Launching a marketplace or transforming an existing one into a transactional platform can be daunting, making it difficult to know where to begin.
You may be weighing up various payment processors while also considering legal and financial risks associated with complaints, chargebacks, and potential fraud on marketplaces. You might also be contemplating expanding your team to handle support and operational tasks.
But luckily for you, Trustap can provide you with what you need to get your marketplace transaction-ready, without the need to scale operational costs or headcount.
Trustap works closely with marketplaces to provide tailored solutions that meet their specific needs, ensuring a safe platform and profitable transactions. Our approach allows marketplace leaders to eliminate the stress, cost, and liability of managing transactions from start to finish.
What Trustap Does
Though it is one part of what we do, Trustap is a lot more than a payment processor. We transform marketplace transactions with an all-in-one platform that protects buyers, sellers, and the marketplace itself, while integrating payment, fulfilment, and support into the platform.
Here’s an overview of the transaction operations that Trustap manages.
- Merchant of Record: Trustap is legally responsible for processing and handling transactions and assumes and manages all risks associated with this. This includes legal responsibilities such as regulation compliance. With other payment processors, it is you who takes on the responsibility, and risk, of transactions.
- Buyer protection: Trustap offers ultimate buyer protection when transacting on a marketplace. When a buyer sends payment, funds are temporarily held in a secure hold until the purchase is received and inspected. Once approved, the funds are released to the seller. This process ensures your marketplace users can purchase with complete confidence.
- Fraud detection: Fraud detection is automated as part of the payment process, but we also have a dedicated team of fraud analysts that will pause, investigate and resolve any suspicious transaction before funds are released.
- Integrated shipping: Shipping can be seamlessly integrated into your UI, keeping users on your platform for arrangements and in turn boosting conversions. We partner with major couriers to offer your users flat-fee, nationwide shipping, with shipping costs incorporated directly into the item price.
- Dispute resolution: Our 24/7 global support team is on hand to mediate and resolve disputes or disagreements.
- Liability management: We handle liability for transactions, including any potential chargeback claims.
- Security: Our transactions are processed via Stripe, of which we are a verified partner, so you can depend on utmost security.
Benefits for Marketplace Owners
Integrating Trustap into your marketplace offers many benefits.
- Maximise revenue: Increase profitability with flexible monetisation and new revenue streams, all while scaling effortlessly without extra resources.
- Profitability: Make your transactional model profitable from day one with early cashflow and positive margin, thanks to our zero-risk, zero-upfront investment model.
- Eliminate complexity: Trustap’s full service transaction management ensures a secure and streamlined process, while releasing marketplace leaders from the worry of issues like compliance and complaints.
- Ultra-safe marketplace: Decrease the risk of fraud taking place on your marketplace (thanks to Trustap’s fraud detection feature and support team) and provide users with a marketplace that is ultra-safe.
Benefits for Marketplace Users
Trustap also protects marketplace users from scams and provides them with a completely safe buying experience.
By integrating Trustap into your marketplace, you are giving buyers and sellers the ability to:
- Transact with complete confidence (thanks to Trustap’s buyer protection and support)
- Transact seamlessly with built-in shipping options
In summary
Enabling transactions on your marketplace with Trustap offers a host of benefits that go beyond payment processing.
Trustap gives you the opportunity to focus on your core business and increase profitability, while we handle risks and responsibilities around transactions and disputes. As well as this, we give your buyers and sellers the ability to transact securely and safely, boosting their marketplace loyalty.
If this sounds like something you are interested in, reach out to us here.