Introduction

In today's dynamic e-commerce landscape, marketplaces and aggregator platforms face unique challenges when managing payments between multiple stakeholders. Whether you're running an online marketplace with numerous sellers, a taxi aggregation service connecting drivers with passengers, or an insurance platform working with multiple providers, the complexity of settling payments accurately and efficiently can be daunting.

PayU's Split Settlements feature offers a comprehensive solution to these challenges, empowering businesses to automate payment distributions while offering the same best-in-class payments experience.

What is PayU Split Settlements?

PayU Split Settlements is an advanced payment distribution system that enables businesses to automatically divide transaction amounts between multiple parties involved in a single transaction.

This powerful feature allows marketplace owners, aggregators, and multi-vendor platforms to efficiently manage revenue sharing, commission structures, and disbursements to various stakeholders without manual intervention. The system supports both real-time splitting during transactions and post-transaction splits, giving businesses the flexibility to implement the workflow that best suits their operational needs.

With PayU's robust API integration and user-friendly dashboard, merchants can seamlessly incorporate Split Settlements into their existing payments infrastructure.

Key Features and Benefits

1. Flexible Payment Distribution

PayU Split Settlements offers unparalleled flexibility in how payments are distributed:

• Multiple Split Methods: Divide payments using absolute amounts or percentage-based allocations.
• Real-Time and Post-Transaction Splits: Choose to split funds during the transaction or afterward.
• Customizable Commission Structures: Implement complex revenue-sharing models with ease.
• Automated Settlements and Reconciliation: Eliminate time-consuming manual payment settlements and reconciliations.

2. Improved Transparency and Stakeholder Satisfaction

Split Settlements creates a transparent ecosystem that benefits all participants:

• Clear Visibility: All parties can track their portion of transactions through their respective dashboards.
• Faster Disbursements: Accelerate payments to vendors and service providers.
• Detailed Reporting: Access comprehensive split transaction records.
• Refund Management: Support for complex refund scenarios involving multiple parties.

Industry Applications

PayU Split Settlements serves diverse industries with specific payment distribution needs:

E-Commerce Marketplaces

• Automatically split customer payments between the platform and multiple sellers while managing commissions, discounts, and taxes in a single transaction.

Travel Aggregators

• Split payments between hotels, airlines, and experience providers while retaining platform fees.

Insurance Aggregators

• Manage premium distributions between multiple insurance providers and the platform seamlessly.

TSPs/ERPs/SaaS Providers

• Handle payments for your clients and route them seamlessly.

Getting Started with Split Settlements

Implementing PayU Split Settlements is straightforward:

1. Account Setup: Register for a PayU merchant account and complete KYC requirements. For more information, refer to Register for a Merchant Account.
2. Feature Activation: Enable Split Settlements through the PayU dashboard. For more information, refer to Activate Split Settlements.
3. Sub-Account Configuration: Add and manage child merchants or sub-accounts. For more information, refer to the following:
   • Adding Sub-Accounts
   • Manage Sub-Accounts
4. API Integration: Choose between dashboard-based management or API integration. For more information, refer to Integration APIs for Split Settlements.
5. Testing: Validate your implementation in the PayU sandbox environment.
6. Go Live: Launch your integrated Split Settlements solution with confidence.