A payment solution for marketplaces
Rise of marketplaces in ecommerce
Marketplaces are on the rise. Since 2014, the number of marketplaces has skyrocketed and the sector has an estimated annual turnover of 2 to 4 billion euros. Expectations are that within short term, 40% of all online transactions will be made via a marketplace. There are several online marketplaces: for products or services, for a broad audience or a specific niche, for b2b, b2c or c2c. Buckaroo offers a payment solution for b2c marketplaces.
Payment solution for marketplaces
One of the advantages of a marketplace is that the diversity and the available range of products or services is much wider than any individual supplier could ever offer. Multiple suppliers can sell their products or services from one central location, the marketplace. Thus, at the end of the funnel, there’s often a mixed-basket: different suppliers end up in one and the same shopping basket. The consumer pays the total amount of the basket at the marketplace’s checkout. Payment to each individual supplier is made via split-payments. A Buckaroo payment solution.
Products and services from multiple suppliers can be checked out with one single payment. When it comes to making payments to multiple suppliers, Buckaroo offers the possibility to split payments. Marketplaces can indicate how the purchase amount should be split and which percentage is reserved for the marketplace itself.
In general, marketplaces are not financial institutions and therefore cannot process payments. According to new PSD2 regulations of the Nederlandsche Bank (the Dutch central bank), it is also not allowed for platforms to receive payments and split these payments themselves amongst the multiple sellers on the platform. As a payment service provider, Buckaroo however does have the required licences and certificates for the processing of marketplace payments.
At Buckaroo, we employ experts in the field of Marketplaces Split-Payments. Together, we can develop a marketplace strategy that is a perfect fit for your organisation. Feel free to contact us for more details.
The ideal payment method differs per situation, product or service. Because of our wide range of payment methods and unique features, we at Buckaroo are always able to offer you an appropriate solution. Let the following cases inspire you.