Split Payments for Swiss marketplaces: How automatic payment splitting works

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 applicable fees. For Swiss marketplaces, this model is particularly relevant because it allows the platform operator to never hold customer funds in 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, which payment flow models exist, how refunds and chargebacks operate with split payments, and what Swiss SMEs must consider during setup.

1. What is a split payment?

A 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 funds according to predefined rules to the parties involved.

In the context of a marketplace, these are usually three fund 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 basket value.

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

The decisive point: The split occurs at the PSP level, 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 basket with a 10% platform fee

A customer purchases a product for EUR 100 on a Swiss marketplace and pays with TWINT. The platform has agreed on a 10% commission. 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. The funds are at no point parked in an omnibus account belonging to 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 a standalone payment services act. Regulation arises from the interaction 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 into their own company account and later forwards them to sellers can be deemed 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 duties, and in extreme cases, the obligation to obtain a licence pursuant to Art. 1 para. 2 BankA.

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

Omnibus account vs. split payment: Comparison

Important: Split payments considerably reduce the regulatory risk, but do not replace individual legal review. The concrete contractual and technical structure is decisive.

3. Multi-seller shopping basket: One payment, multiple comerciantes

On many marketplaces, customers purchase 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) simultaneously on a Swiss craft marketplace.

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

Shipping costs can be calculated per comerciante and also split, or flow to the platform as a flat fee. Technical implementation is handled via split rules, which determine per transaction which amount goes to which recipient.

4. Refunds and partial refunds with split payments

Refunds are more complex with marketplace payments than in a traditional online shop 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 merchant accounts and refunds the total amount to the buyer.

Partial refund (single 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 must be clarified before launching:

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

• What happens in case of a negative merchant balance? If a comerciante has already received a payout and a refund occurs afterwards, a negative balance is created.

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

Chargebacks

A chargeback occurs when a buyer reclaims the payment via their bank or credit card provider. For marketplaces, the liability question 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 divided between the platform and the comerciante, depending on the contractual agreement.

5. Payout timings and payout logic

Split payments define how a payment is divided. The payout to the comerciante is a separate process that can take place on a deferred schedule.

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

6. Accounting and reconciliation

Split payments significantly simplify accounting compared to the omnibus account model because every transaction is clearly split from the outset. Nevertheless, there are points that must be clarified with your fiduciary/accountant:

• Platform revenue vs. seller revenue: The platform only books its commission as revenue – not the total amount. This has direct implications for VAT.

• Fee deduction: Transaction fees from the PSP reduce the platform earnings and must be booked correctly as expenses.

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

• Refunds and chargebacks: Reversals must be correctly booked by both the comerciante and the platform.

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

7. Checklist: What you should check before starting

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

• Is it clearly defined who is the Comerciante of Record – 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 KYC onboarding for comerciantes covered by the PSP so that you do not have to act as a financial intermediary yourself?

• Can the PSP correctly split multi-seller shopping baskets – including for partial returns?

• Are settlement files or an API available for reconciliation with accounting?

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

• Is a rolling reserve sensible to mitigate the 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 covering split payments, automated KYC onboarding for comerciantes, and payouts to sub-merchants from a single source. The platform supports TWINT, PostFinance, credit cards, QR-bill, and additional Swiss payment methods.

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

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