Marketplaces are creating a lot of employment opportunities these days. A few years ago entrepreneurs used to create the own website and used to put a lot of efforts to generate traffic and later expect some profit. In today’s world, there are so many online marketplaces that help people to sell their products and services. People prefer not to spend time on starting their own website. Some people prefer to work on marketplaces as well as nurture their own website. This can be a good option because with the help of marketplaces sellers can start generating profits in a very small time frame.
Marketplaces are different kinds some of them help sellers to sell tangible products and some of them help sellers to offer services. Services may include creating websites, logo designing, Promotional videos, Voice overs and Search Engine Optimisation.
Most of the online marketplaces offer buyer protection. This is an amazing benefit for buyers. Buyers feel comfortable that if the product or service is not up to the mark they can go back to the marketplace and request a refund. This also creates a sense of urgency in the minds of the seller. The sellers take the job seriously any properly deliver the service.
Marketplaces offer a great opportunity to different sellers but they are certainly attracting a massive amount of risk. The risk comes from the sellers. In case if the seller does not deliver the product or the service then the marketplace is responsible to return the money to the customer. We must also keep in mind that most of the card brand customers can come back to the marketplace for at least the 180 days.
To reduce the risk and to enhance the profit marketplaces may put in place chargeback alert services as a defense mechanism. Marketplaces can also try to use multiple payment processing solutions so that they are not keeping all the eggs in the same basket.
Depending upon the volume of the marketplace processors may show interest. There may be a challenge for a Startup but should not be a challenge for a business that is already processing.
At Quadra services, we are proud of a partnership with multiple payment processors from across the globe. We do not process but we understand the payment processing industry and that is why we connect merchants from the Marketplace Industries directly to a recognized and reliable payment processing solution provider.
At this point in time, we do have a great solution from the United Kingdom for Merchants in the Marketplace industry. Merchants should keep a couple of things in mind.
They should not allow their marketplace to be used to sell prohibited items. There are some services are considered extremely high risk. Marketplaces should avoid given the opportunity to sell PC Tech Support Services.
We have seen few applications getting rejected just because the marketplace was allowing tech support related services on the website. They should also refrain from offering psychic healing kind of services on the website.
Although there may be credit card processing solution for psychic and tech support for a marketplace you should stay away from hosting them.
we will be happy to take the conversation further in case if you need any assistance in getting a Credit Debit Card Payment processing solution for your Marketplace.