BoxPay’s Split Settlements feature enables businesses to distribute a single payment across multiple recipients, accounts, or payment methods in an automated and transparent manner. Whether you’re operating an e-commerce marketplace, handling insurance claim disbursements, or managing revenue-sharing agreements, BoxPay provides a seamless way to split transactions based on predefined rules.
How Split Settlements Work
When a transaction is processed through BoxPay, the total payment can be divided dynamically using:
- Fixed Amounts – Specific dollar values assigned to each recipient.
- Percentage-Based Splits – A proportion of the total transaction allocated to different parties.
BoxPay automatically handles fund distribution via underlying Payment Service Provider (PSP), ensuring that each party receives the correct amount without requiring manual intervention.
Use Cases
1. E-Commerce & Marketplaces
BoxPay allows platforms to split customer payments among multiple sellers, service providers, and platform fees. Example:
- Customer purchases a product for $100
- BoxPay automatically allocates:
- $90 to the seller
- $10 to the platform as commission
2. Insurance Claims & Reimbursements
Insurance providers can process claim payouts directly to multiple recipients. Example:
- Claim settlement of $2,000
- BoxPay automatically distributes:
- $1,500 to the hospital
- $500 to the policyholder
3. Real Estate Transactions
BoxPay enables automated settlements between property sellers, agents, and escrow services. Example:
- A property sale of $300,000
- BoxPay allocates:
- $270,000 to the seller
- $15,000 to the real estate agent
- $15,000 to the escrow company
4. Contractor & Gig Economy Payments
Businesses can streamline freelancer and contractor payments with BoxPay’s split settlements. Example:
- A $200 gig payment can be split as:
- $180 to the freelancer
- $20 platform fee
Configuring Split Settlements
To enable split settlements in BoxPay, businesses can configure split rules using:
- BoxPay API – Define custom split logic programmatically.
- BoxPay Dashboard – Set up fixed or percentage-based splits.
- Webhooks & Reporting – Receive real-time updates on split transactions.