Payment priorities for shared economy
- 8월 29, 2017
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Payment priorities for shared economy
Paysafe is committed to the need for a shared economy.
Headquartered in London, the Marketplace team supports new business practices and builds infrastructure between buyers and sellers in all types of markets.
This allows emerging economies to focus on business growth without having to worry about payment management and financial institutions.
Paysafe enables payments for platforms and marketplaces.
There are three essential steps to a successful payment infrastructure:
1. Merchant onboarding
The payment provider / partner completes all necessary due diligence checks on the seller to prevent money laundering and terrorist financing.
Payment partners must understand new business models such as crowdfunding and manage their associated risks carefully.
At the same time, you need to provide the seller with a quick and smooth onboarding experience.
2. Receipt of payment
Buyers prefer different payment methods for different countries.
While payment approvals may seem like a fairly standard service, a payment provider who has built up a local network can provide better payment conversions to buyers in other locations.
Another consideration is to show your payment method on your bank account or card statement.
3. Settlement transactions
Finally, when the transaction is verified and processed, you must pay the seller. This can be done through a merchant's bank account or a digital wallet.
Market participants should consider the cost as well as the availability of the network to reach the seller in the other region.
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