Simplifying tools make things easy and quick for businesses. Whether you are an aggregator business or single vendor, split payment transfer and settlements through effective APIs help you distribute payouts without excessive delays or intensive calculations.
Delivery business takes off quite immediately these days, thanks to delivery tech suite systems that enable online shopping from anywhere.
Apparently, an aggregator has a critical set of responsibilities to execute, which include:
- Managing vendors
- Managing delivery partners
- Revenue & sales
- Seller & rider payouts
- Advertising & marketing
- And more.
Splitting payments on the table or even through a mobile app is quite easy. However, in a business model where you have to make seller & rider payouts on a regular basis, it can’t be managed without the help of a tool.
In the absence of a split-payment tool, an aggregator may get inundated with heaps of tasks – directly or indirectly affecting the performance of the entire model.
Since accurate distribution of payouts or real-time settlement is an essential part of accounting, aggregators may find it difficult to deal with the resentment from other stakeholders if these issues aren’t properly addressed.
With the help of Split payment transfer and settlement feature in payment gateways, the above issues get resolved for good. Let’s find out more about the feature and APIs from various popular payment gateways.
1-Razorpay Route
Split & transfer payments with RazorPay Route promises to split incoming payments to individual accounts, seller payouts, handle money flow from marketplaces, and many more using APIs.
From managing end-to-end payment flow to ensuring robust payment security, it fulfills your business needs to split and transfer payments. On-demand services, marketplaces or multiple bank accounts – Route takes care of splitting payments.
2-Paytm Split Settlement
Paytm split settlement handles vendor or partner payouts seamlessly by following a few simple steps. From initiating split settlement API requests to processing transactions, this Paytm solution is ideal for stakeholders payout.
Business owners with multiple vendors can utilize this payment settlement solution and breathe easy with the money movement.
3-PayU Split Settlement
How to disburse payments and commissions on the go? PayU splitting solution has the right answer built for the marketplace to split payments.
As it allows to decide set payment split percentage, marketplace owners have easy payouts to vendors and partners. PayU promises strongly on world class security & 24×7 integration support.
4-Instamojo Marketplace API
Said to bring flexibility & control to marketplace owners, Instamojo Marketplace API solves real-life problems regarding split & disbursement of payments, charge commissions, customize payout, collect payment from customers, process full and partial refunds, and more.
Given its completely API driven approach to manage payments and settlements, Instamojo Marketplace can be a boon for aggregating businesses.
5-Stripe Connect
Whether payments for platforms or marketplaces, Stripe Connect is said to be an ideal solution to build and scale end-to-end payment experiences. Payment facilitation and global scaling features from Stripe enables easy tracking and reconciliation of payments.
In terms of security and compliance, Stripe has upheld values of safer payment environments by deploying screening programs and a unified stack of features.
Available API integrations make simple, easy and reliable payout transfers to vendors and partners for business owners managing on-demand services, marketplaces, etc. As a result, you can enjoy a great peace of mind while focusing on the business wholly instead of worrying about payouts to different stakeholders.
Experience the power of Cruzo’s Payment Gateway API Integrations for seamless split payment transfer and settlements. Sign up for free today, no credit card required, and no commitment. Start your free trial now: https://accounts.cruzotec.com/register
