Online marketplaces follow very specific laws, particularly when it comes to payment processing, and this involves special requirements and regulations for operators. In line with these and future framework conditions, heidelpay developed solutions at an early stage as an all-in-one payment partner so that marketplace operators are able to focus entirely on their core business.
Payment processing for online marketplaces
Financial transfer transactions are the general rule for online marketplaces: the funds are transferred from the customer to the seller via the online marketplace operator – all payments are processed via the latter’s accounts. However, these types of financial transfer transactions are subject to mandatory approval under the Payment Services Supervision Act. This means that the marketplace operator needs to have a licence from the Federal Financial Supervisory Authority (BaFin).
heidelpay has two scenarios available to support marketplace operators:
- If the operator already has a BaFin licence, heidelpay can relieve them of significant effort by taking over the entire processing of the transactions.
- As a payment institute licensed by BaFin, heidelpay can also provide complete and secure payment processing for marketplace operators in compliance with the law, including payment of revenues and commissions to participants and operators. In this case, the operator does not need to have their own licence.
Additional benefits with heidelpay
heidelpay also lets you to offer many other features that make an online marketplace attractive for both providers and customers:
shopping baskets for multiple retailers and wholesalers:
customers can order products from different retailers and wholesalers in one checkout process
simple returns processing:
returns are allocated automatically to the relevant retailers and wholesalers, including with mixed shopping baskets
discount and voucher campaigns:
heidelpay allows discount and regular vouchers to be accepted, with or without involving the retailer or wholesaler
web-based, easy & rapid integration of new retailers and wholesalers