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UniPayGateway

August 18, 2016
Written by
James Davis
Written by James Davis
Senior Technical Writer at United Thinkers

Author of the Paylosophy blog, a veteran writer, and a stock analyst with extensive knowledge and experience in the financial services industry that allows me to cover the latest payment industry news, developments, and insights.

My works have been cited across media and payment blogs. I do my best to help businesses make the most efficient financial decisions that can positively and significantly improve their business growth.

Whether you are a seasoned investor or just starting out in the world of payments, my writing is designed to be accessible to everyone and help people navigate the complex world of payments. So if you want to stay up-to-date on the latest trends and insights in the payment industry, be sure to check out Paylosophy and my published works.

Reviewed by
Kathrine Pensatori
Product Specialist at United Thinkers

Product specialist with more than 10 years of experience in the Payment Processing Industry. I help payment facilitators and PSPs solve their various payment processing issues. On a regular basis, I work with a team of knowledgeable technical people in the space, and I am passionate about finding creative solutions to the challenges presented by the Payments Industry.

I would be happy to help with any questions you might have regarding credit card payment processing, merchant services, EMV certifications, the various ways of becoming a payment facilitator or a payment platform, as well as any other Payment Industry related issues you might be struggling with. Feel free to follow me on Quora, and don’t hesitate to send me links to the specific Quora questions you would like me to answer.

The Concept of Online Marketplace

The concept of online marketplace became relevant after rapid development of companies, which chose online marketplace model as their basic business model. The most well-known examples include Uber, eBay, as well as Amazon.

In the online marketplace model credit card processing has its peculiarities. Transaction processing mechanism, used in marketplaces, has to be capable of splitting the overall transaction amount into several (more than two) parts, which are then deposited to different entities. Beside the merchant and the processor, these entities can include marketplace owner, online marketplace software vendor, and different types of affiliates.

Partnership With a Payment Platform

In order to be able to effectively distribute the amount of every transaction among multiple parties, the company, which follows online marketplace business model, needs to implement split funding functionality. Consequently, if you decide to provide online marketplace services, you need to partner with a payment platform, which supports split funding logic.

More detailed information on online marketplaces can be found in the respective article on Paylosophy.

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