How to optimize the marketplace work

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A marketplace is a trading platform that provides information about third-party goods and services. Both companies, private entrepreneurs and individuals can offer their products on such platforms. Marketplaces have grown in popularity in recent years, as it is much more profitable for manufacturers; and small retailers to sell their products through a ready-made platform than to deal with marketing; selling, shipping and many other services provided by an e-commerce platform. To be in demand, marketplaces must constantly improve the quality of their services. It can be done by utilizing the innovative Payment Card Solution

Advantages of trading in a Marketplace

A marketplace is essentially an intermediary between sellers and buyers. Some e-commerce marketplaces cooperate with suppliers of only one specific type of goods and services. There marketplaces engaged in realizing everything related to a particular direction, such as toys, clothing or car accessories. But the most popular are universal platforms that sell absolutely everything.

There are several reasons to sell products through a marketplace: the end consumer is more likely to use big, well-known sites that are at the top of the search engine; for a manufacturer or small retailer to sell on its site; it is necessary to organize its warehouse and think through the logistics to ensure the order is delivered on time. Working with a marketplace, it is enough to deliver all your goods to his warehouse; along with this and all questions about the sale and delivery will fall on his shoulders; it is cheaper to be at the top of the marketplace than to promote your brand; there is an opportunity to trade on the foreign market, while the marketplace will deliver goods.

Sell Their Goods:

Thousands of partners place ads to sell goods and services on one marketplace. After the sale of their products, the e-commerce platform, after the time specified in the contract, must transfer the proceeds to the suppliers, excluding commissions and fees. And that’s where the problems start if marketplaces cooperate with traditional banking institutions.

Marketplaces have suppliers located all over the world, and multiple orders and payments need to be processed at the same time. The outdated banking system cannot cope with such a load quickly and efficiently, so payments can processed and passed from several hours to several days. Such an algorithm significantly slows down the business processes of the marketplace, complicates accounting and negatively affects the level of service and, thus, the platform’s reputation. Co-brand Solution from Wallester will help optimize the marketplace’s work and make the work with payments faster and better.

What is the best solution for marketplaces?

Wallester offers to modernize the payment system for marketplace’s, not to depend on banking institutions, but to carry out card Issuing independently. A proprietary card issuing program can facilitate accounting and simplify key business processes.

Through the platform, you can issue single-use and reusable virtual cards, significantly simplifying and speeding up mutual settlements with partners, suppliers and customers. Payments on such cards are made instantly, even if there are many transactions, and they are made in different countries worldwide. The payment is confirmed instantly, so the settlement between the parties to the transaction on the marketplace is also instantaneous. White-label card Issuing will be an additional advantage for your marketplace, making it more name-recognizable.

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