Payment service provider Checkout.com has launched a new payment solution, Integrated Platforms that aims to meet growing online marketplace demands.
70% of ecommerce is expected to take place on marketplaces by 2025 and by 2027, marketplace sellers will account for 59% of global ecommerce sales. Among these sellers is an emerging category of “micro-entrepreneurs”, who make up more than half of online marketplace sellers (56%) across industry segments such as food delivery, ride-hailing and luxury goods. Checkout.com has launched Integrated Platforms to give marketplaces and their sellers the support they need to navigate this explosive growth.
The Integrated Platforms solution enables marketplaces to build a bespoke, highly-optimised payments flow through fully integrated APIs, tailored to their business needs. Integrated Platforms will enable frictionless seller onboarding, automated funding flows and detailed analytics reporting – developed to increase revenue, attract more buyers and retain sellers.
Marketplaces can now maintain and control their relationships with their sellers, better understand their needs and give them what they want at every stage of the payments journey. They can access all potential payment capabilities in one place and curate a bespoke experience for each seller.
Consumption habits around dining out have changed drastically since the pandemic and users are making more informed decisions about where they want to go and why. Checkout.com’s solution for marketplaces means we now have a broad range of payment methods available to support local requirements. Getting customers on to the platform quickly is important for us, but feeling empowered to more easily track and reconcile different payments using this platform is where we’ve seen the biggest impact.– Nuno Fernandes, General Manager & Head of Growth at Zomato Portugal