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Payouts

Within the Marketplace solution, the payout concept is the transfer of funds to the Marketplace Operator and the Submerchants. Funds are transferred via bank transfer SEPA CT, which implies that all entities registered in the Marketplace (Marketplace Operator and Submerchants) must held bank accounts within the Single Euro Payments Area (SEPA).

The payout timing can be scheduled, on demand or a combination of the previous two. The payout scheduling request process is triggered by the Marketplace Operator via Split API and can be later rescheduled, when applicable. If the Marketplace Operator does not specify a payout date on the API request, the system will consider the payout date defined in SIBS Backoffice, at the Submerchant’s page/register.