The Challenge
ArtisanMarket, a thriving marketplace for handmade crafts and artisanal products, struggled with high payment processing costs and complex vendor payout structures. As their platform grew to serve thousands of artisans and hundreds of thousands of customers, they needed a more efficient payment system that could scale while maintaining profitability.
Our Solution
ThroPay implemented a comprehensive marketplace optimization platform:
- Intelligent Payment Routing: AI-powered processor selection based on cost and success rates
- Dynamic Fee Optimization: Real-time adjustment of processing fees based on transaction characteristics
- Automated Vendor Payouts: Flexible scheduling and multi-currency vendor payments
- Escrow Services: Secure holding and release of funds for custom orders
- Advanced Dispute Resolution: Automated handling of chargebacks and customer disputes
- Revenue Analytics: Real-time insights into marketplace performance and profitability
The Results
The optimized marketplace solution delivered exceptional financial results:
- Increased transaction volume by 300% through improved payment efficiency
- Reduced payment processing costs by 50% through intelligent routing
- Improved vendor payout speed from 7 days to 2 days
- Increased platform profitability by 120%
- Reduced chargeback rate by 65% with automated dispute resolution
- Expanded international vendor base by 250%
- Enhanced artisan satisfaction scores by 85%
