SplitPay

What is this?

SplitPay is a Marketplace Solution by CitrusPay for hassle-free transaction settlements. It is a solution for merchants running a marketplace model with large number of sellers to payout to. SplitPay reduces the complexity in charging commissions from different sellers, releasing payment to the seller and settlement to the merchant’s bank account. It is a completely automated system which integrates seamlessly with your back-end engine, giving you full control on the transactions and payouts. You decide the timing of payout to the sellers and the commission to be charged without any hassle.

How does it help?

Flexibility in specifying fee/commission for each seller which is to be settled to the merchant. Splits a single transaction to multiple sellers and releases payments for a single transaction per seller. Other features include:

  • Full flexibility offered by CitrusPay APIs
  • Easy on-boarding of marketplace sellers
  • Multiparty payments for quicker routing
  • Maximum freedom to manage seller refunds and settlements having multiparty payments for quicker routing
  • Superior experience and complete control with dashboard and analytics to understand seller patterns

Case study of a merchant

  • You are running a social app for classified ads, which lets individuals advertise and sell things on your platform. A user can discover these products and may opt for a purchase. How do you facilitate an online payment between the two parties, while securing the interests of the buyer and seller?Increase the conversion rate by providing a superior experience and guaranteed service by integrating with Marketplace APIs. Take the payment from the buyer and hold the funds in Marketplace Escrow. Once the delivery has happened and the buyer is happy with the delivered goods, release the funds to the seller, or refund the money back to the buyer.
  • You are running an app for on-demand delivery service that connects consumers with local merchants. You accept the funds from the customer using credit cards but how do you consolidate and manage the funds to be paid to the local merchant shop? (yes, you could send the delivery guy with cash in hand to buy the stuff from local merchants)Release the payments as soon order is confirmed by the merchant, and push the refunds if any, to customer’s Citrus wallet. You can also charge a commission from merchants, which automatically gets deposited to your account as soon as you release the funds.

How does settlement happen?

Marketplace Settlement system is a standalone solution where CitrusPay holds the funds in an escrow account on behalf of the marketplace provider, and settles the funds to seller account post confirmation from the buyer.

  • CitrusPay takes the payment from the buyer/end consumer and holds the funds in CitrusPay’s Escrow bank account.
  • Once the delivery has happened and the buyer is happy with the delivered goods, Merchant calls the automated settlement APIs and CitrusPay releases the funds to the seller.
  • Merchant can also charge a commission from sellers, which CitrusPay settles with the merchant

Transaction Settlement by SplitPay

Steps to use this?

Merchant can control all the functioning via CitrusPay APIs which are flexible and easy to use allowing merchants to perform various functionalities without any hassle:


Code snippets

For the complete set of code snippets and other API details on SplitPay, please visit:

https://developers.citruspay.com/doc/integrations/

14 Comments

  • Raghav 18 Feb

    Hi Team,
    Kindly get in touch with more info on the same.
    We are running marketplace & would like to explore the possibilities.
    Thanks.

  • citruspay 18 Feb

    Hi Raghav,

    Prashant from our team will get in touch with you.

  • I need international payment gateway for my website, so can anybody can help me.
    My website is under construction…and I have less time for payment gateway.

  • Prashanth S 10 Nov

    Hello there, We are building a SAAS product where a marketplace type payments are required. Could someone help us on how to proceed further with this

    • citruspay 14 Nov

      Hi Prashanth S,

      Someone from the sales team will get in touch with you shortly.

  • ABHISHEK SHAH 26 Nov

    Hi plz get in touch with us asap for the marketplace solution

    • citruspay 29 Nov

      Hi Abhishek, someone our sales team will get in touch with you shortly.

  • naveen 05 Dec

    Please send me the documentaion about implementing splitpay in website. Please give me complete procudre. And please send me the full flow from buyer to seller.

  • Ratna 06 Dec

    Need Billing informatin regarding Split Pay.
    Kindly call us on +91-80- 4115-8135 (Extn. 130)

    • citruspay 16 Dec

      Sure, you get a call/email from our Sales team soon.

  • Balaji N V 07 Dec

    Hi Guys,
    We would like to experiment the citrus split pay with our app. We are working on an app that is similar to the second use case you have mentioned. Who should we get in touch in with in order to get an insight?

    Thanks
    Balaji N V

    • citruspay 14 Dec

      Hi Balaji N V, we’ve shared your details with the concerned person. Expect an e-mail very soon.

Comments are closed.