How marketplaces leverage payments data

This article first appeared on pymnts.com in December, 2024.

Cindy Turner, chief product officer at Worldpay, spoke with PYMNTS about the challenges and opportunities facing CFOs and treasurers in this evolving landscape.

Turner emphasised that payments are no longer just about moving money — they’re a valuable source of data.

For marketplaces, each transaction tells a story. Rideshare services glean insights on location and user preferences, while travel platforms track the entire customer journey. This data fuels operational efficiency and informs strategic decision-making.

But managing this intricate ecosystem requires sophisticated technology. Turner highlighted the need for payment systems that not only process transactions but also provide structured data for reporting and reconciliation. CFOs and treasurers must navigate a complex web of compliance, customer satisfaction and cash flow optimisation.

The rise of digital wallets adds another layer of complexity. Turner distinguished between “staged” wallets like Apple Pay and those that sit in the flow of funds, such as PayPal. The latter introduces new rules for dispute management and fraud prevention, requiring robust systems to handle exceptions and “non-happy paths.”

Choosing where to sit in the flow of funds is a critical decision. Turner outlined a spectrum of options, from acting as the merchant of record to relying on third-party payment facilitators. Scaling organisations often aim to gradually assume more control as they grow, but must carefully weigh the regulatory burden and potential risks.

Turner stressed the importance of timely payments to service providers, minimising risk by pushing payouts closer to the delivery date. She also highlighted the need for seamless integration with developer-friendly systems while ensuring robust back-office functionality for efficient reporting and reconciliation.

Ultimately, marketplaces need a flexible and scalable payment infrastructure that can adapt to their unique needs. As payment providers evolve to meet these demands, the line between traditional processors and comprehensive financial service providers will continue to blur.

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