For marketplaces serving a fast growing number of sellers, putting the right controls in place means much more than closing the transaction lifecycle: Speed, Visibility, Accuracy, Fraud Prevention across all sellers, all channels of payment are the hallmark of a flexible yet robust payment solution.
In the simplest scenario, a marketplace could process payouts to all the sellers with the same process: payouts are processed every week for the week before. Seems easy, what could go wrong? Well, actually many things can go wrong with this "one size fits all" approach: what if a seller accumulated a very low amount during the last week and the payout will be too costly to process? Should we send new sellers all the accumulated proceeds even if we don't know what the level of fraud for their transactions is? And what we do with sellers that are unable to receive payouts the way we offer?
Sellers differentiation in payouts is more than paying them according to the number of transactions processed. Sellers loyalty is key to compete and grow, and getting paid the right amount as fast as possible is part of the conditions a good seller expects to receive from its marketplace, thus a quality seller with recurring buyers and low fraud rates should have gained enough recognition to receive its money with no delay while a new seller with unknown record understands its payout will take time to be settled.
Sellers expect the marketplace to take full responsibility for all transactions taking place over its platform, even if the processing risk is assumed by a third party. A glitch in payouts could result in reputational damage, loss of trust and ultimately lower revenues.
To explore how Amaryllis can help you manage and control your seller payouts click here.