Zürich/Bezons, 17 December 2019 - Worldline [Euronext: WLN], the European market leader in payment and transaction services and the escrow payment services provider CashSentinel have combined their expertise in order to provide a payment solution tailored to meet the complex requirements of Swiss and European online marketplaces.
Worldline and CashSentinel have joined forces to offer a payment solution that fits the requirements of a wide variety of online marketplaces including traditional online marketplaces for physical products, franchise systems, self-checkout solutions and smart city apps.
Marketplace operators will benefit from a top-tier service that enables participating merchants to offer a wide variety of payment methods which include not only card payments but additionally TWINT, iDEAL, Bancontact, Alipay and more.
Post-transaction, the solution of Worldline and CashSentinel ensures the secure flow of funds and the correct distribution to the various parties involved. The solution automates and simplifies payments between the marketplace and its merchants and reduces the administrative burden on all participants, enabling them to focus on their core business.
The combined offering is fully compliant with PSD2 (European Payment Service Directive) regulations.
CashSentinel is a leading escrow payment service provider and has broad knowledge in client onboarding, fund splitting of baskets involving multiple parties per transaction and processing associated money flows. The Fintech company has proven to be successful being the winner at Worldline's recent e-Payments Challenge 2019 for the category “Account splitting credit card transactions” for Messe Frankfurt.
Choosing the right payment solution is crucial for the success of any marketplace, as the customer journey must be secure and as smooth as possible, from the very start all the way through to the order and payment processes. It is important to ensure positive buying and selling experiences for customers and marketplaces providers alike.
Worldline, as leading acquirer and payment service provider (PSP), has extensive experience in servicing online merchants with its industry-leading card acceptance and PSP solution.
Sylvain Bertolus, CEO of CashSentinel, says: “The marketplace model is growing in Europe, while the regulatory context around money and data flows is becoming more complex. In this environment, it makes sense for marketplaces to look for turn-key, all-in-one payment solutions. The solution we have developed with Worldline enables marketplaces to benefit from a proven, dependable and compliant payment solution from day one; allowing them to focus on developing their marketplace. We are delighted to work with Worldline on this service and this collaboration combines our respective strengths in one solution, which significantly reduces time-to-market, while increasing product maturity at launch.”
Roger Niederer, Chief Market Officer Merchant Services at Worldline, says: “Worldline has been working with CashSentinel since 2017, when they participated in a Swiss Incubator and Accelerator program ran by SIX. Thanks to our relationship with CashSentinel we are able to expand our existing card-acceptance for marketplace with additional non-card-based payment solutions and also deliver integrated solutions to the growing numbers of marketplaces including an automated onboarding and reporting tool.”
Easy onboarding and reporting
For sellers, as important stakeholders in the marketplace ecosystem, it is easy to get onboarded into the marketplace environment by an automated onboarding system. Additionally, marketplace operators and sellers are provided with a reporting tool giving them instant access to their transactions at any time.
Worldline [Euronext: WLN] is the European leader in the payment and transactional services industry. With innovation at the core of its DNA, Worldline's core offerings include pan-European and domestic Commercial Acquiring for physical or online businesses, secured payment transaction processing for banks and financial institutions, as well as transactional services in e-Ticketing and for local and central public agencies. Thanks to a presence in 30+ countries, Worldline is the payment partner of choice for merchants, banks, public transport operators, government agencies and industrial companies, delivering cutting-edge digital services. Worldline's activities are organized around three axes: Merchant Services, Financial Services including equensWorldline and Mobility & e-Transactional Services. Worldline employs circa 11,000 people worldwide, with 2018 pro forma revenue of circa 2.2 billion euros.
CashSentinel designs and operates escrow and e-commerce payment solutions that enable trust between parties to online transactions. The company has gained experience in the automotive transaction space, working with blue-chip partners and clients such as AutoScout24 and Swissquote Bank in Switzerland, and Allianz, Société Générale and La Banque Postale in France.
En 2019, CashSentinel a initié sa diversification au-delà de l'industrie automobile en intégrant des clients tels que Tokenestate (tokenisation d'actifs) et maintenant Worldline (solutions de paiement pour places de marché).
In 2019 CashSentinel initiated its diversification beyond the automotive industry by onboarding clients such as Tokenestate (asset tokenization) and now Worldline (marketplaces payment services). Founded in Switzerland in 2012, the company has won numerous awards, such as the TOP 100 Swiss Startup award, Venture Kick and the Swisscom Startup Challenge. It graduated from SIX's F10 Incubation and Acceleration 2 program in 2017, and was cited in September 2018 as “one of the most interesting and exciting players in the Swiss Fintech Space” by Forbes.