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Marketplace: What is the best payment solution based on your type of business (and what you should keep in mind)

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On several occasions we have talked about the growing importance that different solutions and payment methods are taking within the business ecosystem. A trend that we can find both in digital and physical stores, and belonging to any sector of the economy. This is mainly due to the benefits that these tools offer to businesses, such as: increased loyalty, higher conversion ratio and higher sales, improvements in the average ticket, etc.

However, incorporating various payment solutions in itself offers a great help to businesses. But, some tools and platforms work better for certain businesses, so choosing which type of solution to implement according to your business model could become a definitive differentiating factor in the market. For this, payment platforms offer different tools and strategies, whether for marketplaces, SaaS businesses or on demand.

Marketplaces: more agile and simplified means of payment for globalized payments

In the current ecosystem, marketplaces are the fastest growing eCommerce format in the market; which also makes it a field of broad competitiveness. For this reason it is of greater importance to find those tools and strategies that can make our business stand out above the rest.

One of the most outstanding points of marketplaces is the dynamics between sellers and consumers, so a payment solution for this model should have proposals that allow this aspect to be optimized. Tiered payment solutions could help in this regard, providing greater security and efficiency for sellers to manage their customers.

In this way, time management is of the utmost importance, which is why solutions that offer real-time confirmation and more advanced payment flows should be sought. Because with this you can guarantee a much broader scope and adapt more easily to more complex markets, especially if a globalized payment functionality is integrated.

The incorporation of these characteristics promises the opportunity for businesses to elevate their sales process with higher category companies, by offering a distinctive and efficient experience. Thus, business growth can be encouraged.

SaaS platforms: solutions adapted for business growth

Presenting a slight contrast to the previous point, SaaS platforms demand a different payment model; specifically one that offers some complexity to this process, and that thereby allows optimization of the buying and selling process.

For SaaS services an important feature is that it includes information on payment optimization, risk management, reporting and operations. Managements of great importance for businesses, and that allow them to closely monitor the performance of strategies and payment solutions. Which would generate greater effectiveness if presented as a single contract for the different means of payment.

Adyen is a well-known payment platform that is run on these principles, as seen in its partnership with Skidata, a global market leader in access and revenue management. This collaboration allowed Skidata to foster a conducive interaction space, where it connects its needs with those of users in order to significantly boost sales.

For on-demand businesses, the focus is on driving rapid growth

Currently, we are at a time where on-demand businesses have a considerable increase in work. Among the most valued features of this business model, we find the simplified issuance of taxes together with reports; together with the issuance of corporate cards, with which they have proposed an empowerment for the people who are in charge of offering their services. Here too, the need for faster and fresher payment solutions is noteworthy, in addition to accepting new modalities, such as accepting orders by online, mobile or on-site orders.

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