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Home»Fintech»Checkout.com turns to Shieldpay for for digital escrow
Fintech

Checkout.com turns to Shieldpay for for digital escrow

November 8, 2022Updated:November 8, 2022No Comments3 Mins Read
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Cion Digital names Sundar Nagarathnam COO
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Shieldpay, the market main fintech fixing complicated B2B funds, has right this moment introduced its partnership with Checkout.com, the worldwide funds platform, to help prospects that want extra than simply straight-through-processing.

This partnership will permit Checkout.com to leverage Shieldpay’s distinctive fee engine and digital escrow capabilities to handle the fee challenges prospects are going through round safety, belief and transparency in excessive worth transactions on-line.

Shieldpay’s digital escrow providing will permit Checkout.com prospects to carry funds in safeguarded accounts (that are PSR, Artwork. 23 compliant) till each purchaser and vendor are happy that the circumstances of the transaction have been met. Monies are then paid out of the account to verified retailers or {the marketplace} prospects. Along with this, Shieldpay can be in a position to assist marketplaces disburse funds to submerchants the place wanted – beforehand a problem within the course of.

Checkout.com and Shieldpay have been collaborating over the previous 12 months to service on-line market prospects and rising fintech firms to handle complicated funds. Collectively, they supply the fee stream for KodyPay, a fast-growing in-person digital fee acceptance firm. Checkout.com act because the acquirer, present a fee gateway facility to just accept funds in, and Shieldpay help with vendor verification and disbursement. The collaboration of those funds firms allow quick, secure and reliable transactions between retailers and prospects.

Following the preliminary successes of their providing to purchasers, equivalent to KodyPay, the funds firms have now formally partnered. Going ahead, Checkout.com and Shieldpay will collectively help the funds wants of excessive worth, B2B marketplaces {and professional} providers industries with the view to increase throughout their buyer bases.

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Right now’s announcement marks the beginning of a shared mission to empower on-line commerce by means of lowering the important thing transactional dangers to each consumers and sellers, in a bid to maneuver the digital funds trade ahead.

Daniel Dunne, Head of Partnerships at Shieldpay commented:

“We’re thrilled to formally announce our partnership with Checkout.com. We’re each on an analogous mission as funds innovators and the providers that our platforms supply to the market work in good concord. With these key drivers aligned, we’re trying ahead to the way forward for this partnership and rising collectively, and we are actually envisioning new alternatives to additional collaborate.”

Miyesa Hussain, Strategic Partnerships at Checkout.com commented “Along with Shieldpay, we’re bringing our retailers much more worth and suppleness for his or her B2B transactions. Shieldpay’s digital escrow know-how is really progressive and additional enhances the payout course of for our prospects. We’re excited to see the place this partnership takes us.”

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Checkout.com digital escrow Shieldpay turns
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