Full stack payments firm Checkout.com is launching a new customized flexible solution to accommodate marketplaces and sellers in a digital economy that is always developing and advancing.
The launch of Checkout.com’s latest tool, Integrated Platforms, is intended to assist the increasing number of people selling online by enabling marketplaces to build a bespoke, optimized payments flow, according to a press release on Thursday (Sept. 8).
The payments flow is developed through fully integrated APIs and tailored to meet the individual needs of each business. Integrated Platforms enable frictionless seller onboarding and automated funding flows in addition to detailed reports and analytics designed to boost revenue, attract buyers and retain sellers.
“Ultimately, marketplaces are as successful as their sellers are, and vice versa. This is why empowering marketplaces to build relationships and facilitate sellers through efficiency is so important” Checkout.com Vice President of Product Management Yael Barak said in the press release.
See also: 70% of Consumers Bought Food From Restaurants in July, Down From May Peak
“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,” Nuno Fernandes, general manager and head of growth at restaurant discovery platform Zomato Portugal, said in the release.
“Checkout.com’s solution for marketplaces means we now have a broad range of payment methods available to support local requirements. Getting customers onto 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,” he added.
While eating out is on the decline, it’s still a factor when it comes to making mealtime decisions, PYMNTS data shows. In July, 70% of consumers reported having made a restaurant purchase in the previous 30 days, down from 73% in May and 72% in June, closer to the 69% that said the same in March and April, according to the PYMNTS study “Digital Economy Payments: Consumers Buy Into Food Bargains.”
Read more: Here’s Why 60% of Online Firms Have Upped Their Use of Digital Marketplaces
Because seller relationships are vital, Checkout.com’s new solution strives to make it easier for marketplaces to initiate and maintain those relationships, according to the release. Integrated Platforms can provide the information marketplaces can use to understand sellers’ needs at every stage of the payments journey.
Related: Checkout.com Enhances Authentication Tool to Reduce Abandoned Carts
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More