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Corporate News

Smart2Pay launches PSD2 compliant online marketplace solution

Smart2PayTM, the global payments company offering the largest coverage of online alternative payment solutions, is proud to announce the launch of its marketplace-focused solution, which is fully compliant with the PSD2 regulatory requirements.

Smart2PayTM's solution for marketplace platforms is designed to help EU ecommerce marketplaces run their business without worrying about the associated regulatory requirements from the new PSD2 directive which have come into force beginning 2018.

Smart2PayTM’s solution has been designed to seamlessly integrate with Mirakl’s e-marketplace model-focused products and allows for a fully customizable marketplace onboarding process to the marketplaces Merchants.

Likewise, by implementing Smart2PayTM’s solution, online marketplaces are no longer required to become licensed payment service providers. Instead, businesses can save time and focus on running and extending their business globally, all the while knowing that a licensed payment institution is handling their payments in a fully compliant and secure manner.

The impact of PSD2 on local and international marketplaces can already be seen, calling for marketplaces to reevaluate and rethink their business model in order to be sure they are compliant with the new regulations.

Under the PSD2 regulatory climate, marketplaces have to either obtain authorization as a Payment Institution (PI), electronic money institution (EMI) or to partner with an already authorized and compliant Payment Institution.

Stefan Iancu, CTO of Smart2PayTM: "Smart2PayTM comes to the help of marketplaces around the world, offering them the right payments partner that will handle all the regulatory burden of PSD2 directive for them. We are offering a quick, reliable and secure solution for marketplaces to comply with PSD2 regulations, enabling them to focus on and enhance efficiency in running their business worldwide."

About Smart2PayTM

Smart2PayTM offers a single API for all payment services to international Merchants, covering credit card and local payment options throughout the world! By using Smart2PayTM, you will be offering the preferred local method of payment to your global Customers, thus significantly boosting your sales!