Marketplace Business Model & Payment Processing Description
1. Business Model
N PINOKYO TECHNOLOGY is a Malaysia-registered e-commerce marketplace and technology service provider.
Our platform enables independent third-party vendors to list and sell health, wellness and nutritional products directly to consumers.
Our company does not operate a multi-level marketing or direct-selling compensation plan.
We do not recruit distributors, operate downlines, pay recruitment commissions, or participate in the compensation plans of the brands listed by vendors.
2. Vendors
Products are listed by independent third-party vendors.
Vendors are responsible for ensuring that they are legally authorized to sell the products and brands they list on the platform.
For branded products, we intend to require vendors to provide appropriate evidence of their distributor/reseller status and, where applicable, evidence that they are permitted to sell through an online marketplace.
3. Products
The initial product categories are health, wellness and nutritional products.
The platform will not knowingly permit products that are prohibited by applicable law, the payment provider's acceptable-use policy, or the relevant brand's distribution rules.
We will also prohibit misleading, fraudulent or unsupported medical/health claims.
4. Role of Our Company
Our company provides:
Marketplace technology
Product listing services
Search and discovery
Shopping-cart and checkout technology
Order management
Customer communication
Payment facilitation through an approved payment provider
Marketplace administration
The individual vendor remains responsible for the products it sells, including product authenticity, product compliance, inventory, fulfilment, applicable product registrations and permitted product claims.
5. Revenue Model
Our company earns revenue through marketplace/service fees and/or commissions on completed transactions.
We do not earn commissions from recruitment or downline activity.
6. Payment Flow
We seek a marketplace payment solution that can:
Identify and onboard each vendor;
Conduct vendor KYC/KYB checks;
Process customer payments;
Record the transaction against the relevant vendor;
Deduct the platform's agreed marketplace/service fee; and
Settle the vendor's proceeds through the payment provider's approved settlement mechanism.
We do not intend to operate our own payment system or independently provide payment services.
7. Compliance Controls
Before allowing a vendor to transact, the platform intends to collect appropriate information including:
Identity/business information;
Bank-account information;
Distributor/reseller information;
Brand authorization evidence;
Product information;
Applicable product registration/compliance information; and
Other information required by the payment provider.
We will maintain the ability to suspend vendors and remove products that do not meet our marketplace requirements.
8. Geographic Scope
The company is registered in Malaysia.
The marketplace is initially intended to serve customers in Malaysia, Thailand, Indonesia, the Philippines, Vietnam and China, with international customers considered subject to applicable payment-provider and product restrictions.
