Nomo provides what marketplaces need to scale internationally
Alternative payments enabler, Docomo Digital has announced the launch of Nomo, a payment platform designed for sharing economy platforms who want to optimise pay-outs for their vendors.
From safeguarding services and online know your customer (KYC) features to loyalty programmes for vendors, Nomo provides what marketplaces need to scale internationally by giving them access to a free wallet-to-wallet payment network developed for sharing economies.
By connecting with any traditional online payment solution, Nomo provides agility to handle international pay-outs, multi-currency wallet management and best-of-class financial reconciliations reports.
Hiroyuki Sato, CEO at Docomo Digital, said: “We believe that the selling experience is as important as the buying one which is why we created the first product specifically designed around the unique needs of sharing economy vendors and suppliers. The ability for vendors to spend their wallet’s balance without having to pay a fee should unlock new opportunities to this ecosystem by creating a close loop effect between participants. In brief, we designed Nomo as a particle accelerator for sharing economy stakeholders”
Operating on a subscription based REST API, Nomo integrates to marketplace transaction systems, allowing them to automate pay outs to their vendor’s wallets. Users can keep track of their funds and transactions using the Nomo mobile app, spend their balance, as well as receive tailored offers from partnering marketplaces.
Sato continued: “Technology can no longer work for just one group of people, it needs to benefit end users and businesses to be a success. We have designed Nomo to fulfil the needs of all sharing economy stakeholders, making the rapidly growing trend a fairer and safer place to transact.”