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PayU launches payment splitting solution for online marketplaces

Our Digital Payments coverage is brought you by Chillr: India’s 1st multi-Bank instant mobile payment app enabling fund transfers to anyone in your phonebook. Payment gateway solutions company PayU, has launched SplitSttle, a payment settlement solution for online marketplaces, which will allow them to split payments collected from customers, to multiple sellers in a single transaction. The solution will also provide analytics, a dashboard where refunds and payouts will be visible, along with the transactions and settlements. PayU states that SplitSettle can be used by ecommerce, education, healthcare, fashion and real estate among other industries. The new solution looks like the Splitwise app (available on both Android and iOS) for B2B. Splitwise basically lets users add and split multiple bills with multiple groups, and simplifying debts and IOUs among a group or between two individuals. Like it, there are multiple apps available in the Play Store. Citrus' SplitPay: Last month, payment company Citrus also launched SplitPay, an automated marketplace payment solution which would let merchants charge commissions for different sellers, release and settle payments to the merchants’ bank accounts. This integrated with the merchant’s backend engine to let them manage transactions and payouts. SplitPay’s dashboard offers analytics and multiple payments for refunds and settlements. The company said that the solution was implemented by 7 merchants. PayU’s one tap technology: Last month, PayU Biz launched a new technology which would allow users to make payments via a single tap and still be compliant with the Reserve Bank of India’s regulation of two-factor authentication for…

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I'm a MediaNama alumna from 2015-16 (remember TinyOwl?) now back to cover e-services like food and grocery delivery, app based transport and policies, platforms and media in India.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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