Overview: For software applications, especially those that serve a vertical base of client user organizations, one logical way to expanding market reach is to open up the application to countries outside your initial geographical focus. Often the logical choice is a near or adjoining country. In the case of applications that were born is the United States the choice is commonly Canada.
The role of the Payment Gateway for MarketPlace Payments
When evaluating technical payment solutions that address the primary needs of a MarketPlace Payment solution the integration to the Payment Gateway plays a vital role in the MarketPlace success. For platforms considering launching or monetizing their MarketPlace payments play a vital role in both the success [or failure] of the platform as well as a primary revenue driver6.
For the SaaS provider, the potential advantages of becoming a Payment Aggregator can be compelling. The Payment Aggregator model can seem very attractive, both for ease of onboarding and potential revenue generation.
Payment Aggregation, or Payment Facilitation (Payfac), allows a SaaS company to act as a master merchant for its users. The SaaS provider onboards its clients via a fairly non-intrusive application process, and this easy, fast onboarding makes it simple for the SaaS company’s users to begin accepting customer payments very quickly.