Vendasta has made it possible for its partners to make money while they sleep with a new merchant services integration with the fintech giant Stripe. This move branches Vendasta further out from its martech roots into the fast-growing fintech arena.
The merchant services platform allows Vendasta’s reseller partners — a range of players including digital agencies, media companies, MSPs, and others — to conduct an array of automated financial interactions with their small business customers.
Vendasta’s merchant services platform allows its partners to do the following:
- Issue invoices to request and collect payments for either partner products or those on Vendasta’s marketplace
- Accept online credit card payments via Vendasta Pay (by creating a Stripe connect account through Vendasta)
- Create a branded online store and allow SMBs to self-purchase their products.
Minimizing Partner Churn
Vendasta’s marketplaces chief told us partner feedback and churn management were two key motivators behind the decision to add merchant services.
“This was a top request from our partners. They can take payments and invoice clients in one place,” Ed O’Keefe EVP/GM of the Vendasta Marketplace, told Localogy Insider.
“They can curate best-of-breed solutions along with their own offerings, which helps amplify their authority in serving SMB clients. This is significantly improving our partners’ and their SMB clients’ experiences. This is a crowd favorite and adoption was at 10% of our total partner base at launch. We expect this to significantly reduce partner churn because we’re able to provide a true end-to-end journey.”
Marketplace Tops 200 Products
Vendasta’s marketplace is a platform for resellers to bring third-party solutions into the product mix they offered their end customers. The marketplace currently features more than 200 products.
Product categories include listings, reputation management, social media, SEO, websites, e-commerce, productivity solutions, and more. The products featured are from small, niche players up through to big names like Microsoft, GoDaddy, and Google. Known quantities in local search ranging from Boostability to Mono Solutions are also featured in the marketplace.