A transaction split by bank to multiple merchants

[George]

does anybody know if it is possible to split a customers transaction to a multiple merchant accounts??

i am not sure if banks cater for this or if it has an exuberant cost attached.

[stymiee]

You can split up a merchant's transactions to go to different merchant accounts but not in the way I suspect you are hoping for. Plus I believe the exuberant costs you refered to might apply.

To do this you would need to establish a merchant account for as many accounts as you want to split the transactions up for. Each one will almost certainly have its own monthly fee. If you only want two or three accounts this will run you about an extra $20 per month or so ($10 per account). [b]But[/b] you will need a separate terminal for each account and that's where it gets expensive. Using software can make this less expensive if you have a computer.

If I may ask, what were you hoping to accomplish? Maybe I can offer a suggestion as to how you can go about accomplishing it.

[George]

thank you for your reply

example

i am an internet web site and retail products that cost 30% of their retail price (one suppliers, act as online distributor). i would like to be able to process the sale and have the payment gateway split the purchase amount into different %'s (70% my merchant account and 30% the manufacturers).

30% merchant
/
payment ------ {gateway}
\
70% merchant

ensuring guaranteed payment.

very strange request i know but none the less is there any way.

thanks

[stymiee]

I believe I understand what you are after and I don't think it is something you can do with your merchant or payment gateway as they do not provide the resources needed to handle that.

The processing bank, who handles the merchant account, basically just waits for a transaction to come through so it can pay the merchant and charge the customer.

The gateway only acts as a middle man. The gateway just sends alongs the information you give to it to the processor. It doesn't really do much thinking at all.

If something like this can be accomlished, it would need to be done programmatically by your website either before or after the transaction. It would be complex and I can't think of a way off of the top of my head. But, if it would make your life easier you may want to look into it further. Maybe you can charge the customer's credit card to your account and then make a transfer from your account to the manufacturers account through ACH?

[ElektraJay]

Hi George,

Your request is not strange at all and I have come across it many times in which merchants have requested that we handle payouts for there shipping/ customer service/ and whatever was left to send to them either cause they dont have time or in some cases know how to run a business really well but only to an extent and could not be bothered with dispersing funds to multiple accounts, but that was with ACH/Draft.

Have you thought about what you would do in terms of refunds/chargebacks would you be able to recoup the 30% from your manufacturer or be out of pocket 100% plus fees associated?

[nelsonkist]

The gateway just sends alongs the information you give to it to the processor. It doesn't really do much thinking at all. For businesses that accept a substantial number of both card-present and card-not-present transactions.

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