Payment gateway for marketplace
Marketplaces are a particular category of e-commerce because they are vastly different and require an individual approach to integrating payment solutions. Not all gateways are suitable for marketplace integration.
What is a payment gateway?
A payment gateway is a technology that allows merchants to accept and process online transactions securely. We can compare it to a regular POS terminal that sellers use to accept debit/credit cards in brick-and-mortar stores.
How the gateway is involved in an online transaction:
Customer makes order
A consumer selects the product and makes an order on a merchant's website. They choose a preferred payment method and enter debit/credit card details on the checkout page.
Gateway encrypts information
A gateway receives the information, encrypts it, and sends an authorisation request to the acquiring bank.
Card network processes
The acquiring bank sends a request to the card network (Visa, Mastercard, or other) serving the cardholder.
Issuer validates
The card network contacts a consumer's issuing bank to check if the card is valid and if there're enough funds to withdraw.
Transaction approved
The issuer authorises the transaction and sends a confirmation to the acquiring bank via a gateway. The payment gateway informs the consumer of a successful transaction.
Funds transferred
After this, the funds will be debited from the consumer's account and credited to the merchant's account.
Payment gateway functions
A payment gateway can be described as an intermediary service that processes electronic transactions and routes payment information between merchants, banks, and other processing participants through a single communication protocol. It accompanies each transaction from start to finish, ensuring the protection of card data and preventing possible leaks or fraudsters.
Authentication
Customer's data encryption
Routing the data between processing participants (processor, acquirer, issuer, card network)
Notification about approval/rejection of the transaction
The role of a payment gateway for the marketplace
Marketplaces are a particular category of e-commerce because they are vastly different and require an individual approach to integrating payment solutions. Not all gateways are suitable for marketplace integration.
Single-vendor marketplace
A marketplace with only one seller offering their products. Three participants are involved: the seller, the buyer, and the intermediary between them. When setting up online payment processing, the retailer should only consider the local payment preferences of consumers and integrate the solution tailored to their needs.
Multi-vendor marketplace
A complex chain of interaction where the marketplace itself acts as an intermediary between sellers and buyers. The marketplace collects funds and then makes payouts to sellers, first charging them fees. The larger the marketplace is, the more currencies and payment methods should be connected.
Despite the marketplace type, only one thing makes it trustworthy — the high security of payment processing. It is what exactly payment gateways are responsible for.
Advantages of payment gateway for marketplace
Ease of integration
It usually doesn't take long to integrate a payment gateway into a marketplace if you partner with a payment service provider (PSP) — a third-party company offering ready-made technical solutions.
Improved security
Payment gateways provide robust security measures including encryption, tokenisation, and SSL to protect sensitive customer data and prevent fraud.
Fraud detection and prevention
Advanced fraud detection tools help identify and prevent suspicious transactions, protecting both merchants and customers from fraudulent activities.
Checkout customisation
Customise your checkout experience to match your brand and provide a seamless payment flow that enhances customer satisfaction.
Smooth shopping experience
A well-integrated payment gateway ensures a smooth and fast checkout process, reducing cart abandonment and improving conversion rates.
Favourable conditions for global expansion
Support for multiple currencies and payment methods enables marketplaces to expand globally and serve customers from different regions.
How to choose a payment gateway for the marketplace?
When you're committed to creating a secure and convenient payment infrastructure, it's time to choose a solution that best suits your marketplace. Not every service company can simultaneously fulfil the requirements of buyers, sellers, and the marketplace.
Data security tools
Since payment gateway plays a significant role in data protection, working with an unprotected tool can entail negative consequences like data leakage and fraud. Therefore, integrating a PCI-compliant payment gateway is crucial for the smooth running of your business.
Chargebacks processing
Chargebacks are very common on marketplaces because buyers often make the wrong choice or the product doesn't meet their expectations when shopping online. Choose a processor that handles chargebacks to avoid potential problems with unpaid money.
Multicurrency and multiple payment methods support
Multicurrency is essential for large international marketplaces delivering goods around the world. The same goes for payment methods, as buyers' preferences vary significantly from country to country. Let your customers choose precisely how they want to pay.
PCI DSS compliance
Check a PSP's licenses and documentation before concluding a contract. Ensure they have valid PCI DSS compliance certification to protect your customers' data and your business reputation.
Management tools
Running a marketplace means dealing with plenty of merchants and hundreds of transactions per day. PSPs provide merchant management solutions for convenient and systematised monitoring operations. Plus, you can benefit from customised report formats.
How ValoraPay can help?
It's difficult to underestimate the functionality of a payment gateway for marketplaces, as the security of transactions is paramount to customers shopping online. By providing them with maximum data protection on your marketplace, you will increase loyalty to your company and boost your revenue accordingly.
At ValoraPay, we offer much more than just a payment gateway. Take your marketplace to a new level with our e-commerce management tools.
Frequently Asked Questions
Find answers to common questions about our payment orchestration platform
ValoraPay is a universal feature-rich payment hub for online businesses and payment institutions. We integrate payment providers and acquirers all around the world to bring a unified communication, control, and management interface. Our platform helps businesses streamline payment processing, reduce integration complexity, and improve transaction success rates.
Getting started is simple. Sign up for an account, complete the onboarding process, and connect your payment providers. Our team will guide you through the integration process, and you'll have access to comprehensive documentation and API references. You can also test in our sandbox environment before going live.
We support 1200+ payment providers in our network, including major processors like Stripe, PayPal, Adyen, and many regional providers. Our platform offers 500+ ready-made integrations, so you can connect with providers worldwide without additional development work.
With ValoraPay, you can accept various payment methods including credit and debit cards (Visa, Mastercard, American Express, Discover), digital wallets (Apple Pay, Google Pay, Samsung Pay), bank transfers, local payment methods, and cryptocurrencies. Our platform supports 200+ currencies and cryptos, giving you global payment acceptance.
Our intelligent routing system automatically directs transactions to the best-performing payment provider based on success rates, costs, and region. Cascading allows failed transactions to automatically retry with alternative providers, maximizing your approval rates and ensuring smooth payment processing.
Yes, security and compliance are our top priorities. We are PCI DSS Level 1 certified and comply with GDPR, PSD2, and other regional regulations. All transactions are encrypted, and we provide advanced fraud prevention tools, 3D Secure support, and comprehensive risk management features to protect your business and customers.
ValoraPay offers real-time transaction monitoring and comprehensive analytics dashboards. Track transaction success rates, revenue, refunds, chargebacks, and provider performance. Generate detailed reports, reconcile payments automatically, and gain insights into your payment operations to optimize performance and reduce costs.
Absolutely. ValoraPay offers white-label payment provider solutions that allow you to brand the platform as your own. Perfect for payment institutions, PSPs, and businesses that want to offer payment services under their brand. We provide full customization options and dedicated support for white-label implementations.
We provide comprehensive support through multiple channels including 24/7 technical support, dedicated account managers for enterprise clients, detailed documentation, API references, and an active developer community. Our support team is available via email, chat, and phone to assist with any questions or issues.
Our pricing is flexible and scales with your business. We offer transparent transaction-based pricing with no hidden fees. Contact our sales team for a customized quote based on your transaction volume, required features, and business needs. We also provide an ROI calculator to help you estimate potential savings.
Still have questions?
Contact Support