Lausanne / Zürich - November 17th, 2022 - Having decided to transform the Zur Rose Shop (www.zurrose-shop.ch) into a marketplace, ZRMB Marketplace AG, the joint-venture between Zur Rose Suisse AG and Medbase AG (a Migros subsidiary) in charge of the webshop, consulted the marketplace payment specialist CashSentinel for the marketplace payment solution. This transformation has been completed within just a few months, with the webshop converting 100% of its operation to a new platform on March 1st, 2022 and integrating selected additional sellers in early October.
In the last few years, CashSentinel developed new solutions and partnerships to address a growing demand for marketplace payment solutions. Building on its experience in escrow solutions, the company partnered with industry leaders such as Byjuno, Datatrans and Worldline, in order to easily integrate with providers already in use by its target audience.
CashSentinel's marketplace service covers merchant onboarding and compliance checks, acquirers inflow reception and accounting, escrowing, and merchant settlement services. This solution optimizes and simplifies the transaction processes, enabling the marketplace to easily offer payment options from various acquirers to its buyers, while ensuring the correct routing of funds to various sellers selected for the marketplace.
The main mission of ZRMB Marketplace is to develop and exploit the leading digital shopping destination for prescripition-free health-related products in Switzerland. The previous collaboration between ZRMB and CashSentinel provided the solid base to timely design a tailored solution for ZRMB within a very short time. ZRMB had unique requirements such as the possibility to offer consumer payment options from Buy-Now-Pay-Later provider Byjuno, as well as Promotional codes (coupons), in addition to traditional payment means such as Credit Cards and TWINT. As the go-live was a clean departure from the previous non-marketplace model, the entirety of the webshop sales were smoothly transferred to the marketplace solution offered by CashSentinel from the very first day.
Birgit Samson, ZRMB Marketplace CEO, says: “Payments is one of the most complex features on a marketplace. With CashSentinel, we found an experienced and reliable partner who supported us to establish the right payment solution for our Zur Rose Shop. We could build on the already existing and well working CashSentinel marketplace solution. We highly appreciate working with the CashSentinel team. In addition to their professionalism and solution orientation, we also value their hands-on mentality.“
Sylvain Bertolus, CashSentinel CEO, added: “Over the years, we have specialized in enabling Marketplace models for our clients, striving to make it as easy as possible for them, so that they can focus on their business objectives. The fluid collaboration allowed us to rapidly agree on the launch scope and timeline. Working towards the go-live objective with the ZRMB Marketplace team and the other partners involved was a real pleasure. We were impressed by the drive and focus of the ZRMB Marketplace team, and we are delighted to accompany them further in their marketplace journey. We also look forward to building on this successful experience to enable more players to consider a transition toward marketplace models.“
ZRMB Marketplace AG was founded in 2020 as a joint venture between Zur Rose, Europe's leading online pharmacy and the Migros subsidiary Medbase, the largest ambulant medical service provider in Switzerland. ZRMB's mission is to develop and operate Switzerland's leading digital health marketplace, the Zur Rose Shop, with a comprehensive range of prescription-free health-related products and services from selected professional partners.
CashSentinel designs and operates MyPortal, a digital contracting, escrowing, splitting, and payout solution for Swiss and European marketplaces. It also operates white-label payment processing solutions for other financial service providers. CashSentinel handles hundreds of millions of payment flows every year for its clients, with a >2x year on year growth rate. CashSentinel clients include CarForYou (Swiss Marketplace Group), Datatrans, Frau Gerold's Garten, Manor, Micas Garten, Thunes (ex-Limonetik), Worldline (ex-SIX Payment Services), Zurich Street Food Festival, and ZRMB Marketplace.
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