On October 11th Paybase is hosting a collaborative workshop and networking event for online marketplaces and gig/sharing economy platforms. You may be wondering why we decided to host such an event, and why we’re so excited about it. In this blog, we discuss the reasons behind our first collaborative workshop.
A change in commerce
In recent years there has been a shift in the way in which we purchase goods and services. We now not only pay merchants, but provide goods and services to each other, exchanging our possessions as well as renting out our time. In order to facilitate this, we use platforms which connect individuals and communities, acting as online marketplaces for a vast variety of services.
These ‘platform businesses’, ranging from Etsy and Asos to Uber and AirBnB, have skyrocketed in number over the past 5 years. They have provided the consumer with a far richer depth of choice when purchasing goods and services, and provided sellers and service providers with a simple way to earn money. Commentators have also noted the social and environmental benefits gained from encouraging people to share - some have gone so far as to say we are witnessing a generational shift in attitudes, valuing access to experiences over possession.
Creating something better
Paybase has always been supportive of the innovative nature of these businesses, but current payment options are holding them back. Platform businesses must choose between the operational headache of taking in all funds centrally, calculating their commission then making manual payouts to users; running the gauntlet of becoming licensed as an eMoney institution so they can operate payments how they wish; or partner with an existing rigid service which dictates how their payments will be processed.
Paybase was created to offer platform businesses something better. Our mission is to raise the bar of what payments can and should do, and we offer our clients a solution which is tailored to their needs. Our client may be a marketplace which wants to instantly reward social media influencers for every customer they direct to their site. Perhaps they want to charge a commission which is entirely related to the volume of sales a seller makes. If our client is a gig/sharing economy platform they may want to create a loyalty programme for its users based on spending patterns. Using Paybase, all of this, and much more, is possible.
Success through collaboration
However, whilst we are working hard every day to make sure platform businesses get to market and are able to build whatever they want to build, we recognise that it is not all about payments. We are hosting this event so that platform business decision makers can learn from industry experts as well as their peers, sharing problems and solutions relating to marketing their platform business, UX, and anything else.
On a daily basis we see the incredible things platform businesses are doing to improve our lives. Through working collaboratively, we can ensure that no good idea is left behind.
If you are interested in attending our event, please register by clicking the button below: