By configuring Market Place PG API, you can manage split settlement direct to the Vendors against the collection from the respective customers.
Also, as a merchant, you can charge a commission against each of the transactions
Follow the steps given below to use Market Place PG API for your Site.
Important Notes
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As a merchant, you will get your commission settled to your open pay and the vendor will get his split into his configured bank account (Sub Account) on the T+2nd business working day (For cards and Net Banks ) at 5 PM and the same day at 5 PM for UPI.
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To set the commission ( fixed or percentage ) for the marketplace pg settlements please refer to the document link https://docs.bankopen.com/reference/map-contact-api and later to update the commission please refer to the document link https://docs.bankopen.com/reference/update-contact-vendor-link.
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Merchants can view/download the pg marketplace settlements and transactions navigate to Open dashboard>> Payments >> Payment Gateway >> Marketplace Transactions / Settlements.
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Please note there will be no refund for marketplace transactions since a part of the transaction amount has already been settled to the vendor's account.