Yapstone, a leading online marketplace payment provider, today announces the launch of Transact, its new payment platform with expanded global capabilities, at Money 20/20, USA.
After nearly twenty years of hyper-focus on the property management and vacation rentals industries, the company is making a significant expansion into the sharing economy and other complex markets, which require customized payment solutions.
“The anatomy of an online marketplace varies,” says Sanjay Saraf, CTO of Yapstone. “It is no longer sufficient to provide a general payment API, when each industry has unique business processes and data elements needed for optimal performance. Our technology supports the organic business functions of individual marketplaces, so that sharing economy leaders can conduct business as their marketplace is designed, rather than around a general payment API.”
Yapstone’s Transact platform is built on a foundation of micro-services, which allows the company to nimbly configure tailored solutions, specific to sharing economy marketplaces. New features include the acceptance of global alternative payment methods (APMs), simplified micro-merchant onboarding and payouts, a set of industry-centric APIs, and a comprehensive developer portal.
The company’s refreshed focus and expanded capabilities have inspired a new corporate brand.
“Yapstone’s new look reflects our breadth of experience and commitment to serving all markets,” says Tom Villante, Co-Founder and CEO of Yapstone. “We craft our payment solutions to fit our partners, allowing complex markets to transact simply. Our new Transact platform was designed to be flexible for developers, yet robust and optimally secure.”
McKinsey estimates that 162 million people in the US and Europe are providers on sharing economy platforms and PwC predicts that revenues from the global sharing economy will reach $335 billion by 2025. Yapstone’s mission is to evolve and grow with these companies and consistently deliver powerful and secure payments.