among existing marketplaces. Many traditionally strive to take the leading position by offering the lowest prices to customers. But this approach has its limits and is only acceptable to some retailers. To become competitive in the industry, you need to lower prices and offer more modern and better service.
Wallester offers Co-brand Solutions for marketplaces, which can optimize their payment system, facilitate accounting and significantly simplify basic business processes. It is a multifunctional solution that offers the following advantages:
- allows the issuance of physical and virtual cards for any purpose. Card Issuing with the credit limit and debit cards is available;
- cards can be reusable and single-use. Single-use virtual cards are issued to pay for each order individually, increasing purchase security and reducing fraud;
- available business analytics to help you keep payment statistics and get all the information you need to analyze the success of your business;
- it is possible to customize the receipt of transaction notifications via REST API. They come immediately after the payment is made;
- it is easy to control the life cycle of all cards. Through a special platform, you can quickly set expiration dates, automatically renew or change cards, block and set limits.
Wallester’s solutions allow you to manage your finances with quality and visually stand out from your competitors with White-Label Card Issuing. Payment cards, self-service portals and mobile applications, which are designed in the same corporate style, will attract the attention of new clients and increase the loyalty of the existing client audience.