The CentralPay marketplace payment solution
CentralPay, the French electronic money institution and expert in payment solutions, offers an integrated, turnkey service portal. Objectives: optimize merchant onboarding, automate fractional payment of funds and simplify all accounting obligations. Its payment solution for marketplaces meets PSD2 compliance requirements and accelerates their development.
A contracting portal to facilitate and accelerate onboarding
Enrolling merchants in a marketplace is a crucial step towards success. Too slow or too complex, the process can become a hindrance to a marketplace seeking to offer new products quickly, and stay ahead of its competitors.
To speed up the onboarding of new merchants, particularly during peak periods, CentralPay has developed a contractualization portal which it makes available to the marketplace. Previously completely separate, the KYC (Know-Your-Customer) control and contractualization stages are now seamless and successive. The contracting portal makes it easy for merchants to sign up electronically for general terms and conditions of use, contracts and price lists. What’s more, it frees the marketplace from the tedious task of collecting and verifying information, a task reserved for CentralPay.
To further optimize the process, CentralPay also offers marketplaces the opportunity to test the sales platform for their merchants, by opting for almost instant enrolment via the creation of a limited account. Merchants can make sales of up to €2,500 (excl. VAT), subject to KYC checks, and explore the marketplace’s capabilities.
Split funds for faster, more transparent returns
CentralPay provides marketplaces with a set of dashboards for tracking transactions in real time and simplifying settlement operations, building trust between parties and supporting merchants’ cash flow.
In the multi-merchant single basket, automated splitting enables funds to be paid out in real time to each merchant concerned, as sales progress. The amount of commission charged is clearly and transparently shown.
Merchants also have access to real-time tracking of their own sales, enabling them to fine-tune their inventory or optimize their logistics. It can also respond quickly to any cancellation or refund requests from consumers via their dashboards. The marketplace can offer its merchants a level 1 service for simple cancellation operations.
Facilitating accounting exports for 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 bank reconciliation work, the cornerstone of accounting.
CentralPay supports the merchant platform’s activity by automatically tracking multi-party transactions, lettering bank operations, issuing monthly reports and exporting to spreadsheets.
Reporting, legibility and details of operations provide both the marketplace and merchants with accounting and financial optimization, helping them to better analyze flows and guide their strategic decisions.