Online Payments

Worldline rolls out payment solution for online marketplaces

By May 3, 2019 No Comments

Worldline has introduced a dedicated payment solution for online marketplaces that ensures payment processes between all parties in the ecosystem.

The payment solution is aimed to cater for the particular needs of marketplaces, ranging from classic marketplaces for physical products, franchise systems, travel agents, self-check-out solutions through to delivery services. For these marketplaces, a high number of currencies can be processed, the solution providing Dynamic Currency Conversion (DCC) too.

When using the solution, operators of a marketplace do not need to have their own payment institution license. Worldline, as a regulated pan-European company, fulfils all the requirements of a licensed payment service provider. This ensures compliance with payment transaction regulations, AML rules, and KYC obligations.

The solution can be integrated into a marketplace platform and is capable of managing ‘mixed’ shopping baskets consisting of products from various sellers and for different delivery dates. In addition, all automated payments including variable commission models are processed via a unified API (Application Programming Interface). From a contractual perspective, only the marketplace operator holds a relationship with Worldline.

The technology behind the payment transactions is tokenization, whereby sensitive data such as credit card numbers are encrypted and replaced by substitute numbers called ‘tokens’.

The first online marketplace customers have already been on-boarded in Austria, Cyprus, and Switzerland, where SIX Payment Services has been part of Worldline since the end of 2018.