Worldline and OPP Launch European Embedded Payments Partnership
Payments companies Worldline and OPP introduced an embedded payments solution for customers in Europe.
The solution melds Worldline’s acquiring, acceptance expertise and point-of-sale capabilities with OPP’s specialized payment technology, letting platforms and marketplaces offer features like split payments, advanced escrow and mediation handling, the companies said in a Wednesday (Oct. 9) news release.
“Embedded Payments is designed to meet the diverse needs of these platforms, providing a complete, turnkey solution that not only helps their users sign up, sell and get paid fast, but also manage this across multiple currencies,” the release said. “It supports all relevant payment methods and offers unparalleled local support capabilities, helping businesses navigate the complexities of serving their users across markets.”
The embedded payments solution will roll out first in European Union countries, and there are plans to expand it into the United Kingdom and Switzerland, according to the release. The companies eventually plan to add services such as tap-on-mobile.
The new offering comes as embedded payments show the potential to transform the B2B space.
“With more and more companies looking to streamline their operations and enhance the customer experience, embedded payments powered by credentials and tokens are emerging as a key innovation in creating frictionless transactions between B2B trading partners,” PYMNTS wrote last month. “By embedding payments into the core of their digital infrastructure, businesses can create a seamless, end-to-end experience that supports not just payments, but all aspects of the B2B relationship — improving efficiency, security and collaboration across the board.”
As businesses look for more efficient ways to manage payments and working capital, embedded finance is emerging in B2B commerce.
Alan Koenigsberg, senior vice president and global head of large, middle market, industry verticals and working capital solutions at Visa, told PYMNTS in an interview posted in July that while embedded finance has long been a part of consumer eCommerce, it is now gaining momentum in the B2B space.
However, he added that observers may not necessarily see a “hockey stick” curve of adoption.
“We’re likely to see larger firms take up the embedded finance mantle, and smaller enterprises will follow suit,” he said at the time.
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