Don’t underestimate the importance of marketplace payment
On a daily basis, marketplace payment is critical on two levels:
- Customer experience, which directly impacts conversion
- Internal orchestration, which ensures profitability and compliance
Optimizing the payer experience
Payment is the first trusted interface between buyer and platform. In a B2B or B2C marketplace, as in e-commerce, the priorities are clear:
- Maximize the acceptance rate
- Offer the right payment methods (credit card payment, SEPA transfer, payment initiation, etc.) and payment methods (Apple Pay, Google Pay, one-click, etc.)
- Simplify checkout to limit cart abandonment
An effective payment module must be fast, seamless, and secure. The challenge is not to multiply the options, but to offer those adapted to the buyer profile: average order value, purchase frequency, target countries. An effective payment module must accelerate online conversion.
Orchestration of flows and payouts
On a marketplace, a single order can involve multiple sellers. The customer pays the platform, which then automatically redistributes the funds to each merchant’s bank account: this is called a reverse payment (or split payment).
Its configuration determines monetization: payout schedule, commission rules, additional costs (logistics, customer service). The platform must also be able to manage the onboarding of new merchants, security reserves (in case of refunds), disputes, and accounting management.
Since the funds belong to the sellers, not the platform, strict rules apply. It cannot manage its marketplace payment flows alone, but must rely on an authorized Payment Institution (also known as a Payment Service Provider – PSP).
Third-party collection: a strict regulatory framework
Article L314-1 of the French Monetary and Financial Code defines third-party collection as the receipt and processing of payment transactions intended to be transferred to a beneficiary. This applies to all marketplaces.
However, no platform is authorized to collect money from buyers on behalf of merchants without authorization. It must work with an authorized Payment Institution (PI).
Ignoring this framework risks sanctions from the ACPR (French Regulatory Authority for Payments), but also erodes the trust of merchants and payers.
What role does a Payment Institution play in the payment marketplace?
A Payment Institution is a company authorized by the ACPR to provide payment services: executing payment transactions (cards, bank transfers, direct debits, etc.), acquiring on behalf of merchants, and issuing payment instruments (payment cards, electronic money accounts, etc.).
These institutions are subject to strict compliance with the rules imposed by the regulator (segregation and protection of customer funds, anti-money laundering, regular reporting, etc.). In other words, it is a full-fledged profession where regulatory rigor is as important as technology.
Accepting payments on your marketplace: three options
The choice of model determines a platform’s technological and business trajectory.
Becoming an Agent for a Payment Institution
The agent acts in the name and on behalf of an authorized payment institution. It can distribute and use its payment solutions without having its own license. The agent must be registered with the ACPR (French Regulatory Authority for the Protection of Payments), train its teams, and apply the AML/CFT rules defined by the payment institution.
This model is suitable for marketplaces that want to quickly access the market while maintaining a compliant framework for collecting payments and proximity to their merchants.
Integrating a Marketplace-Ready PSP
Companies like Stripe or CentralPay offer an API and modules designed for marketplaces. The partner PSP manages compliance and flow orchestration themselves, without regulatory constraints for the platform.
This model is suitable for launching or developing an early-stage B2B or B2C marketplace, benefiting from the necessary functionalities (split, payouts, onboarding, KYC/KYB, etc.), but without an internal regulatory team.
PE Authorization
Some platforms choose to become Payment Institutions themselves to internalize their flow management. This model provides complete control, but requires a significant investment in capital, governance, and compliance.
This model is suitable for marketplaces with a robust back office and specialized teams capable of managing the entire payment and compliance system.
Marketplace payment isn’t just a technical issue. It’s the entire infrastructure that supports your business model, ensures the trust of online sellers, and secures growth.
Furthermore, McKinsey 2024² projections confirm the rise of services such as instant transfers, paving the way for real-time payouts to merchants, a reduction in the risk of fraud, and better cash flow management. The question is no longer “which PSP should I choose?” but “which payment model can support my growth over the next five years?”
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¹ Mirakl – State of Online Marketplace Adoption (2022)
² McKinsey – Global payments in 2024: Simpler interfaces, complex reality (2024)
