Divided money transfer (transactions)

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Daniel Furman

May 04, 2017 16:14

Our comapny is developing an app which need to implement e-commerce. We are actively looking for a platform which supports money transfering.

Basically what we need is to transfer the money from a customer card to another bank account and charge 5% from this transcation.

For instance, customers purchases something for a $100

$100 - 5% = $95.

This $95 need to be transfered to a seller bank account, when the 5% fee ($5 from $100) needs to be transfered to our bank account.

 

Does your platform captabiliteis allow us to do it?

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  Permanently deleted user May 04, 2017 18:13 (Edited August 21, 2017 20:18)

  Hi Daniel,

  Thanks for your question! Happy to help here.

  Spreedly supports the ability to split a transaction based on a percentage or a fixed amount, as long as your gateway offers support for this functionality. For example, Stripe allows users to set an Application Fee that will automatically split part of the transaction into the platform's bank account while routing the rest to the seller's bank account.

  Braintree allows this with the service_fee_amount field as seen here.

  Digitzs also allows split payments - instructions for setting them up are in our Digitzs guide.

  If your payment gateway has support for splitting payments, but you don't see the specific fields for this process enabled on Spreedly, just drop us a note and let us know where we can find the documentation, and we'll work on adding support for you.

  If your payment gateway doesn't offer native support for splitting payments, you'll have to take a different approach. The most common way we see platforms charge their merchants is to bill them every month based on their transaction volume or establish a set fee for being on the platform. 

  Please let me know if you have any additional questions here!

  Best,

  Danae

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  John Cummings June 29, 2017 17:48 (Edited June 29, 2017 17:48)

  In case it helps someone else, instead of searching the webpages for each gateway, you can look for the "application_fee" using the List of Supported Gateways.

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  Permanently deleted user July 06, 2017 13:43

  Thanks for that #protip John!

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  Permanently deleted user August 21, 2017 20:20

  The original answer to this question has been updated to show we support split payments on both the Braintree and Digitzs gateways. As always, if you see a gateway we already support makes it possible to split payments, send us their documentation and we'll see if we can add it to our system. Thanks!

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