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Increasing Revenue Streams: How Fondy’s Split Payments and Payouts Drive Growth

kokou adzo

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Fondy’s Flow Payments provide a comprehensive financial management solution, specifically built for marketplaces and platforms to facilitate the seamless movement of money. Fondy has a unified platform that lets businesses control their money flow with simplicity and affordability. 

Designed to empower businesses with Split Payments—an innovative and hassle-free method of splitting payments between merchants, partners, consumers, etc. Fondy automates the whole process to reduce delays, eliminate errors, and boost customer/user experience.

In this article, we will explain how Fondy’s Split Payments improve the growth of a business. We will discuss the benefits of the service and how automation makes payment flows seamless. We will share how easy it is to integrate the Flow Payments service for flawless money management.

Benefits of Split Payments

Enhanced Customer Experience

Split Payments make the whole payment and payout process flexible for businesses. Even though the payments or splits are complex in nature, this innovative method gives businesses complete flexibility on how and what amount to charge as commissions and fees. They also have the choice to schedule split payments and timeframes to manage cash flow and run a sustainable business.

Whether it be businesses, platforms, partners, or anyone, it gives complete freedom and flexibility with the best customisable commission models and fee structures. Businesses can split payment among customers and partners, and there are flexible and international payment methods to make the process smoother.

Split Payments allow multiple payment processes. It can split payments across multiple accounts, whether it be your account or between partners and suppliers. There is no need for multiple transactions as it completes the entire split process in a single checkout. It eliminates the complexity and makes the process simple and flexible.

Customers get a clear and transparent breakdown of the splits at the time of checkout. It gives them a clear idea of the individual seller’s contributions, which builds trust and enhances credibility.

All these features increase partner and client satisfaction. The flexibility, transparency, and ease of use boost the growth of the business.

Business Partnership and Affiliate Management

In online transactions, one of the biggest challenges for businesses is to split payments between the partners, affiliates, and multiple stakeholders. 

From the customer’s end or the person buying multiple products, it is just one transaction or payment. However, the business has to initiate the split payment and send the due share of the revenue to the sellers, merchants, etc. 

It has to divide the revenue among partners and also deduct its own fee or commission. And process the payments to the partner’s account, depending on the business model, without any delays or errors in calculations.

Fondy’s Split Payments can handle this complex revenue split online. It directly collects the funds from the buyer or customer and then sends the share to the partners after deducting its own fee. Even if there are dozens of products from multiple partners in the cart, all of them get their due share or payout within the timeframe without the hassle.

Businesses also offer affiliate programs, which require tracking successful purchases through affiliates and transferring their due split in a timely manner. Split Payments make affiliate management for businesses easier. Once the product is purchased, the revenue is automatically shared with the right affiliate.

Incorporating Split Payments in the business helps keep partners and affiliates happy. It facilitates them with a flexible payout method, instant processing, and transparency. These features translate to the growth of the business.

Advantages of Automated Payouts with Fondy Flow

Streamline Operations

Manual payouts are a headache. When businesses need to share the revenue with merchants, sellers, and partners, they need a large workforce. They have to deal with invoices and other paperwork, and administrative workers have a high workload. That said, they need to employ more people, which increases the transaction expense.

Due to massive payouts, the payments can be delayed. There can be miscalculations and errors, which further waste the time of workers. These issues make the experience of merchants and partners horrible.

The solution to this problem is automated payouts. Everything is done automatically within the timeframe and without any errors. It reduces administrative workload and keeps the partners or freelancers happy.

Fondy’s Flow Payments offers automated payouts to make the payout process fast and flawless. After split payments, the amount lands in the merchant’s wallet, from where it is sent to the desired bank account or Flow Payments Account. This method not only reduces the processing time of payouts but also mitigates the cost of processing.

It offers automatic reconciliation and shows the status of all payments at any given time. It also reduces the risk of human errors as there is no human intervention in the payout process. Secondly, there is minimal risk of fraud with complete visibility for each payment. 

Fondy’s automated payouts also help you save money on interest and late payment penalties. It regularly processes payments and prevents missed payments. That said, businesses can avoid paying interest on outstanding balances.  

Integrating automated payouts improves customer or partner experience and supports business growth.

Further reading: How Does Split Payment Work?

Improved Cash Flow Management

For any business, cash flow management is extremely critical. Due to a wrong decision, it could end up having no cash in hand.

It is a must to have a balance between the amount received and the amount paid to the partners or merchants. Otherwise, either the partner or business will suffer, which badly affects the growth of the business and user experience.

Fondy’s automated payments improve cash flow management. It helps businesses predict the perfect time to pay merchants/partners. This way, they can prevent overspending their cash and have enough cash in the bank to run business activities. 

Moreover, businesses also benefit from bulk pay discounts. They avoid late payment fees by doing payouts on time. Last but not least there is no duplication or errors in the amount.

How to Set Up Fondy Flow

Setting up Fondy Flow is straightforward and hassle-free. We have summarised the whole process in four simple steps.

1) Sign Up

You have to Sign Up for Fondy Flow Payments. Go to the signup or registration page. Enter the details and create your account.

Fondy offers different types of business accounts. You have to select a suitable account according to the number of transactions, payouts, merchants, and features you need. Pay special attention to what each plan offers.

Your application will be submitted. The team will review it. If everything is perfect, your account will be approved, and you will receive a notification.

2) Integration

After the approval, you are ready to integrate Flow Payments into your e-commerce marketplace or platform. 

For this step, you need to get help from the developer to use the Fondy API and integrate it into the website or application. 

The best thing about Fondy is that it supports different SDKs (Software Development Kits) to ensure quick and easy integration of the service.

3) Configuration

After integration, you have to configure Fondy according to the business. You need to set up a split payment system and other things.

Fondy is a flexible platform that supports multicurrency and different payment gateway to make the checkout process easier for customers. You can select the payment method, multicurrency, etc. You can also set up the security system of Fondy to prevent fraudulent activities.

4) Testing

Once you have configured Flow Payments, you should test it before going live. Check it with your in-house team and specific people. Test the split credit card payment, marketplace payouts, international customer checkout, etc.

If everything is working fine, you are ready to go live and serve your customers. 

Getting Started with Fondy 

Fondy is an all-in-one platform to handle B2B money movement. It helps in managing money flows through a single platform. 

One of its incredible features is Split Payments online, which allows businesses to split the revenue between the business, customer, merchant, supplier, etc. It makes complex transactions easier and on time. We have discussed how split payments help a business grow and improve customer experience.

The automated payouts handle all your payments to merchants and partners without the need for invoices, paperwork, manual reconciliation, and a massive workforce. 

If you want to improve user experience and boost business growth, get started with payment gateway split payments and automated payout today. Ensure seamless money movement and management. Contact us to learn more about split payment and other features. 

 

 

Kokou Adzo is the editor and author of Startup.info. He is passionate about business and tech, and brings you the latest Startup news and information. He graduated from university of Siena (Italy) and Rennes (France) in Communications and Political Science with a Master's Degree. He manages the editorial operations at Startup.info.

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