Paylands partners with ChangeIt to launch a specialized payment platform

Marketplaces and sharing economy platforms are two booming business models that are characterized by bringing together different buyers and sellers, either B2B B2P or P2P. This leads to an increased complication in economic transactions, which must be divided according to customized criteria on each occasion (split payments) and reach their destination as quickly and efficiently as possible (pay-in and pay-out).

In order to simplify payments for marketplaces and sharing economy, PaynoPain, thanks to our license to operate as a payment institution, has decided to create a platform based on the technology of our two main solutions: Paylands and ChangeIt. Our goal is to simplify split payments and pay-in and pay outs, allowing customization and adaptation of the process to each circumstance. 

These are the main advantages of the Paylands and ChangeIt platform specialized in marketplaces and sharing economy:

Split payments

When a purchase is made in a marketplace, the process of split payments is carried out, which entails that both the merchants and the platform receive their share, taking into account commissions that may vary in each case. This process is complex and requires flexibility in order to be carried out in real time or automated, depending on the needs of each client. 

Alternative payment methods

Paylands combines a variety of payment methods, in addition to debit and credit card payments, such as Bizum, Google Pay, Sofort or cryptocurrencies. This is especially important in businesses such as marketplaces, where there are a multitude of target audiences and each has its own needs and preferences. In addition, offering alternative payment methods is a very good idea when it comes to standing out from the competition.

Agile Know Your Customer (KYC)

Although not always necessary, marketplaces and businesses based on the sharing economy that need to comply with the law will find in our automated KYC system a fast and agile procedure, so that they do not have to worry about anything but their core business.

European Directive PSD2

This new regulation regulates online payments and requires, among many other things, that marketplace business models operate only with Payment Institutions. PaynoPain is licensed by the Bank of Spain to operate as a PE, so we help our customers to comply with the regulations and offer a specialized and secure service. 

Our new payment platform designed for marketplaces and sharing economy is also backed by the experience of 10 years innovating in online payment methods and working with thousands of satisfied customers. If your business is based on this type of model, do not hesitate to contact us to see how we can help you. 

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