PayUbiz, a
leading payment gateway solution provider used by over 80 out of the top 100 e-commerce
companies in India, has launched ‘SplitSettle’, a first-of-its-kind payment
settlement solution for online marketplaces. The new feature will allow
marketplaces to disburse payments to multiple sellers by splitting a single
transaction collected from a customer to settle all entities involved.
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| Image for representational purpose only |
Aimed
at helping marketplace businesses streamline the payment settlement process
with sellers, the move heralds a paradigm shift in the way the payment
settlement process between the seller and marketplace is currently approached
in India. Also, it provides smart analytics to help marketplaces garner deep
insights on the data.
Speaking
on the launch, Mr. Rahul Kothari,
Head of Business, PayUbiz, said, “The payments infrastructure currently
being leveraged for settlements between marketplace and sellers in India is
extremely disjointed and time-consuming. The ‘SplitSettle’ feature has been
launched as a first-of-its-kind initiative to eliminate this particular gap. By
streamlining and optimising the seller-marketplace settlement process, we are
confident that we will add much value to the online businesses.”
PayUbiz’
‘SplitSettle’ provides a centralized dashboard for online marketplaces to grant
full control to process refunds and payouts. Moreover, the feature also
provides sellers with the ability to easily track their transactions and
settlements.Leveraging
the cutting edge technology, PayUbiz’s ‘SplitSettle’ can be implemented across
industries such as e-commerce, education, healthcare, food tech, real estate,
fashion etc.
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