Online Payment Platform, the Netherlands payment service provider, has selected payments expert and licensed bank, Banking Circle, to enhance its marketplace offering.
Online Payment Platform is focused on providing a cost-effective and fast payment solution for over 170 marketplaces such as Nature.house and Marktplaats.nl from the Netherlands and eBay-Kleinanzeigen in Germany. Also, they are currently expanding into the UK and France. One of the big challenges that sellers using these marketplaces face is the speed of accounts settlement, with delays impacting on cashflow. Addressing this challenge, Online Payment Platform is using Banking Circle’s accounts in multiple currencies to gain access to various local clearing methods in just one solution. This helps Online Payment Platform to receive and make payments faster and cheaper as well as enhance internal processes. It is also using Banking Circle’s unique Virtual IBAN solution for accounts reconciliation.
As Maurice Jongmans, CEO, Online Payment Platform explained, the partnership with Banking Circle enables the PSP to offer an important added value to its marketplace customers. Anders la Cour, Chief Executive Officer of Banking Circle added: “We have built a solution that allows businesses like Online Payment Platform to give their marketplace customers access to transparent, local payments and collections across borders, without the need for a physical presence or a relationship with a correspondent bank in that region. And that means an increased speed of settlement as well as reduced cost.”
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