CentralPay facilitates the growth and optimization of marketplaces

With its payment solutions for marketplaces and platform, CentralPay promotes an environment conducive to the deployment of services designed to enhance the attractiveness of your platform.

Payment solutions for marketplaces

The CentralPay marketplace payment solution

Le 15 January 2021

CentralPay, the French electronic money institution, expert in payment solutions, offers an integrated and turnkey service portal. Objectives : optimize the onboarding of merchants, automate the installment of funds and simplify all accounting obligations. Its payment solutions for marketplace meets the PSD2 compliance requirements and accelerates their development.

A contracting portal to facilitate and accelerate onboarding

Enrolling merchants into a marketplace is a critical step in its success. Too slow or too complex, the process can become a hindrance for the marketplace which seeks to quickly offer new products, and ahead of its competitors.

To speed up the onboarding of new merchants, especially during peaks in activity, CentralPay has developed a contracting portal that it makes available to the marketplace. Completely separate until now, the KYC (Know-Your-Customer) control and contractualization stages become successive and seamless. The contracting portal facilitates the entry of merchants via an electronic signature of the general conditions of use, the contract and the price lists. In addition, it frees the marketplace from the painfulness of collecting and verifying information, reserved for CentralPay.

To further optimize the process, CentralPay also offers payment solutions for marketplaces in order to give their merchants the opportunity to test the sales platform, opting for almost instant enrollment through the creation of a limited account. The merchant can make up to € 2,500 excluding tax in restricted sales until the KYC checks are carried out and thus explore the functioning and possibilities of the marketplace.

Fund splitting for faster and more transparent remuneration

CentralPay provides payment solutions for marketplaces with a set of dashboards for monitoring real-time transactions and simplifying settlement operations, building trust between parties and supporting cash-flow for merchants.

As part of the single multi-merchant basket, automated splitting allows the transfer of funds in real time, to each merchant concerned, as the sales progress. While the amount of the commission withdrawn appears in an explicit and transparent way.

Each merchant also has access to monitoring their own sales in real time, which allows them to adjust their stock as closely as possible or to optimize their logistics. It can also respond quickly to any cancellation or refund requests from consumers via their dashboards. The marketplace, for its part, may offer to perform a level 1 service on behalf of its merchants for simple cancellation operations.

The facilitation of accounting exports for a reliable bank reconciliation

Combined with real-time monitoring dashboards, the centralization of payments, the isolation of each transaction and the automation of accounting reports promote traceability and considerably simplify the work of bank reconciliation, the keystone of accounting.

CentralPay supports the activity of the merchant platform by allowing, automatically, the traceability of multi-party transactions, the lettering of banking transactions, the editions of monthly reports and exports on spreadsheets.

The reporting, readability and detail of operations ensure both the marketplace and the merchants an accounting and financial optimization which contributes to a better analysis of flows to guide them in their strategic decisions.