Use a Split Account

Using a Split Account involves a series of steps to efficiently manage funds and transactions between your platform and its partners.

Onboard a New Profile to Your Platform: Start by adding a new partner profile to your platform.
Create a New Wallet Linked to the Partner Profile: Set up a dedicated wallet for the new partner within the Split Account system.
Receive Funds into Your Platform Wallet: All incoming funds from transactions are initially deposited into your platform's default wallet.
Split the Funds Between the Platform Wallet and the Partner's Wallet: Use the predefined rules to automatically divide the funds between the platform wallet and the partner's wallet.
Make Payouts from the Partner's Wallet to Their Bank Accounts: Disburse the funds from the partner's wallet to their respective bank accounts as scheduled.
Take Your Platform/Marketplace Commission to Your Operational IBAN Account: Transfer your platform's commission from the default wallet to your operational IBAN account.