The Marketplace Payment Solution provides a robust payment infrastructure for platform-based e-commerce websites. When an end user makes a payment with a card on the marketplace, the funds are initially directed to the iyzico account. Subsequently, iyzico deducts the commission payable by the platform's member seller from this amount and facilitates separate payments to the seller and the platform. This seamless payment flow ensures efficient financial transactions within platform-based e-commerce websites.
Moreover, the Marketplace product enables you to accept payments and conduct sales in multiple currencies, including Turkish Lira (TL). Additionally, it offers the flexibility to receive payments in foreign currencies using alternative payment methods from international sources.
What Can You Do with the Marketplace Product?
With the Marketplace product, you have the ability to seamlessly manage the cash flow between your sub-sellers, automate earnings and commission calculations, transfer payments to their iyzico accounts, and effortlessly generate a wide range of financial reports. This enables you to efficiently monitor the performance of your sub-sellers through iyzico merchant panel and optimize your business processes with utmost effectiveness.
Frequently Asked Questions
Who can benefit from the marketplace product?
The Marketplace product is specifically tailored for companies operating in the field of marketplaces or platform-based e-commerce. If your company falls into this category, whether you own a marketplace or manage a platform-based e-commerce website, you can leverage the benefits of this solution. To get started, simply reach out to us by sending a message through the "Contact Us" section, where you can provide details about your company and its business model. Our dedicated team will evaluate your request promptly and provide you with the necessary information and guidance.
Are my sellers required to be business owners?
It is not mandatory for sellers on your e-commerce marketplace platform to be business owners. Your platform can accommodate sub-members operating under three different business models:
Individual
Sole Proprietorship
Limited/Incorporated Company.
With the marketplace product, you can seamlessly process payments from sub-members operating under these business models.
Will my marketplace sellers be required to sign up with iyzico? If so, where should they apply?
Your marketplace sellers do not need to go through a separate registration process with iyzico. Since you have all the required information about your sellers, you can simply onboard them into the system.
Will my sellers incur additional charges such as commission fees, system access fees, or integration fees?
No, iyzico does not deduct any service fees separately from your sellers. There are no charges for system access or integration either.
Will the commission fee be deducted from the total transaction fee or will it be charged separately from the service fee requested from the seller?
iyzico commission fee is calculated based on the total transaction fee and is deducted from the share of the marketplace that has a sufficient balance.
How will the sellers receive their payments?
When registering your sellers in the system, it is necessary to provide iyzico with their IBAN information along with other relevant details. The transfer of funds occurs once the buyer completes the transaction. As a marketplace, while your commission earnings are transferred to you, the payments are also disbursed to the sub-member businesses (your sellers).
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