Types of transaction in marketplaces or market networks

Delayed transaction

A delayed transaction is a transaction that should be blocked until the service or event that supports it is really accomplished and acquiesced by each party. For example, in the case of a simple 2 sided marketplace, the fund of the buyer must be held by the marketplace until he or she receives the product. This feature is the main concern of Escrow system but payment systems like Stripe and Mango include it. For securing one or more participant a marketplace could be obliged to implement delayed types of transactions.

Conditionally triggered transaction

These kinds of transactions which mainly take place in n sided marketplaces are conditioned with the happening of one or more events. For example, a transaction can be initiated in favor of participant A only if participant B and participant C have effectively done the services that linked them. Such a conditional transaction trigger will be a common financial payment feature as marketplaces are being n sided with services done by multiple parties and the global transaction amount shrunken into several blocks. Like reputation systems, these kinds of conditional transaction processors will be major features in future market networks. I think it is a good project for a talented transaction engineer. I say transaction engineer because it is a raising skill which is still almost unknown today but it will take a place of choice in the future global job market and more into marketplaces and market networks startups.

A transaction process is a core functionality of a marketplace or market network. This is only a simple introduction about this important function that will be complexified by the transformation of today's marketplaces which are onboarding more and more types of participant to their marketplace and including more complex services and tasks involving more hands and systems. Take the example on angellist and how it aggregated more and more types of participants. Transactions can be took as the raison d’etre of marketplaces because what would be a marketplace if each participant does nothing. Transaction is not only about money it’s more broad you can call it interaction if you want.

Transactions will raise conflict like THIS

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