Easy Split

One. Settlement of all the unsettled transactions are grouped together and sent as a single payout. We share the bank reference number for the transfers, that can be shared with the vendors for tracking purposes.

Vendors can be added manually from the dashboard. We also support automated addition through the API.

Refunded amount gets adjusted during the next settlement. It will be deducted from commission amount of vendors who received settlement on that transaction.

Up to 5 vendors can receive settlements on a single payment by users.

• Marketplace Aggregators
  Online businesses that sell multiple products through different vendors can now use Easy Split to manage the splitting of incoming customer payments with ease. Also, easily manage settlement cycle, deduct commission, and view real-time reports for these vendor payments using our Easy Split product dashboard.
• EdTech & Other Platform Businesses
  Online EdTech platforms that offer courses with different professors/instructors (Vendors) can use Easy Split to collect payments from students and split the amount with the instructors after deducting their charges.
• Franchise & Multi-Branch Outlets
  Businesses that centrally manage payment collections for all their branches, like an online beauty product store or a pizza delivery store, can now make use of Easy Split to collect payment via website from all customers and route the incoming payments to their individual stores.
• Investment or Insurance Marketplace
  Marketplaces where 100% order amount is settled to AMC or Insurer’s account. The settlement will be customised and completed on the same day, with additional AMC & NBFC level reconciliation. Easy split also facilitates instant and on-demand settlements.
• Educational Institutes
  Institutes managing multiple accounts for administration can use Easy Split to facilitate splitting student payments directly to all their business accounts by providing split. This will reduce reconciliation efforts to settle individual accounts like tutors, admin, hostel, stationary & mess accounts.
• E-Commerce
  E-commerce services having multiple sellers in a single order payment.
• Online Appointment Booking
  Online Appointment Booking for Doctor/Consultant and automate the splitting of incoming customer payments to the respective service providers with the help of Easy Split.

While adding vendors, if you have specified incorrectly vendor details or missed adding some information, you can modify it using the Edit Vendor feature on the product dashboard or use the Update Merchant Details API.

To edit the details of the vendor you have already added,

• Go to Payment Gateway Dashboard > Easy Split – Vendor.
• Click the ellipsis icon on the vendor you want to make changes to and select Edit Vendor.

Use the Batch Upload feature to add a large number of vendors at a time. Add all the required details in a single file as per the required format and upload the file. Download the sample file to know what details are required to be filled in the batch file.

You can define the settlement cycles right when you add the vendor. You can settle your vendors through the following settlement modes:

• Vendor Instant Settlement
• Vendor Standard Settlement
• Vendor On-Demand Settlement

To view the settlements, go to Payment Gateway Dashboard > Settlements > Vendor. Vendor settlement details such as date & time, settlement type, vendor ID, settlement ID, settlement status are displayed.

There are various reports that Octalas provides. These reports help you to reconcile transactions, view adjustments and settlements, analyse your business transactions, and much more. You can view these reports day-wise, week-wise or for a custom date range.

You can select the required report type from the drop-down list, configure filters, and search for a particular report using the search option. You also have the option to download or delete the reports.

Octalas Payments offers a wide range of reports such as:

• Vendor Recon Report
• Transaction Summary Report
• Refunds Report
• Vendor Split Settlement Report

2. Can I delay my settlements to vendors?

You can delay the vendor settlements by adding delays at different levels. To delay settlements to vendors, you should enable deferred settlements in your account. The Split API has to be called within the settlement cycle interval, else the entire transaction amount will be credited to you.

You can add delay at two levels:

• Order Level Delay
• Vendor Level Delay