CashSentinel and Worldline expand payment methods for online marketplaces

CashSentinel is a Swiss fintech startup specialising in escrow and e-commerce payment solutions designed to enable trust between parties to online transactions. The startup has broad knowledge in client onboarding, fund splitting of baskets involving multiple parties per transaction and processing associated money flows.

Most recently, the startup won Worldline's e-Payments Challenge 2019 in the category “Account splitting credit card transactions”. Worldline, the European market leader in payment and transaction services and CashSentinel have now combined their expertise to provide a payment solution tailored to meet the complex requirements of Swiss and European online marketplaces including traditional online marketplaces for physical products, franchise systems, self-checkout solutions and smart city apps.

Marketplace operators will benefit from a top-tier service that enables participating merchants to offer a wide variety of payment methods, which include not only card payments but additionally TWINT, iDEAL, Bancontact, Alipay and more.

Post-transaction, the solution of Worldline and CashSentinel ensures the secure flow of funds and the correct distribution to the various parties involved. The solution automates and simplifies payments between the marketplace and its merchants and reduces the administrative burden on all participants, enabling them to focus on their core business. The combined offering is fully compliant with the PSD2 (European Payment Service Directive) regulations.

“The marketplace model is growing in Europe, while the regulatory context around money and data flows is becoming more complex. In this environment, it makes sense for marketplaces to look for turnkey, all-in-one payment solutions. The solution we have developed with Worldline enables marketplaces to benefit from a proven, dependable and compliant payment solution from day one, allowing them to focus on developing their marketplace, says Sylvain Bertolus, CEO of CashSentinel.

Partnership with OnveVisage in the pipeline
As part of its strategy to enhance the consumer experience, Worldline is also collaborating with OneVisage to develop the first Pay-with-your-face solution that uses 3D facial biometry and respects the users’ data privacy, giving them back the full control of their biometry unlike all other alternatives on the market. During the NRF show, Worldline will present this new face-recognition payment solution.

(Press release/ran)