Cashfree rolls out Easy Split to automate commission payouts

Friday 25 June 2021 12:13 CET | News

Cashfree has launched Easy Split, an integrated marketplace payment management solution to automate commission payouts for online marketplaces and businesses.

According to BW Disrupt, the solution allows splitting incoming customer payments to multiple vendors/sellers, or bank accounts with the help of a powerful API integration. Besides, it supports online marketplaces and fintech services navigate payments by automating collections, adding and verifying vendors, splitting vendor payments by specifying commission structures, scheduling payouts and managing refunds for a seamless experience.

The initiative comes as the ecommerce industry had a drastic growth with the influx of online marketplaces. A major challenge for these online marketplaces is the manual work of onboarding and verifying vendors, splitting the payment with different vendors according to the correct commission structure, settling the amount to the sellers/vendors, and handling refunds for payments that have already been split. 

Consequently, a more powerful payment ecosystem that understands the entire payment flow is needed. Easy Split will help businesses integrate their own payment collection solution and automate splitting of payments to their sellers or service providers. Additionally, the solution can be used to automate the complex payment processes for a wide range of businesses, such as:

  • Edtech platforms: Online edtech platforms that offer courses with different professors/instructors can use Easy Split to collect payments from students and split it with the instructors after deducting a commission.

  • On-demand services: Services such as cab booking, flight booking, and food delivery can take bookings and automate the splitting of incoming customer payments to the respective service providers with the help of Easy Split.

  • Multi-branch outlets: Businesses that centrally manage payment collections for all their branches – an online beauty product store or a pizza delivery store, for instance – can use Easy Split to collect payment via website from all customers and route the incoming payments to their individual stores.

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Keywords: Cashfree, product launch, payout, marketplace, online payments
Categories: Payments & Commerce | Online Payments
Countries: World
This article is part of category

Payments & Commerce