Marketplaces Payments
Design and customise the payment flows that best suit your marketplace quickly, easily and with a single integration.
Global solution
Marketplaces can create and configure the payment system with their own rules by customising every detail.
Easy integration
Everything you need in a single, fully documented and supported API integration.
PSD2 compatibility
We comply with all the safety regulations required by the European Union.
The scalable payment solution for marketplaces
The speed of integration and flexibility of the Truust API gives your business full control of the payment processes on the platform. That means less stress and better results.
Payments Automation
Manage easily the payments of your marketplace among all the parties involved and in an automatic way. Payments to suppliers can be made instantly avoiding having to make payments to suppliers manually.
Minimizes fraud risks
We comply with all European Union regulations, PCI DSS Level 1 certification.
Decides the commissions
Have full control over the platform’s commissions and percentages for suppliers. You have a control panel from which you can monitor any transaction carried out on the platform.
Accept transfers and cards
Offer the most widespread payment methods in Europe to your marketplace customers. In addition to being able to configure the platform’s notification system to receive alerts every time an event is executed.
Let’s start by defining what it is, although by separating the words “deposit” and “guarantee” we can get an idea. It consists of the buyer temporarily depositing the amount of money he has to pay the seller into the account of a third party. In this way, he guarantees that he has the money and that he intends to make the purchase.
This is a very common type of operation in the real estate sector but its functionality has crossed borders and it has also been installed in the way many marketplaces work (Airbnb, Amazon or Fiverr).
Escrow in a Marketplace
Escrow is based on leaving the money to be paid in a security deposit held by a trusted third party, called an escrow agent. In an online sale, that amount is not transferred to the seller until it is confirmed that the product has arrived in good condition.
In case the buyer receives a defective or different product/ticket/service than the one he ordered, the money will be refunded.
The item would also be returned to the seller, so there is no possibility of fraud in the event that some fraudster wants to keep the product (which he wanted to sneak in as defective) and the money.
The escrow contract has many applications but all are based on the principle of giving security to both the buyer and the seller, something that other payment methods such as PayPal, credit card or cash on delivery do not guarantee.
The way to incorporate the escrow method as a payment method in your Marketplace is through an escrow API such as truust. With it you can make the operation from the same online store with total security.
If you are interested in learning more about the API and the possibility of collecting through an escrow, please contact us.
Want to explore more?
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