For Marketplaces and Ecommerce
What is the problem?
- For how long do your Customers remain at a “zero balance” rate, which does not allow them to buy company’s services?
- How long does it take on average to receive payments from your clients?
- How many of your Customers will not prolong the use of the company’s service because they just forget about it or they need to perform additional steps to pay?
- How many of your Customers will not make a purchase because of the limited time period? For example, time limited promo or extra purchase
What losses does it bring to the business?
SDK.finance has a solution, which allows marketplaces and ecommerce platforms to eliminate those problems.
- Customer’s balance system (e-wallet). It is a virtual Customer’s account. This solution allows adding into your product a user’s balance concept and topping up balance via payment gateway or gift card. User can keep the money in the balance for a long time or spend all or part of the money to buy goods and services at your marketplace.
- Gift cards (gift certificate or (UK) gift voucher or gift token). It is a restricted monetary equivalent that is issued by you as an issuer to be used as an alternative to a non-monetary gift. The recipient of the gift card can use it to top up his or her balance in your system or buy goods and services.
- Recurring payments. This solution allows charging your Customers balance automatically. They can forget to pay and lose the access to your services. SDK.finance offers a solution that does not require a customer additional action to pay.
How it works?
The logic of SDK.finance solution is similar to Amazon.
Let’s look at two examples below.
Part 1. Customer’s balance + Gift cards
Our current Amazon balance is $0.0:
We go to gift cards section and choose a gift card to buy. Please note, that the denomination is flexible. It can vary from $0,5 to $2,000:
SDK.finance offers gift cards issuing in different presentation options:
- Physical medium – a plastic card with an individual design
- Electronic medium – a code delivered by E-mail, Facebook or SMS.
- Electronic medium – via a special app for smart phones (iOS, Android, Windows Phone)
Select a gift card and type in some additional information to go to checkout. Please also note that you are able to select a gift card nominal or enter it by yourself:
Enter your e-mail or gift card receipt address to receive it, quality and other additional parameters. Click ‘Proceed to checkout’, where you enter your credit card details. Go to our mailbox and we see an email with bought gift card.
We have bought a $10,00 Amazon gift card. Now we should activate it in our account. Click ‘Redeem now’:
Apply it to our Amazon account:
Get finished screen with activated gift card:
Check our Amazon balance. It is $10,00 now:
Ok, we are ready to spend these money at Amazon. We select a product to buy:
We can see a screen that confirms that we made the purchase:
Check out our balance again. It is $6,38 now. We can spend it any other time.
This way is a great opportunity for marketplaces and ecommerce platforms to increase profit. There are many cases when a person needs to make a purchase quickly. And it is very convenient to always have the money on the balance.
Part 2. Recurring payments
For cards VISA/MasterCard/PayPal, SDK.finance has developed software for recurrent payments from your Client to your company when they reach certain limits.
- Client leaves cards VISA / MasterCard data at your company’s website
- Example 1: Pay $10 with the proviso that the balance has fallen below $2
- Example 2: The recurrent monthly payment for $10
- Example 3: Automatically pay the expense of the company if it is not more than $30
- It sets the conditions and the amount of payment.
Now debiting will take place automatically, and will not require a customer additional actions, including entering their payment card details (number, CVV, etc.) by means of “payment token”.
Let’s look at an example from Moz.com.
Our current Moz balance is 0. We have no active subscription.
We go to billing and subscription settings to choose a payment plan.
At first Moz offers us a free trial, but requires to enter payment details. It says that if we don’t cancel a subscription by 30 days, our card will be charged for first month of service automatically:
If we already have active subscription, we can change or cancel it. Go to billing settings again.
Moz says to us that this is a recurring subscription and we will be billed monthly unless we cancel it.
In this case, our Moz balance will be always positive. We will be able to use it without any trouble.
These two turnkey solutions for marketplaces and ecommerce platforms offer such advantages:
- Increasing profit and customers loyalty
- Customers will not forget about account prolong. Recurring payments do not require additional actions from customer’s side
- Keep the money in the balance for a long time
- Spend all or part of the money to buy goods and services at your marketplace. They will buy more and spend more money
PS Amazon.com & Moz.com are not clients of SDK.finance. Those were just examples for better understanding of technology.