The Challenge
CraftMarket, an online marketplace for handmade goods, struggled with vendor management, payment processing, and platform liability. They needed a comprehensive solution that could handle vendor verification, escrow services, and automated disbursements while ensuring platform security.
Our Solution
ThroPay implemented a marketplace-specific solution featuring:
- Automated vendor verification and onboarding
- Escrow services for transaction security
- Automated dispute resolution and chargeback handling
- Flexible vendor payout schedules and fee structures
- Real-time analytics and reporting dashboard
- Integration with existing marketplace platform
The Results
The solution delivered comprehensive improvements:
- Increased vendor onboarding by 300%
- Reduced platform liability claims by 85%
- Improved transaction volume by 250%
- Enhanced vendor satisfaction scores by 95%
- Streamlined dispute resolution process by 75%
