Revolutionizing online marketplaces: How embedded wallets reduce transaction fees
With Kiip, marketplaces can significantly reduce payment fees, simplify payment processing, enhance user engagement and loyalty, and open up new revenue streams.
Breaking free from outdated systems
Today's payment systems are relics of the past, riddled with intermediaries and unnecessary complexity. This archaic structure benefits a few at the expense of many, stifling innovation. Kiip's vision is to dismantle this framework, creating a streamlined, efficient, modern payment solution.
The Kiip solution: Embedded wallets
Kiip's embedded wallet solution can be seamlessly integrated into marketplaces. Its unique features allow users to store and transfer money within our partner's apps, creating a closed-loop or semi-closed-loop system. By eliminating the need for external processors, our solution significantly reduces transaction fees, enhances the user experience, elevates loyalty and offers businesses a potential new revenue stream.
Key benefits:
- Significant cost savings: With Kiip's embedded wallet solution, you can eliminate the need for external processors, reducing fees to a flat rate of 1% with a minimum of $0.10 per transaction. This translates into substantial savings for your marketplace.
- Seamless user experience: Fast, frictionless transactions within the app.
- Proven security: Kiip's embedded wallet solution is built on technology that already secures over $100 billion, ensuring top-notch safety for all transactions.
- Valuable data insights: Gain insights into user spending patterns for better service offerings.
Transformative impact: A real-world example
Imagine integrating Kiip with a marketplace like eBay. Users would load funds into their eBay wallets and make purchases directly within the platform. Payments would transfer from buyer to seller without needing traditional processors, significantly slashing fees. In the process, eBay could give out loyalty points for keeping money on eBay.
Before and after scenario:
- Before Kiip: eBay pays 3% to 6% in total fees on a transaction.
- After Kiip: eBay reduces transaction fees to 1% and the money stays in the eBay ecosystem with Kiip's embedded wallet.
This hypothetical scenario illustrates how Kiip's embedded wallet can transform transaction efficiency and cost-effectiveness, making the process quicker and more user-friendly.
Vision and mission
At Kiip, we aim to revolutionize payments by eliminating unnecessary intermediaries, reducing fees and setting new user loyalty and retention standards. We empower businesses to turn their payment systems into valuable assets, fostering deeper customer loyalty and enhancing the user experience. With Kiip, your business can thrive in the new era of online payments.
Join the movement
Be a part of the revolution. Embrace a future where payments are as modern as the technology that supports them. Integrate Kiip's embedded wallet solution to transform your marketplace, reduce costs and delight your users.
Contact us today for more information and to become a pilot partner in this transformative journey. Let's revolutionize the payment industry together.