Split Payout Workflow
The Split Payout feature allows merchants to distribute collected funds from a single payment transaction to multiple beneficiaries, enabling more flexible and efficient payout management. This article will guide you through the Split Payout Workflow, from initiating a payment request to distributing the funds to the designated accounts.
Pay-In Transaction: Initiating the Payment Request
The Split Payout workflow begins with the merchant initiating a payment request through PayTabs. This standard process kicks off the transaction, ensuring the collection of funds from the customer.
Customizing the Payout Distribution
If the merchant requires the distribution of payouts to multiple bank accounts, this can be facilitated using the split payout parameters provided by PayTabs' APIs and will clarified inStep 2of this manual. Merchants can use these parameters to customize how the payment is divided, making it easier to cater to specific business models like marketplaces, commission-based services, or gig platforms.
This level of customization allows merchants to efficiently manage payout distribution according to their business needs.
Completing the Payment
Once the payment request has been initiated, the customer is prompted to enter their payment method details. This step is crucial for authenticating the payment, ensuring that the transaction is secure and authorized. The seamless integration of this process provides a smooth and efficient experience for both merchants and customers.
Payout: Distributing Funds to Beneficiaries
After the payment is completed and authorized, PayTabs initiates the payout phase. This involves distributing the collected funds from the Pay-In transaction to the designated beneficiaries’ accounts. With the split payout feature, the funds can be directed to multiple accounts, ensuring an accurate and reliable transfer to each recipient.
This step concludes the transaction, ensuring that each beneficiary receives the appropriate portion of the funds.
Summary
In the Split Payout Workflow, merchants have the ability to manage and distribute funds across multiple accounts efficiently. By utilizing PayTabs' Split Payout APIs, merchants can streamline the payout process, ensuring that all beneficiaries receive the correct amounts based on the configured split parameters.