Ingenico Group (Euronext: FR0000125346 - ING), the global leader in seamless payment, today announced a new partnership with French retailer GO Sport to process payments for go-sport.com, the company’s new online marketplace.
Leveraging Ingenico’s payment solution for marketplaces and close integration with Mirakl, a leading marketplace platform provider, GO Sport was able to quickly build a future-proof marketplace. It already complies with the new Payment Service Directive (PSD2) which came into effect in January 2018. To meet GO Sport’s ambitious timelines, Ingenico worked closely with Decade, GO Sport’s system integrator, to provide them with financial reporting solutions easily connected to their financial management systems.
Online marketplaces such as GO Sport are expected to account for almost 40% of the global online retail market by 2020, according to a study by the eCommerce Foundation and Nyenrode Business University. The introduction of PSD2 will remove some of the exemptions that allowed online marketplaces to operate without being regulated or supervised while providing payment services. With Ingenico, GO Sport now has a future-proof solution and has boarded a significant number of different vendors. Furthermore, Ingenico’s large portfolio of payment methods means GO Sport can quickly expand internationally.
Online marketplaces are a big driver of eCommerce growth. It’s also a complex business model because of the intermediary role the marketplace plays and the changing regulatory environment,” said Gilles Brabant, Head of online payment Sales – France for Ingenico Group. “With our payment solution for marketplaces, GO Sport meets all the requirements for PSD2 compliance ahead of the implementation in 2018, and is ready for a next phase of international growth.”
When we decided to relaunch our marketplace, we defined a very strict timeline for completion with very strong requirements in terms of compliance. In Ingenico we found the right partner for us,” said Rachid Charki, e-commerce Director of GO Sport. “Ingenico’s integration with our Mirakl platform, their commitment to meeting our timelines and the completeness of their PSD2-compliant solution all contributed to our decision.”