Split payment in 3 or 4 instalments with Oney is already very popular for both online and in-store purchases. While 60% of Europeans have already used split payments, and 1 in 4 believes that this service is a decisive factor in choosing a store*, it is now being extended to the marketplace.
This harmonisation of payment modes between channels is an essential condition for offering a smooth customer experience during the purchase. Merchants have a lot to gain from this innovation, even beyond customer satisfaction.
Pioneers have already implemented Oney’s split payment solution
Some marketplaces have taken a head start and have already implemented this payment solution. This is the case of mon-sejour-en-montagne.com, a marketplace launched by the ESF (Ecole du Ski Français) which offers the possibility of booking everything the visitor needs for their mountain vacation: accommodation, equipment rental, ski lift pass, ski lessons, transport, etc. Thanks to the Dalenys payment platform (PSP of the website), the marketplace was able to integrate Oney split payment and thus offer its customers a very popular payment method for large purchases. With this product enhancement, the ESF is improving its customer experience and at the same time making its mon-sejour-en-montagne.com platform more attractive for its sellers. Something to delight holidaymakers who will be able to adjust their budget for their summer hikes and during the high season for their ski trip.
UBALDI.com, e-commerce site for the sale of big-name brand home appliances, high tech, bedding and furniture at discount prices, seized the opportunity with Oney to harmonize the purchasing process by offering the 3-instalment bank card payment solution on its Marketplace, thus optimizing sales for all its partner sellers.
‘We are delighted to be able to offer split payments to all of our customers who buy products sold and shipped by our partner sellers thanks to Oney and Dalenys. It makes perfect sense to extend this payment method to our Marketplace which, launched less than 2 years ago, is constantly growing’. Antonio Parisi, Marketplace Business Unit Director at Ubaldi.
A smooth customer experience to improve conversion
The marketplace allows brands that markets their own products to enrich their offering, since it complements its own catalogue offering. By offering split payments, the merchant further enhances the customer experience. The consumer should be afforded the same payment modes whether their basket is composed of ‘single-seller’ (products sold directly by the brand) or ‘multi-seller’ (products from the marketplace) items. The purchasing journey is then optimised, which creates favourable conditions for customers to place orders.
Split payment is undoubtedly a key building block for increasing sales performance: specifically, in the event of payment failure linked to the credit card limit, the merchant can automatically adapt the payment process by switching to the Oney payment method. The consumer has a simple alternative to proceed to payment immediately and confirm their order. As for the marketplace, it automatically increases its conversion rate. In fact, 72% of users of the Oney 3- or 4-instalment solution believe that this service was the trigger for the purchase, and this payment method has an acceptance rate of 92%*. The marketplace receives payment within 48 hours, and Oney handles any unpaid bills. It can also configure the solution (3 or 4 instalments, without or with additional fees).
‘Split payments are becoming a real lever for marketplaces. It is aimed at all types of consumers, and is particularly suitable for large purchases, and therefore popular in certain sectors such as tourism, household appliances, furniture, etc. Beyond the benefit it brings in terms of budget flexibility for the consumer, the key to its success lies in the fluidity of the 100% paperless process: no application, no document to provide. It’s as easy as cash payment.’ Corinne Hochart, Managing Director of Oney France
The COVID lockdowns have highlighted the growing importance of marketplaces: the growth in the volume of business done on marketplaces has clearly accelerated in recent years; today they largely drive the growth of online sales in France and internationally.
All sectors are investing in this distribution model, whether they are retail players (BtoC), pure digital players, in particular platforms for connecting individuals (CtoC), or BtoB platforms. Marketplace operators must therefore be able to display all the payment methods that are relevant to their customers’ purchasing journeys. In this context, the payment modes as offered by Oney are key to developing brand preference and building customer loyalty.
Towards unified payment management for new merchant experiences
As sales on marketplaces surge, it becomes not only essential to harmonise the user experience, but also to unify back-office management for the marketplace operator. For the latter to fully control financial flows, payments from the marketplace and other sales channels must all be managed on a single platform. With the Dalenys unified payment platform, the merchant can thus have visibility for all transactions, whether they result from the sale of their e-commerce products, their marketplace, or even their stores, in their country and abroad. Payment is thus unified, and can facilitate the deployment of new omnichannel paths for merchants.
On this subject, read also: 5 ingredients for a successful marketplace in 2020
Do you have a marketplace project you would like to discuss with our experts? Discover our turnkey solution around a single payment platform. Contact us today! firstname.lastname@example.org
* According to a 2019 Oney/Opinion Way study