Split payment means that a buyer payment on a marketplace is automatically split into multiple amounts – typically into the seller's share, the platform commission, and any fees. For Swiss marketplaces, this model is particularly relevant because it allows the platform operator to never hold customer funds on their own account – and thus generally avoid regulatory obligations under the Banking Act (BankA) and the Anti-Money Laundering Act (AMLA).

This guide explains how split payments work technically, what cash flow models exist, how refunds and chargebacks work with split payments, and what Swiss SMEs need to consider when setting them up.

1. What is a Split Payment?

Split payment refers to the automatic division of a single transaction among multiple recipients at the time of payment. The buyer pays a total amount – in the background, the Payment Service Provider (PSP) distributes the money to the participating parties according to predefined rules.

In the context of a marketplace, these are usually three financial flows:

• Comerciante share: The amount due to the seller for their product or service.

• Platform commission: The fee retained by the marketplace operator as an intermediary – typically a percentage of the value of the goods.

• Transaction fee: The PSP's costs for processing the payment (e.g., credit card fees, TWINT fees).

The crucial point: the split happens at the PSP, not in the marketplace operator's account. The platform operator only sees their commission in their account – the customer funds flow directly to the seller.

Example: EUR 100 shopping cart with 10% platform fee

A customer buys a product for EUR 100 on a Swiss marketplace and pays with TWINT. The platform has agreed a commission of 10%. The PSP charges a transaction fee of 1.3%.

The buyer pays EUR 100. The marketplace operator receives EUR 10. The seller receives EUR 88.70. At no point is the money parked in a collective account of the marketplace.

2. Why Split Payments are regulatorily important for Swiss marketplaces

Unlike the EU with the Payment Services Directive (PSD2), Switzerland does not have an independent payment services act. Regulation arises from the interplay of the Banking Act (BankA), the Anti-Money Laundering Act (AMLA), and the practice of the Swiss Financial Market Supervisory Authority (FINMA).

The central risk for marketplaces: anyone who accepts customer funds in their own company account and later forwards them to sellers can be considered a financial intermediary within the meaning of Art. 2 para. 3 AMLA. This creates obligations such as affiliation with a self-regulatory organisation (SRO), compliance with due diligence and reporting obligations, and in extreme cases, the obligation to obtain a licence under Art. 1 para. 2 BankA.

Split payments bypass this problem because the marketplace operator never holds the customer funds themselves. The PSP – which is regulated itself – handles the payment processing and forwards the funds directly to the respective recipients.

Collective account vs. Split Payment: Comparison

Important: Split payments significantly reduce the regulatory risk, but do not replace an individual legal assessment. The specific contractual and technical design is decisive.

3. Multi-Seller shopping cart: One payment, multiple Comerciantes

On many marketplaces, customers buy products from different sellers in a single order. A typical example: a customer orders wooden shelves from seller A (EUR 150), wall paint from seller B (EUR 45), and assembly materials from seller C (EUR 30) at the same time on a Swiss craft marketplace.

The total amount is EUR 225. The customer pays once – the PSP splits the payment among three Comerciantes, in each case deducting the platform commission.

Shipping costs can be calculated per seller and also split, or flow to the platform as a flat rate. Technical implementation is handled via so-called split rules, which define per transaction which amount goes to which recipient.

4. Refunds and partial refunds with split payments

Refunds are more complex in marketplace payments than in traditional online shops because multiple parties are involved. With split payments, it must be clearly defined who refunds which share – and who bears the costs.

Full refund

If the customer returns the entire order, the full amount is refunded. The split logic is reversed: the PSP deducts the corresponding amounts from the comerciante accounts and refunds the total amount to the buyer.

Partial refund (one Comerciante)

If the customer only returns the product from seller B, only the corresponding partial amount is refunded. The refund only affects seller B – the payouts to sellers A and C remain unaffected.

Central questions that need to be clarified before launch:

• Who bears the payment fee for refunds? Some PSPs do not refund the transaction fee.

• What happens if the comerciante balance is negative? If a Comerciante has already been paid out and a refund is subsequently requested, a negative balance is created.

• Who communicates with the buyer? The platform is usually the point of contact.

Chargebacks

A chargeback occurs when a buyer requests a return of payment from their bank or credit card provider. For marketplaces, the liability issue is complex: the chargeback formally goes to the Comerciante of Record – which is usually the PSP or the platform.

In practice, the chargeback fee (typically EUR 20–25) is either borne by the Comerciante or split between the platform and the Comerciante, depending on the contractual agreement.

5. Payout schedules and payout logic

Split payments define how a payment is divided. The payout to the Comerciante is a separate process that can take place at a later time.

A rolling reserve – a percentage share that is temporarily withheld – can cushion the risk of chargebacks and refunds. Typically, this is 5–10% of transaction volume over a period of 90–180 days.

6. Accounting and reconciliation

Split payments simplify accounting significantly compared to the collective account model because each transaction is clearly split from the start. Nevertheless, there are points that need to be clarified with the fiduciary:

• Platform revenue vs. seller revenue: The platform only records its commission as revenue – not the total amount. This has a direct impact on VAT.

• Fee deduction: Transanction fees of the PSP reduce the platform income and must be correctly recorded as expenses.

• Payout files: The PSP provides reconciliation files (CSV, API) that allow the reconciliation of incoming payments, commissions, and payouts.

• Refunds and chargebacks: Chargebacks must be correctly recorded both at the Comerciante and at the platform.

• Recommendation: Clarify with your fiduciary before starting whether your marketplace acts as an intermediary (agency model) or as a seller (Comerciante of Record). This determines how sales, commissions, and VAT are correctly posted.

7. Checklist: What to check before launch

• Is your PSP capable of executing split payments with Swiss payment methods (TWINT, PostFinance, credit cards, QR-bill)?

• Is it clearly defined who the Comerciante of Record is – the platform, the Comerciante, or the PSP?

• Is there a policy for refunds and chargebacks: who bears the costs, who communicates with the buyer?

• Are the payout cycles for Comerciantes defined (frequency, minimum payout, currency)?

• Is the KYC onboarding of Comerciantes covered by the PSP, so that you do not have to act as a financial intermediary yourself?

• Can the PSP split multi-seller shopping carts correctly – even in the case of partial returns?

• Are there reconciliation files or an API for reconciliation with accounting?

• Have you clarified with your fiduciary how commissions, fees, and payouts are booked?

• Is a rolling reserve useful to cushion chargeback risk?

• Have you had the regulatory classification of your model legally reviewed?

8. Split payments with Payrexx for Swiss marketplaces

Payrexx offers an integrated marketplace payment solution that covers split payments, automated KYC onboarding for Comerciantes, and payouts to sub-Comerciantes from a single source. The platform supports TWINT, PostFinance, credit cards, QR-bill, and other Swiss payment methods.

Via the Payrexx Platform API, marketplace operators can configure split rules, commissions, and payout cycles individually – without having to hold customer funds themselves or apply for their own licence. As a regulated Swiss PSP, Payrexx handles compliance obligations, allowing SMEs to focus on building their marketplace.