Checkout launches Integrated Platforms so Marketplaces and Payfacs can personalize payments

Electronic commerce does not stop transforming and with it the services they offer have to do it. That’s why, check out has taken a further step in the world of payments by launching its service Integrated Platformsa new solution for marketplaces and payment facilitators to connect and control each payment experience on their platform.

The continuous launch of hyper-directed vertical platforms that we are experiencing is leading us to a new era of competition in the marketplace. Sellers have a wide variety of options where to grow their business. VisaDirect discovered that the 95% of sellers of the marketplace sell on more than one platform, while 44% are evaluating which one to join next and 56% would switch to those with faster payment mechanisms.

The Checkout solution will allow the entire payment area to be customized to suit the needs of consumers. Integrated Platforms allows sellers to:

1. Flexible onboarding methods. Choose from pre-built onboarding forms or gain full control by creating your own user interface and onboarding sellers through our Accounts API. For example, we’ve seen some platforms shorten their time to market by using our dashboard onboarding forms, while others prefer to invest in creating an onboarding experience that is fully integrated with the platform user experience.
2. Dynamic form fields. Capture the right information the first time based on seller location and category. For example, we only need to capture four data points to compliantly onboard an individual seller in the UK: first and last name, business name, registered address, and date of birth.
3. Automated identity verification. From KYC checks to PEPs and sanctions, we combine 13+ databases into a single workflow to make fast and accurate seller approval decisions. For example, we’ve seen some sellers get approved to start accepting payments in less than a minute.
4. Instant data validation. Verify data instantly to minimize input errors while the seller is still engaged. For example, send a real-time error response if your company’s seller in France, whose representative must provide proof of identification, uploads an expired document that will delay due diligence approvals.
5. Retry scenarios. Not all verification failures mean rejecting the seller. To maximize conversion, you can retry minor failures by updating the required information and reactivating due diligence checks. Common reasons for failure are invalid personal or proxy details such as email, first name, last name, and date of birth. Expired documents are another common reason.