App development · Mobile payments

User friendly payment system for marketplace app


January 15th, 2018

Hi everyone,

Background: We run a sharing economy app where people can offer or buy services. There is an in-app wallet where the user is able to transfer their funds to their bank accounts.

We have a problem with our current payment gateway. The onboarding process for our payment gateway (Stripe) is complicated and is not user friendly. Stripe requires our users to either submit their government issued ID or create an account with Stripe - and fill in a long tedious form.

We have researched different payment gateways and were unable to find one that suits our needs.

Preferably we would like to a setup where our users simply need to enter their name and bank details on our app and thus be able to transfer the in-app funds to their bank account.

Are there any of you who have experienced a similar problem and found a solution? Or could offer general guidance in regards to the problem explained above?

It may be noted: for our marketplace each payment should be split among multiple entities: the payment facilitator, the merchant, and, possibly, multiple affiliates.

Our ongoing goal is to reduce complexity for our users.

Thanks beforehand.

Dean Carroll abc

January 15th, 2018

Unfortunately you're unlikely to find a solution to these as the issues you're facing are forced onto payment providers under KYC/anti money laundering legislation.

Suhaib Banuri Entrepreneur @fintech startups Pakistan

January 17th, 2018

It is quite simple. You need underwritings from your customers who love your products on a unique Platform that has quite a number of presence of Positive reviews. The better you get rated, better will be ratings and Endorsements. The better would be sign ups from your customers.

Experienced Auditor of Sales, Services and Freelance Community.


January 23rd, 2018

I integrated Stripe for a marketplace and although its a lot of information for the person collecting funds, we found that they understand they need to provide this level of information to receive payouts. Also fwiw, the amount of information needed by Stripe depends on the volume they collect so most users won’t have an overwhelming form to get started.

Vishal Gaware I am hunting for an idea that can help next billion users use AI through their mobile phones.

January 15th, 2018

Unfortunately the long tedious procedure is must in order to create a secure payments application. If you opt of a simple one like just adding the account number and starting away with accepting and receiving payments is not allowable. You are dealing with money, and you need to do some verification checks in order to make your customers bank details. Yes the verification procedure is tedious, but you can make a dedicated payments app where the user needs to enter the details just once and then provide API to different applications which will use your dedicated payments service. Check the service for PayPal for example, in you can send and receive money using a username, this username is similar to the twitter handle where every user has its own unique handle.

Norman Chiflen CEO of Chiflen Systems

January 15th, 2018

I think the extra layers of complexity may be intentional to guarantee secure transactions and prevent fraudulent transactions but i agree we should streamline the process where possible.



Hemant Agarwal Co-founder @

January 23rd, 2018

You can have a look at MangoPay

Mo Tech startup

Last updated on January 16th, 2018



January 15th, 2018

Thanks for the answers.

KYC is exactly the problem that I am facing, requesting sensitive information from users is not ideal, especially at startup stage. I have used some established marketplace sites where I have been able to receive my earnings to my bank balance by simply logging in and entering my bank details and name, without submitting any ID or any other KYC related check.

This was a big company and I was wondering do they bypass KYC? or is it correct to assume that they have their own in-house accounts team that manually transfers the money?