Online marketplace OnBuy has announced its partnership with payment processor WorldPay.
OnBuy, which is set to launch in November and has previously expressed a desire to rival Amazon, says that the partnership will “ensure that both sellers and customers using the site are fully protected by new fraud prevention and security benefits”.
The site is designed around allowing third-party vendors to sell through the site for a monthly fee, with current fees waived until the site’s launch.
One of the benefits of WorldPay, according to OnBuy in a press release, is the ability to provide a “high security check system that processes up to 200 different types of checks (depending on the country in which the transaction takes place) when processing a payment, reducing the risk of fraud substantially. These checks are carried out almost instantaneously, ensuring that users incur virtually no time delay.”
“OnBuy has already implemented a set of customer protection terms that guarantee purchases, but this partnership is the icing on the cake,” said Cas Paton, Managing Director of OnBuy.
“Bringing WorldPay on board helps ensure that our payment processes are secure and reliable and reassures customers that they have the highest level of protection when they purchase from us.”
OnBuy has often expressed that it is focused on avoiding criticisms American companies like Amazon have faced, by not avoiding UK taxes. It refers to itself as ‘The British Marketplace’.
“Many marketplaces have made a great deal of effort to hide several extra fees, which make it difficult for sellers to calculate their expected profit, but we’re now in a position to remedy that,” added Paton.
"Working with WorldPay only strengthens our confidence in revolutionising the UK marketplace and our hopes to aid the recovery of the UK economy.”