Two businessmen lining out a payment gateway for their online marketplace and other platforms of the platform economy.

Payment Gateways: Empowering the Platform Economy

aye4fin Managing Partner Thomas Tittelbach, presenting 5 important topics when creating payment gateways on a business level.
Thomas Tittelbach, Managing Partner at aye4fin gives you a detailed overview of how to approach building a payment gateway from a business perspective.

E-commerce is a growing market – but it’s not taking place entirely within single online shops. By far not. Online marketplace environments have cemented their presence all over the web, be they specialized in dealing with certain types of goods or all-in-one digital warehouses. In addition to retail, service platforms and even comparison portals have found their niches as well. In short: We live in the age of the platform economy – driven by smooth-flowing online payment solutions.

Yet sometimes the last part is more wishful thinking than reality. Payment processing requires a payment gateway designed for the specific transaction flows, which occur in marketplaces. And if you want to design such a well-functioning solution yourself, you can turn it into a business case on its own.

Of course, there are things to keep in mind, from a business perspective. In this second part of our Article Series on Payment Gateway Building, we give you an overview of those. Here are five topics to consider when building payment gateways for marketplace platforms.

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A person holding a credit card facing an online marketplace, symbolizing online payment and the payment gateways in charge of the transfer

How to Build a Payment Gateway: Definitions and Central Questions

Digital platforms are the go-to spots for e-commerce – and terminals for countless payment transactions. Online marketplaces like Amazon or Alibaba present themselves as the popular top dogs in this area. But they only compose a fraction of the platform economy. 

Today’s online marketplace platforms offer goods, services, jobs, and business partners. And then, we’ve said nothing about comparison portals like Check24. They browse external platforms to find the best offers, acting as “meta marketplaces” of a kind. 

But whatever platform you use: The point will come when you will have to pay for what you have obtained. At this point, Payment Service Providers and Payment Gateways make their appearance. It’s their job to detect fraud and validate the purchasing agreement. And ultimately, to debit your account and move your money – in the virtual as well as the physical sphere.  

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