Dutch payments service provider Mollie has launched Connect for Platforms, a product designed to help online SaaS and marketplace platforms integrate, accept and route payments and onboard customers.
“Connect for Platforms helps SaaS and marketplaces with an easily integrated payments solution that enables effortless onboarding and improved operational efficiency,” the company said in a news release Thursday (March 17). “We verify both the marketplace and sellers with full know your customer (KYC) checks, saving time and reducing operational workload.”
Mollie said the tool offers multilingual, local support, configurable APIs and a split payments feature that lets marketplaces distribute payments to multiple sellers. The release quotes Q-Park, an international parking operator in Western Europe, and one of Connect for Platform’s first adopters.
“As Q-Park has over 3,000 parking facilities in seven Western European countries, we were looking for a payment solution that enables us to both centralise payments acceptance, as well as allocate revenues to a variety of financial entities,” said Frank Janssen, the firm’s corporate information manager.
Rogier Schoute, Mollie’s chief product officer, said the tool “meets a very important need that is very close to our hearts: simplifying payments in a complex, multi-party ecosystem.”
Read more: Mollie Looks to Improve Marketplace Product With a Financial Services Suite for European SMBs
In an interview with PYMNTS last month, Mollie CEO Shane Happach said the company has seen business explode since the onset of COVID-19, disrupting a market once dominated by the decade-plus old eCommerce payment system, iDEAL.
That system was launched by local banks to allow customers to pay for online purchases via direct online transfers from their bank account. Happach acknowledged that the iDEAL network is one of a few in Western Europe where bank-to-bank payments have successfully challenged card dominance and reduced payment costs for consumers.
Still, he said, banks never went the extra mile to cater to business-to-business (B2B) customer acquisition for online payments.
“They [banks] provided the rails and the infrastructure, but a company like Mollie made those integrations far easier to consume and allowed businesses that wanted to take payment to have a full checkout — not just the last mile, but everything that was required to get a customer through the shopping experience, and then all the way through to reconciliation and aftercare,” Happach told PYMNTS.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More