We started from researching checkout process best practices and referenced a few marketplace sites: Airbnb, Dog Vacay etc.
Most service marketplaces involve booking request confirmation by service providers prior to final booking confirmation.
But we didn't want to make it a 2-step process requiring customers to come back to the site to provide payment info. Therefore on our site we ask for payment method and billing info upfront, and make it clear that the customer will only be charged if photographer accepts the request.
In addition, our designer's initial design involved multi-page design. We decided to consolidate into one page to streamline payout process. Here is a checkout work flow chart summarizing the payout process.
Customer Checkout

Here is what the customer receipt looks like:

We landed at below design:
