Split Payments
Optimize your platform by automating Split Payments
What are Split Payments?
Rise of platforms in ecommerce
Platforms are on the rise. Since 2014, the number of platforms has skyrocketed and the sector has an estimated annual turnover of 2 to 4 billion euros. Expectations are that within short term, 40% of all online transactions will be made via platforms. There are several online platforms: for products or services, for a broad audience or a specific niche, for b2b, b2c or c2c. Buckaroo offers a payment solution for b2c platforms called Split Payments.
Payment solution for platforms
One of the advantages of a platform is that the diversity and the available range of products or services is much wider than any individual supplier could ever offer. Multiple suppliers can sell their products or services from one central location, the platform. Thus, at the end of the funnel, there’s often a mixed-basket: different suppliers end up in one and the same shopping basket. The consumer pays the total amount of the basket at the platform's checkout. Payment to each individual supplier is made via split payments which is a Buckaroo payment solution.
NEW FEATURE
Now add AfterPay | Riverty as a payment option for your Split Payments platform checkout.
Platforms and Split Payments
Products and services from multiple suppliers can be checked out with one single payment. When it comes to making payments to multiple suppliers, Buckaroo offers the possibility of Split Payments. Platforms can indicate how the purchase amount should be split and which percentage is reserved for the platform itself.
Payment, laws and regulations
In general, platforms are not financial institutions and therefore cannot process payments. According to new PSD2 regulations of the Nederlandsche Bank (the Dutch central bank), it is also not allowed for platforms to receive payments and split these payments themselves amongst the third parties on the platform. As a Payment Service Provider, Buckaroo however does have the required licenses and certificates for the processing of platform payments.
Payment process: Split Payments
Payment via a platforms: how does it work?
What are the advantages of Split Payments via Buckaroo?
Customised advice
At Buckaroo, we employ experts in the field of platforms with Split Payments. Together, we can develop a platform strategy that is a perfect fit for your organization. Feel free to contact us for more details.
Inspiring cases
The ideal payment method differs per situation, product or service. Because of our wide range of payment methods and unique features, we at Buckaroo are always able to offer you an appropriate solution. Let the following cases inspire you.
