Introduction
Nuvei Marketplace Product is a comprehensive payment solution tailored for Marketplace Providers. It enables Marketplaces to concentrate on delivering optimal user experiences while Nuvei takes care of the following processes:
- Seller Onboarding: This step entails inputting store information into a designated “onboarding company account” within the Nuvei Know Your Customer (KYC) system for risk evaluation purposes. Once approved, a Nuvei Seller account is established for the store and linked to your primary Nuvei Seller account, which represents your Marketplace.
- Payment Processing: Handles and authorizes client payments through credit and debit cards, as well as alternative payment methods (APMs) for transactions involving multiple sellers in the marketplace.
- Payment Distribution and Settlement: Divides customer payments from orders involving multiple sellers among the marketplace sellers and oversees the payout settlements for each individual seller (store).
- Financial Management: Offers support for reconciling refunds, chargebacks, and other financial transactions between the marketplace, sellers, and customers.
- Billing and Funding: Produces and shares Marketplace Settlement reports and Seller Settlement reports, which include comprehensive billing and payout computations between the relevant parties.