How to Use Sub Accounts and Split Profiles

Managing payments and settlements can be tricky, especially when you need to share revenue between different business units, partners, or vendors. Sub accounts and split profiles are features designed to make this process much easier. In this guide, you’ll learn what these features are, why they matter, and how you can use them to simplify your payment operations.

What Are Sub Accounts?

Sub accounts let you divide your main account into smaller accounts for specific purposes. For example, you might want to share revenue with a partner or allocate funds to different departments within your business. By setting up sub accounts, you can automatically split each payment, sending the right percentage to each party.

Benefits of Sub Accounts:

• Automate revenue sharing without manual calculations
• Improve transparency so everyone can see their share
• Reduce manual reconciliations and errors

What Are Split Profiles?

Split profiles take sub accounts a step further. Instead of setting up a split every time you process a payment, you can create a profile that holds your preferred split arrangement. Each profile can include multiple sub accounts and specify what percentage of each payment goes to each one. When you make a payment, you simply reference the split profile, and the system distributes the funds automatically.

Benefits of Split Profiles:

• Eliminate repetitive setup for each transaction
• Ensure consistent and accurate settlements
• Easily manage complex revenue-sharing arrangements

How to Set Up and Use Sub Accounts

1. Create Sub Accounts: Use the API or the Merchant Portal to create sub accounts for each business unit, partner, or vendor.
2. Assign Split Rules: Decide what percentage of each transaction should go to each sub account.
3. Reference Sub Accounts: When you initiate a payment, include the sub account details in your request. The system will automatically allocate the correct share.

How to Create and Use Split Profiles

1. Create a Split Profile: Through the API or Merchant Portal, set up a split profile. Add the sub accounts you want to include and set the percentage for each.
2. Reference the Profile: When making a payment, simply reference the split profile. The payment will be divided according to your preset rules.
3. Review Settlements: You can always check the Merchant Portal to see how funds were distributed and ensure everything matches your expectations.

Why Use Sub Accounts and Split Profiles?

If you regularly need to share revenue, these tools save you time and help you avoid mistakes. They make your settlements more transparent and reliable. For example, if you run an event with multiple partners, you can set up a split profile once and use it for every ticket sale, making sure everyone gets paid correctly.

Key Metrics to Track

• Sub Account Usage Rate: How many merchants are using sub accounts for settlements.
• Split Profile Adoption Rate: The percentage of merchants using split profiles.
• Settlement Accuracy: The number of errors or disputes in settlements involving sub accounts or split profiles.

Utilising sub accounts and split profiles allows businesses to dedicate more attention to growth initiatives while minimising the administrative burden associated with manual payment management. These functionalities are specifically engineered to facilitate revenue sharing in a manner that is straightforward, precise, and devoid of unnecessary complexity.