What is Marketplace Payment Solution?
Marketplace Payment Solution provides payment infrastructure for platform-based e-commerce sites. When the end-user who purchases service from the marketplace makes the payment with credit card, the money will be first transferred to iyzico’s account. iyzico then deducts the commission to be paid by the platform member seller and transfer the remaining amount to the seller and to the platform separately. This way, platform-based e-commerce sites have a hassle-free payment flow.
You can also accept foreign currencies as well as Turkish Liras and you can make sales with different currencies. Moreover, iyzico Get Paid Online allows you to receive payments from abroad with alternative payment methods.
Who can benefit from the Marketplace Payment Solution?
Firms with marketplace or platform-based e-commerce sites can benefit from the Marketplace Payment Solution. If you would like to take advantage of this solution, a representative of the firm needs to send us a message through Contact Us section describing the company and the business model. Following this, the relevant team will evaluate this demand and inform the representative accordingly.
Do my sellers need to have firms too? If not, will there be any information/documents required from my individual sellers?
Sellers who will join your e-commerce site which provides services as a marketplace are not obliged to have companies.
Sub-merchants of a marketplace can have three different business models:
v - Individual
- Sole trader
- Limited/Joint Stock Company
You can get payments for your sub-merchants with the above stated business models by using Marketplace Payment Solution.
Are my sellers on the marketplace required to be iyzico members? If so, how can they apply for membership?
Your sellers do not have to apply to iyzico system individually. Since you have their information, it will be enough that you register them in the system.
Will there be a technical process that my sellers need to complete after they are registered to the system (API - S Key etc.)?
The system attains a single value for each sub-merchant (seller) that is registered. In each transaction, such single value needs to be sent to iyzico by the marketplace for the relevant sub-merchant. You can view all the technical details on our integration document.
Will extra commissions, registration fee, integration charge, etc. be deducted from my sellers?
No, iyzico service charge won’t be separately reflected to your sellers. Moreover, there are no fees for system registration and integration.
Will iyzico Commission Fee be deducted from the total transaction amount or from the service value that I demand from the seller?
iyzico commission fee will be calculated according to total transaction fee and deducted from the share of the marketplace which has sufficient balance.
How will the sellers receive their payments?
IBAN information of the relevant sellers is among the information that needs to be sent to iyzico when registering your sellers in the system. The money transfer will take place following the completion of the transaction by the buyer. In this case, while as a marketplace you receive your commission profit, the sub-merchants (your sellers) receive their payments.
How will the pricing be?
Your sellers need to send an invoice to the buyer who purchased a product with regards to the total payment amount. Then, the commission invoice in accordance to the commission agreement between marketplace and seller, needs to be sent to the seller. Following this, iyzico will also send the commission invoice concerning the commission it deducts as service charge to the marketplace. Neither the marketplace nor your sellers need to make out any invoices to iyzico.
How can I enter the commission amounts that are decided between myself and my sellers to the system?
You are not obliged to enter commission information to the iyzico system for each seller. It is sufficient that the Marketplace to update iyzico on each payment transaction while keeping the commission information for itself.
Can I work with some sellers on a different commission rate?
Yes, thanks to the Marketplace Payment Solution, you can work with different commission rates for each of your sellers.
Can I define different payment periods for different sellers?
iyzico and the marketplace will have an agreement on the periods in which the payments will be transferred/distributed. Payments will transferred/distributed according to this agreement.
Is there an Escrow (Secure E-Commerce)?
Following the secure completion of the purchase after the buyer’s payment, Marketplace sends iyzico information for distribution of the amount. iyzico transfers the amount after the receipt of such information. If Marketplace doesn’t send this information to iyzico, the relevant amount will be held in the pool account of iyzico indefinitely.
Which details I can check on iyzico Control Panel?
The information that you can check by using the iyzico Control Panel is listed below:
- Transaction Details (It allows you to view all transactions breakdowns such as date, amount, bank, etc.)
- Validation Errors (You can view the errors that your buyers receive during transactions)
- Cancellations and Refunds
- Instalments and Commissions Management
- Money Transfer (You can view the forthcoming amounts to be paid to your account or amounts that were paid into your accounts previously)
- My Invoices
- User Management (You can manage the persons using your control panel)
- Suspicious Transactions
In addition to the summarized info above, you can check which information you have access to through setting up a Sandbox account.
Will shipment processes be tracked by you?
Shipment processes are not tracked by iyzico.
Will there be a commission fee deducted in refund transactions? If so, will I or my sellers pay the fees?
There are no commission fees for iyzico refund transactions.
Does it support the multiple shopping carts in which there are multiple sellers? How will the transactions take place?
Marketplace Payment Solution supports the multiple shopping cart structure made up of different sellers. Therefore, users on your platform can form shopping carts with products from different sellers and make their purchases.
Which currencies does the Merchant Payment Solution support?
- United States Dollar (USD)
- Euro (EUR)
- Great British Sterling (GBP)
- Russian Ruble (RUB)
- Swiss Franc (CHF)
- Norwegian Krone (NOK)
We are glad to help you with all of your questions and issues.
You can search for answers and solutions at our help center, or choose from the categories below to see sample questions and answers.
- Application Requirements
- Required Documents
- Filling out an Application
- Status of Application