AMSTERDAM | Sourced from the company blog, global payment provider Adyen launched its new payment service to Marketplaces called Adyen MarketPay.
Complexity for Marketplaces
As more and more marketplaces grow their business internationally, they are increasingly confronted with the complexity of taking payments online and transaction settlement. The need for local alternative payment methods, time-consuming and complex contractual arrangements with individual payment processors and banks, complying with local rules and regulations, and - particularly important for marketplaces - the splitting and reporting of payments between sellers and commissions, can create huge burdens for online Marketplaces and slow down their market expansion.
Adyen MarketPay – which is now helping businesses such as Groupon, BlaBla Car, and Helpling - aims to take away those challenges by delivering one payment platform and being the only contractual and technical partner for the processing of payments for these Marketplaces.
With Adyen MarketPay, marketplaces are able to benefit from:
- Automated splitting of payments between sellers and commission bank accounts.
- Fast, cost-effective payouts (in most European markets, Adyen MarketPay enables local bank payouts, meaning no international banking fees).
- Over 250 local payment methods for shoppers.