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.