Featured Feature: Split Settlements
In July, we launched Split Settlements, making it possible for customers to instantly split an online payment and settle to multiple accounts, anywhere in the world. This builds on our mission of helping businesses collect more revenue – through avoiding settlement delays, unlocking new business opportunities, and streamlining collection processes.
Our Split Settlements capability is available through a single API for both card and debit order payments, for both once-off and recurring payments. Merchants can split payments using percentages (for example, 10% of the payment value) or fixed amounts ($5 per payment), or a combination of both.
How Split Settlements can help
Businesses can select the split structure to one or more bank accounts, and:
- Optimise cash flow: Eliminate settlement delays by instantly splitting and settling with one or more accounts. Keep your suppliers and partners happy, while optimising your own cash flow.
- Eliminate reconciliation headaches: No more painful financial admin at the end of the billing cycle. All parties get their share instantly, with reduced error, making you a partner of choice.
- Unlock new business models: Launch and scale new platform revenue streams, through seamlessly splitting out commission, membership, affiliate, referral, or listing fees.
Who are Split Settlements for?
Any business that offers commissions, referral schemes, affiliate fees, or revenue share models can benefit from Split Settlements.
- Marketplaces and Platforms can easily collect commission fees, without manual billing or reconciliation.
- Franchises can seamlessly split revenue between the enterprise, franchisors, and franchisees, in multiple markets and currencies, with real-time payment visibility.
- Businesses with affiliate schemes can instantly pay affiliate or referral fees for leads through these programmes.
- Insurers can automatically split premium payments with brokerages and brokers, eliminating settlement delays.
- Resellers, wholesalers, and companies using agent distribution can instantly pay commission and any other fees, keeping critical partners happy.
How our clients are using Split Settlements
Multinational fitness franchise
Our client is a multinational fitness franchise with 5,000+ gyms across the world. They needed a solution that could reduce the need for manual reconciliations and multinational settlements. Revio’s Split Settlements enabled them to automatically split both recurring card and debit order payments, and settle to three different accounts: the headquarters, the franchisor, and the franchisee. The wow moment? When they learned we could settle to multiple accounts in different countries and currencies, with no manual intervention.
Our client, a pan-African insurer, launched an SME marketplace to help SME customers run and grow their businesses. The insurer needed a seamless way to collect commission fees across multiple merchants, without introducing administrative overhead. Split Settlements meant they could achieve this with just a single API integration.
Ready to get started? Sign up online or get in touch with one of our experts at firstname.lastname@example.org.