Revio's split payments feature allows you to split an incoming payment between one or more bank accounts and a commission fee. This can be useful in many ways, for example:
You act as an aggregator where you manage payments for different entities in exchange for a commission.
You run a marketplace where different vendors provide services while you handle payments and collect a commission on each transaction.
Split payments require setting up one or more subaccounts (the bank accounts you want to split to). Then when collecting payment, you can specify how you would like to split the money. Any funds you direct to them will be settled into their account based on your settlement cycle.
Split payments is an advanced feature that is currently only available for select merchants. Please contact your Revio account manager to learn how you can setup split payments for your business.
Updated 6 months ago