Split Payments for Swiss marketplaces: How automatic payment splitting works

Split payment means that a buyer payment on a marketplace is automatically divided into several amounts – typically into the seller's share, the platform's 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?

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 cash 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 goods.

• Transaction fee: The PSP's costs for payment processing (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 its commission in its account – customer funds flow directly to the seller.

Example: EUR 100 shopping cart with 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. At no point is the money parked in a collective account of the marketplace.

2. Why Split Payments are Regulation-Wise Important for Swiss Marketplaces

Unlike the EU with the Payment Services Directive (PSD2), Switzerland does not have a separate payment services act. Regulation results 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 key risk for marketplaces: Anyone who accepts customer funds into their own company account and later forwards them to sellers may be deemed a financial intermediary within the meaning of Art. 2 para. 3 AMLA. This creates obligations such as affiliation with a self-regulatory organization (SRO), compliance with due diligence and reporting duties, and, in extreme cases, the obligation to obtain a license under Art. 1 para. 2 BankA.

Split payments bypass this issue because the marketplace operator never holds the customer funds itself. The PSP – which is regulated itself – handles 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 setup is decisive.

3. Multi-Seller Shopping Cart: One Payment, Multiple Comerciantes

On many marketplaces, customers purchase products from different sellers in a single order. A typical example: On a Swiss crafts marketplace, a customer simultaneously orders wooden shelves from Seller A (EUR 150), wall paint from Seller B (EUR 45), and assembly materials from Seller C (EUR 30).

The total amount is EUR 225. The customer pays once – the PSP splits the payment among three comerciantes, each minus the platform commission.

Shipping costs can be calculated per comerciante and also split, or flow to the platform as a flat fee. Technical implementation takes place via so-called split rules, which determine 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 a classic 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 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 – payouts to Sellers A and C remain unaffected.

Key questions that must be clarified before starting:

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

• What happens with a negative comerciante balance? If a comerciante has already been paid out and a refund occurs afterward, 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 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 split between the platform and the comerciante, depending on the contractual agreement.

5. Payout Timing 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 different time.

A rolling reserve – a percentage share temporarily withheld – can cushion the risk of chargebacks and refunds. Typically, this is 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 collective account model because each transaction is clearly split from the start. Nevertheless, there are points that must be clarified with the fiduciary:

• Platform revenue vs. seller revenue: The platform books only its commission as revenue – not the total amount. This directly affects VAT.

• Fee deduction: PSP transaction fees reduce platform revenue and must be properly booked as an expense.

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

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

• Recommendation: Clarify with your fiduciary before launch whether your marketplace acts as an intermediary (agency model) or as a seller (Comerciante of Record). This determines how revenue, commissions, and VAT are properly accounted for.

7. Checklist: What You Should Check Before Launching

• Is your PSP capable of executing 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 the comerciante covered by the PSP so you do not have to act as a financial intermediary yourself?

• Can the PSP correctly split multi-seller shopping carts – even with 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?

• Does a rolling reserve make sense 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 covering split payments, automatic 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 holding customer funds themselves or having to apply for their own license. As a regulated Swiss PSP, Payrexx handles compliance obligations so SMEs can focus on building their marketplace.