Tradera implemented a customized platform that included a combination of two unique PayPal products: Hyperwallet and Braintree. PayPal’s full-stack approach gives Tradera the payment flexibility and control to help streamline their operations and scale their business.
What began in 1999 as a project to trade jewelry has grown into a company with items changing ownership every three seconds. Tradera.com has now emerged as one of the leading e-commerce marketplaces in Sweden. Their site has more than 4 million weekly visits, over 2.5 million members, and millions of active listings at any given time. Shoppers around the world can choose from categories like fashion, interior design, tech, music, art, and collectibles. They’re able to purchase through auctions as well as at fixed price listings.
Though Tradera’s seller base is mostly Swedish, there are buyers from across Scandinavia and the European Economic Area. Marketplaces that act as an intermediary for buyers and sellers need to comply with PSD2 requirements and the enforcement of the 4th European Union Directive for Anti-Money Laundering. This was not a simple task for Tradera to undertake on their own.
Tradera implemented a customized platform that included the combination of two unique PayPal products: Hyperwallet and Braintree. Hyperwallet’s “Know Your Payee” Program is an identification verification system. It is specifically aligned with these regulatory requirements that involve the collection and verification of individual or business information. Hyperwallet’s Direct Solution is a remittance-based product, whereby payments are transferred directly to the seller’s designated payout option. Braintree allows Tradera to reach more sellers with a payments platform that delivers PayPal, bank account transfers, credit and debit cards, as well as local payment methods for multiple payout options and flexibility.
PayPal’s full stack approach gives Tradera the payment flexibility and control to help streamline their operations and scale their business. With a single Braintree API integration, Tradera now has the ability to connect and facilitate funding of payouts from their various acquirers and Payment Service Providers. They’re able to pay almost anyone across the globe and across a full range of payment methods. By removing friction and offering a seamless and secure experience, PayPal has made it fast and easy for customers to sell on the Tradera Marketplace.
42K Average Payout Transactions Monthly
$2M Average Payouts Monthly (USD)
533K New Accounts Added
What Hyperwallet delivers is freedom of choice for sellers. They can choose how they want to be paid from a variety of payment options. The control capabilities are crucial, giving us the ability to decide when to payout on a case-by-case basis.
Note: Results are based on internal PayPal data from January 2020 - September 2020. Results may not be typical and may vary substantially by business.
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