Two businessmen lining out a payment gateway for their online marketplace and other platforms of the platform economy.

Empowering the Platform Economy

aye4fin Managing Partner Thomas Tittelbach, presenting 5 important topics when creating payment gateways on a business level.
Thomas Tittelbach, Managing Partner at aye4fin gives you a detailed overview of how to approach building a payment gateway from a business perspective.

E-commerce is a growing market – but it’s not taking place entirely within single online shops. By far not. Online marketplace environments have cemented their presence all over the web, be they specialized in dealing with certain types of goods or all-in-one digital warehouses. In addition to retail, service platforms and even comparison portals have found their niches as well. In short: We live in the age of the platform economy – driven by smooth-flowing online payment solutions.

Yet sometimes the last part is more wishful thinking than reality. Payment processing requires a payment gateway designed for the specific transaction flows, which occur in marketplaces. And if you want to design such a well-functioning solution yourself, you can turn it into a business case on its own.

Of course, there are things to keep in mind, from a business perspective. In this second part of our Article Series on Payment Gateway Building, we give you an overview of those. Here are five topics to consider when building payment gateways for marketplace platforms.

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The trimplement co-founders Thijs Reus, Natallia Martchouk und Matthias Gall sitting together and discussing the foundation of their software company trimplement

How to Found a Software Company

Enclosed you will not find the 6 definite steps, instructing you how to found a successful software company.

Bummer, right?

But don’t stop reading, yet. We just wanted to get this out of the way, right at the start.

There are mandatory steps to take when founding and co-founding software companies – like registering the company in the first place. But there is no such thing as a secret recipe for entrepreneurial success on the software development market.

Which does not mean you could not cook up a healthy and successful software business if you gather some specific ingredients. In this article, we will share some entrepreneurial best practices with you. We will give you an overview of what steps we took and what lessons we learned when establishing the trimplement software development company in Germany. (And what better occasion than our 10th anniversary to roll out such a menu?)

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A picture of a waiting area at the FinTech Connect 2019 conference in London

FinTech Connect 2019 – Our Experiences

When you are browsing the net for a list of attractive fintech and banking locations around the globe, you will surely find London at the top end. It’s not only where Big Ben shakes its clapper but also where Big Tech and Big Finance shake hands. 

A few weeks ago, we set out to the capital of the UK to do very much the same, to network with the European fintech scene and present our software products and services. The occasion: The FinTech Connect 2019 conference.

To state it right away: The connection buildup proceeded well, but not without a few issues. Time to give FinTech Connect 2019 a run-down. 

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A stylized smartphone showing an different emoney business options, from governmental to payment applications

Building Your Own Emoney Online Business

Prospects and Challenges

In the modern economy, digital payment processes have become a key business factor. Electronic money is transferred across virtual wallets all over the globe at second intervals — or even quicker. Who can build and innovative emoney business quickly, can carve out a niche for themselves.

“Fast-pacedness, however, is not the only reason behind the rise of ewallets and payment software. Profitability also plays a huge role. According to statistics by McKinsey, shifting their customers from traditional offline to digital accounts can save an enterprise up to 90 percent in service costs. Consequently, mobile and online payment solutions are in high demand. In 2016 the Statista Digital Market Outlook predicted an increasing growth rate for the mobile payment sector. 63% within 5 years, to be exact.

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Our Experience at Money20/20 Europe 2017

End of June the balancr team had the pleasure of being in Copenhagen for Money20/20 Europe 2017. Organised for the second time, the 3-day fintech conference brought together over 4000 attendees and 200 companies from 70 countries. Making it the largest event focused on fintech in Europe — and probably the only event to have hairdressers and masseurs available for attendees.

We were excited to be attending, as this was our first time attending a Money20/20 event and also the first public event for showcasing balancr. We were looking forward to meeting lots of interesting people from the industry, getting feedback on balancr and also discovering what everyone else was working on.

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