What’s a Marketplace Payment API?
Global marketplaces are thriving. Businesses from all over the world are seeking out platforms like HireAthena for efficient solutions in people operations and accounting, or Cargocentric for their international logistics needs.
Whatever a business may need, there’s a global marketplace for it.
People who don’t run marketplaces tend to think that it’s an easy job. You set up a platform, advertise yourself, get clients, and from then on, everything takes care of itself. Apart from the occasional troubleshooting, there’s not much a marketplace owner needs to do. Right?
Wrong.
A marketplace owner has to make sure that everything runs as smoothly as possible. However, that’s far from easy. Since global competition is fierce, no marketplace owner can allow themselves to sit back and relax.
You have to stay on top of your processes and constantly evolve to win and retain clients.
Luckily, most of it is really up to you. For example, communications, project management, and IT troubleshooting is entirely your territory and you can do whatever you think is necessary to remain the best marketplace in your industry.
But what happens when you have to turn to outside providers? There are sides of your business that you simply can’t take care of by yourself.
Like payments.
Payment Options
There’s something all marketplaces across all industries have in common: they need to send and receive payments to and from each and every one of their clients.
For a big marketplace, this may mean thousands of transactions each day. Collecting payments from each payor and sending them on to each payee is a tedious task. One little mistake can send a transaction astray, resulting in a long process of rectification.
But even without mistakes, sending and receiving global payments is a painful process, requiring lots of attention and manpower. Your marketplace’s clients expect the fastest service, otherwise they may go somewhere else.
What can you do?
It’s easy: you need to choose the best service provider to handle your marketplace’s global payments.
Marketplace Payment API
Thanks to the advance of financial technology (or FinTech), marketplaces can now opt for cost-effective, easy, and sustainable global payment options, like Veem.
What’s an API?
An API (application programming interface) is a software that allows two platforms to communicate with each other.
Veem’s marketplace payment API allows you to facilitate effortless payments between all your clients.
How does it work?
Veem’s API seamlessly integrates your accounting and marketplace software with Veem’s global payment platform.
Once the integration is complete, you can start sending payments between your clients with just a click. You can say goodbye to complicated processes, hidden costs, and unexpected delays.
Veem APIs are open to marketplaces in all industries, including crowdfunding websites, HR platforms, Supply Chain Management, software, and logistics solutions.
You can embed Veem payment options into your marketplace’s invoices, making the whole process of payment effortlessly easy.
Veem uses a multi-rail API that provides the most cost-effective and efficient route for your international payments. Transfers may travel via blockchain technology, treasury, or third-party payment processors. Each payment goes through the shortest and most cost-effective route.
Real-time Tracking
Nobody likes getting angry mail from your clients, demanding to know where their payment is. With Veem’s API, you can stop worrying about that.
Veem allows you to track all your payments in real time. This means that you’ll know exactly when each transaction arrives. Your clients will thank you for it.
To top it all, Veem charges no wire fees, and offers competitive foreign exchange rates.
All in all, Veem can save you valuable time and money you can spend on developing your business.
Sign up for a free Veem account to click, save, and grow.
