August 17, 2020
Edenred Corporate Payment makes marketplaces safer and more flexible with Marjory
Marjory, a leader in marketplace services, will now offer Edenred Corporate Payment's innovative solutions of single- or multi-use virtual card to its customers. The objective is to help marketplaces secure their supplier payments through an integrated solution.
Marjory, key player of the marketplace business
Marketplaces, which connect buyers and sellers on a web platform, have become a growing phenomenon in recent years, fuelling the growth of e-commerce and even shifting B2B trade habits. Created in 2018 in France, Marjory simplifies the launch and growth of B2B and B2C marketplaces by facilitating the integration of new services (payment, KYC, logistics, marketing, etc.).
Corporates are increasingly resorting to these platforms to source and manage suppliers, as well as to purchase products and services. The more suppliers on a marketplace, the more payment methods there are.
Traditional bank cards not adapted to B2B
Companies usally use plastic cards emitted by their banks. This payment method, although frequently proposed on marketplaces, offers zero control on their usage. Moreover, it is weakly adapted to B2B payments: no transaction traceability, significant charges for payments in different currencies, high risk of fraud, etc.
Additionally, it can be complex to manage this payment method if the marketplace doesn’t allow for the easy creation of personalised individual accounts with associated payment rights.
Edenred Corporate Payment makes it possible for marketplace operators to offer a secure and flexible payment solution to their clients. Through a virtual card generated for a specific purchase (via a web web portal or an API) – the marketplace can prevent fraud risks and provide instant security for its payments. And as an added bonus, the solution greatly optimises account reconciliation: since each card is generated for an individual transaction, it can easily be given a unique reference, which then appears on the reports provided by Edenred Corporate Payment.
Thanks to the partnership between Marjory and Edenred Corporate Payment, operators can now give their clients access to these secure payment services through designated processes on the Marjory interface. This way, buyers are able to leverage the use of virtual cards for each transaction conducted on the platform.
"Edenred Corporate Payment will allow our marketplace operator clients, including e-procurement marketplaces, to simplify and automate all or parts of their payment processes, particularly when managing third-party services in the B2B market," explains Kamel Tansaout, Founder and CEO of Marjory.
