Split Collect – Phi Commerce

PayPhi Split Collect

An innovative payment collection solution

PayPhi Split Collect is our latest innovation to aid seamless payment collections.

A first-of-its-kind offering in India, PayPhi Split Collect will enable you to offer your consumers unparalleled flexibility while paying for your invoices.

You can empower your consumers with the option to pay for a single invoice by splitting across multiple payment transactions. For each transaction, consumers can choose the payment instrument of their choice. There is no limitation on the number of split payment transactions and a combination of instruments to pay for the invoice.

In addition to this, you can even (depending upon your business requirements), allow the consumer to split and pay in a single session or pay later as per their convenience to complete the purchase.

This powerful innovation will enable you to drive higher conversion rates for large value transactions without worrying about abandoned payments due to lack of sufficient funds in a single payment source, of your consumer.

Who is PayPhi Split Collect meant for?

The offering is for all Merchants but is ideal for Merchants having high-value products/service offerings or a business need where the consumer can split and pay in parts at a different time of the day or over a period of time.

Benefits for Merchants

Superlative consumer experience
Offer redemption of reward points against purchases
Tackle collection bounces for high ticket size first-time or recurring payments
Drive higher success rates for payment collection
Enable purchase by part payments using your reward points
Complete reconciliation of payment received through multiple instruments

Benefits of PayPhi Split Pay for Consumers

Flexibility to use multiple payment instruments – for lack of funds in a single source
Overcome the need to move funds from multiple sources to make a purchase
Club multiple ongoing Issuer promotions & discounts across various payment modes for a single purchase
Collect reward points on multiple instruments for a single purchase
Flexibility to split and pay at a time of convenience to complete the transaction.

Frequently Asked Questions

How is the Merchant charged?

Merchant discount rate system is set as per the commercials discussed and agreed upon between PayPhi & the Merchant. Each instrument would be charged differently.

Time allotted to consumer for completing the full payment

The time allowed for the consumer to conclude the invoice payment is set as per the Merchant’s business requirement.

What payment modes can be used by the consumer to make split payments

All available payment modes such as debit/credit cards, net banking, UPI, QR Code, pre-approved credit limit, loyalty points, Wallets, EMI-on-Cards facility.

Can the consumer use their pre-approved credit lines?

Yes, PayPhi Split Collect is tensile to accommodate the use of pre-approved credit lines such as Lazy Pay, Zest Money, CRED Pay etc.

Are there any limitations on the number of split payment transactions or number of payment instruments that can be used?

There is no limitation.

What happens in case of incomplete or partial amount paid by consumer?

PayPhi Split Collect initiates an auto-refunds if the total invoice amount is not paid by consumer before expiry of the invoice.

How does PayPhi Split Collect react to the “Late Good Response”?

If the late good response is received within the stipulated invoice expiry, PayPhi Split Collect will accept the late good response, else an auto refund of the amount will be initiated.

How is the reporting of the split transactions done?

The transaction reports are customized as per your business requirements. We provide reports on split payments, cumulative splits for invoice amount & refunds.

How is the Merchant intimated on Split collections?

With API integration, PayPhi Payment Gateway will be in position to provide the status response for individual split transaction.

Will the settlement API mention the details of the individual split payments?

Yes, the settlement API will mention the details of the individual split payments, customized to Merchant’s business requirements.

How does PayPhi handle the consumer payment refunds received from the multiple payment instruments?

PayPhi Split Pay is tensile to accommodate the refunds. The refunds will happen to the original Instruments of payment of the consumer.