April 7, 2017 | Written by: Chris Shaw
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An online ‘marketplace’ is a centralized trade exchange for buyers and sellers of goods and services managed by the marketplace operator. Well-known marketplaces include services like Avvo for legal advice, Fiverr for creative services, TaskRabbit for small jobs or Thumbtack for local services work.
As a marketplace provider, accepting payments can be daunting. When you collect on behalf of all your participants it is critical that the correct amounts be distributed to the correct parties at the correct time to ensure trust and scalability for your marketplace.
IBM Payments Gateway is a recognized leader among Global Commerce Payment Providers.
With the 17.1 release, IBM has introduced a complete marketplace payments solution with automated accounting and reimbursement for sellers. IBM Payments Gateway manages identity verification, split transactions among sub-merchants, tax reporting, a global reach with access to more than 355 payment methods in nearly 100 countries, and more. The IBM Payments Gateway solution brings you peace of mind with a secure token vault with the highest PCI certification level that minimizes your exposure to a customer payments data breach.
Your customers make a single payment that is distributed to multiple sellers, with tracking of individual item sales and allocation of participation fees. Soon, detailed reimbursement reporting will be added.
Learn more about the IBM Payments Gateway and sign up today for a free trial today to make the most of your marketplace!
IBM Payments Gateway is a cloud consumer payments acceptance solution for merchants, billers and retailers. The IBM solution enables organizations to accept 330 payment types working with over 220 banks and processors in a security-rich environment, with localized support in nearly 100 countries.
We offer secure support for your payments marketplace whether you’re looking to grow as a global provider, provide a more consistent shopping experience or reduce the potential for fraud.