PromisePay

Overview

PromisePay provides fully managed payments for online marketplaces and small business platforms. Up and running in a single day with no extra operational overheads or costs, PromisePay powers fast, flexible and frictionless payments so marketplaces and platforms can enable transactions, build trust, improve user experience, and drive revenue.

About

Today, over 50,000+ users from over 150 countries use PromisePay to transact on U.S. and Australian marketplaces. The company is headquartered in Melbourne, Australia with offices in San Francisco, CA, and St. Louis, MO. Kima Ventures, SixThirty, Mark Harbottle (99designs, Flippa, Sitepoint), Cultivation Capital, Rampersand, and Reinventure (Westpac Bank) have provided $2.5 million in VC funding.

Mission

We help the sharing, on-demand, and collaborative economy participants safely buy and sell things they love, want, and need. To deliver on this, PromisePay is dedicated to building the internet’s most powerful processing engine, game-changing the payments industry, and reinventing e-commerce across the planet.

Products & Features

PromisePay offers payment and identity products that allows marketplaces to grow revenue through transaction fees and referral opportunities, offer choice and convenience to users, and provide a seamless payments user experience. In addition, marketplaces can avoid hiring fraud and support teams to manage payments, build trust and safety between users, and mprove user stickiness and site traffic.

PromisePay handles risk, fraud, and chargeback protection, end user payments support, onsite seller onboarding, multiple payment types, customizable fees, dispute resolution and refunds, automated email and text notifications, invoices, receipts, and reporting, employ stringent security measures, and remain compliant with authorities in the U.S. and Australia.

PromisePay’s solution allows marketplaces to ditch an in-house payment solution, essentially outsourcing the entire process. Marketplaces can easily integrate features like dispute resolution, escrow, and advanced fraud detection.
- Fitz Tepper, TechCrunch

Backstory

Previously service providers, PromisePay’s founders deeply understood the problems buyers and sellers face when transacting online. Also at the time, the sharing, on-demand, and collaborative economies were really beginning to take shape and find momentum. The marketplaces supporting these communities also faced the same difficulties, yet were using adapted and reappropriated legacy payments technologies as there was no true solution built specifically for marketplaces and their unique needs. PromisePay was born in 2013.