Sales League Table 2020 | Banking Technology Winners

Results Announced!

Stay up-to-date with the latest industry news and analysis.

Subscribe to BankTech Daily News today. Limited time offer.

The Black Swan Opportunity | Get your bank digital ready.

IBSI Special 5 Digital Report Package with Special Offer. Subscribe now

Core Banking Market Dynamics Report 2020

Global analysis of core banking system sales. Subscribe now

Yandex.Checkout rolls out Split Transaction for marketplaces and online platforms

Russia-based Yandex.Checkout today announced the launch of Split Transaction, a new solution for marketplaces and online platforms. The company states that the new solution will automatically split money between different sellers whose goods have been paid for in a single order via one transaction. The solution is expected to help platforms in managing the financial flows between sellers and buyers as well as the flow of documents.

“The e-commerce market is at the stage when competition for customer attention and loyalty becomes more and more expensive. This is why we see the rapid development of the trend for centralizing the sales via large marketplaces, where different sellers interact with customers under one unified brand. It can be a marketplace with thousands of stores or, for example, a website with goods and services from different businesses of one parent company. Yandex.Checkout addresses this trend by launching split transaction and offering companies a solution for a comfortable operation in the “one platform—many companies” format,” said Yulia Gorelova, Head of payment business at Yandex.Money.

According to the company, the money received goes directly to the merchant’s account and not to the platform. It also offers the option of holding the payments for up to 7 days, so that the settlements are made to the seller’s account only after they fulfil the obligations to the buyer. The solution also allows for issuing total or partial refunds to the customer and is capable of automating the process of issuing receipts and sending them to sellers. The Split Transaction solution can processes up to 100 items in an order and allows merchants to accept payments through methods including e-wallets, bank cards, online banking, direct carrier billing, etc.

Related IBS Intelligence Research

Related Posts

cred.ai emerges from stealth mode & launches technology-powered Metal Card

cred.ai, a Philadelphia-based FinTech company, has announced its emergence from stealth mode to debut technology-powered Metal Card, a consumer spending product that leverages proprietary technology to give users controls, convenience, and automatic credit score optimization. With cred.ai Guaranty, customers do not have to pay fees or interest. They will also receive a premium brand experience […]

This post is only available to members.

Read More »

Cloud9 Technologies teams up with comitFS to boost real-time voice trading APIs

Cloud-based communications provider Cloud9 Technologies has teamed up with comitFS, a UK-based provider of voice middleware and API abstraction capabilities for financial services companies. The collaboration will facilitate the development of real-time call control capabilities for voice trading within the institutional marketplace. “As trading dynamics shift to a more digitally-driven environment, firms want the peace […]

This post is only available to members.

Read More »

Quantum Group acquires mobile cashback app Tail

London-based FinTech incubator Quantum Group today announced the acquisition of mobile cashback app Tail. The acquisition is expected to enable Quantum Group to increase the number of banking partners integrated with Tail and to onboard different retailers from around the UK. Tail’s platform enables retailers to create hyperlocal marketing campaigns, thus allowing them to increase […]

This post is only available to members.

Read More »