Online marketplace OnBuy has signed an exclusive strategic partnership with payment processing firm WorldPay to ensure its customers and sellers are fully protected.
The organisation, which was unveiled in May and has heavy backing from system builder Centerprise, is hoping to rival Amazon and eBay when it officially launches in November.
It is targeting traders and business sellers across a wide range of product categories including DVDs, games, music, toys and crafts. However, the firm is also hoping IT vendors will set up outlets on the site.
Its latest partnership with WorldPay provides a high-security system that processes up to 200 types of checks and reduces the risk of fraud.
Cas Paton, managing director of OnBuy, said: “OnBuy has already implemented a set of customer protection terms that guarantee purchases, but this partnership is the icing on the cake. Bringing WorldPay on board helps ensure that our payment processes are secure and reliable and reassures customers that they have the highest level of protection when they purchase from us.”
Rupert Lowery, chief digital officer at WorldPay, added: “We are happy to be supporting an exciting project and wish OnBuy success at launch and beyond. We have worked closely with the team to ensure that the payments package is optimised to the needs of OnBuy’s sellers and customers and I am confident that this marks the start of a strong partnership.”
Paton concluded: “Many marketplaces have made a great deal of effort to hide several extra fees, which make it difficult for sellers to calculate their expected profit, but we are now in a position to remedy that. Working with WorldPay only strengthens our confidence in revolutionising the UK marketplace and our hopes to aid the recovery of the UK economy.”
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