The idea of the online marketplace has become ever more important as more and more businesses, such as Amazon, eBay, and Uber, choose the online marketplace model as their primary business model.
Online marketplaces must deal with certain oddities when it comes to credit card processing. They need to have in place a transaction processing mechanism that allows transactions to be divided amongst multiple separate entities, including merchant, processor, marketplace owner, online marketplace software developer, and various affiliates, as appropriate.
Online businesses that follow the online marketplace business model must have a payment platform that accommodates split funding functionality, in order to effectively distribute transactions among the various parties necessary.
Feel free to contact us to learn more about the online marketplace model, split funding capabilities, and credit card processing for online marketplaces.