Split payments is the partition of funds amongst the Marketplace Operator and Submerchants. Every split is fully customized by the Marketplace Operator, who is in charge of defining split rules, according to the terms negotiated with each Submerchant, and the fees associated with the transaction, when applicable.

The split request process is triggered by the Marketplace Operator via Split API. Splits can be triggered transaction by transaction, i.e. payment by payment, or in bulk, for example at the end of the day or the month.

There are two types of splits: purchase and refund. A split refund annuls the split amount to be transferred, if the payout has not yet been processed.

The provisioning and risk of the escrow account is the responsibility of the Marketplace Operator. In order to execute the respective transfers, the account must always be provisioned, and it cannot have negative values.

If the Marketplace Operator does not specify split purchase rules on the API request, the system will consider the rates defined in SIBS Backoffice, at the Submerchant’s page/register:

 

• Fixed comission in EUR
• Variable commission in %
• Minimum “Cap”
• Maximum “Cap”