Describe the commissions and split transactions in Bluesnap.
Split Transactions in Bluesnap :
They will have two options for chargeback management self-service and the complete service option self-service, designed for those who want to take control over which chargebacks are disputed, prepare the case, and submit it. Suppose you’d instead not get involved and have BlueSnap in charge back to mine. The one dispute any chargebacks that we believe are invalid, and that can be one they can take that responsibility off your plate, so the result of this integration is going to be it’s much easier to dispute chargebacks. So if you’re having blue snap and chargebacks 9-1-1, take care of that for you; it’s entirely out of your hands. But if you’re looking for a solution you can own and drive, they’ll have an online portal integrated with blue Snaps.
You can indicate which chargebacks you are on a dispute, easily upload any cases, and submit them; you’ll get real-time notifications as the dispute is being completed as well as updates for when that verdict is Reached. They have more information on their website if you’ve won or lost the dispute. They’ll keep you updated as it becomes available moving on to marketplaces; Bluesnap has many tools to support all the different marketplaces. There are many different models for building an online marketplace; one of our highlights among our tools is our marketplace API which platforms can use to split payments. So by splitting payments, they mean that when to settle a transaction, they can settle a portion to the platform or the Marketplace, and they can settle a portion to one or any other vendors that are selling on the Marketplace. So when they first launched the marketplace API last year, it supported this simplified model that they called one-to-one, so here you have an example of a mobile app that users would download to hire a dog walker.
Commissions for Bluesnap :
If you are using the Bluesnap marketplace API, this mobile app could have paid the platform of Commission for each service and have the rest of the funds paid directly to the dog walker. So that way, the mobile app isn’t keeping track of the dog walkers, how much money is owed, when they need to be paid, etc. the announcement they’re making today is that they’re expanding the split payment capability to support splitting a payment among multiple partners. So in this example, the shopper is on a marketplace and adds three different products to their shopping cart; each product is sold from a different third-party seller. Blue Snaps would, in this case, pay the Commission directly to the Marketplace, and they would pay each of these hours the amounts they’re owed for their transaction.
There are several use cases for this. I’ll mention one additional one, which they call many to many payments, and in this case, instead of a typical retail marketplace described in the previous slide. That is a subscription service where all subscribers get access to a network of gems in their area. They may get a spin studio, a CrossFit gym, and an orange theory gym with their monthly membership. So, in this case, blue Snaps is processing all the recurring payments with our subscription engine. For each charge, blue Snaps is splitting the subscription payment to the app and paying commissions directly to each gem for their participation in the subscription.