Introduction

SlicePay is Payvision's proprietary solution that allows you to split funds between multiple recipients. Any incoming payments through our Payments API or Checkout can be split between one or multiple recipients that have been boarded on your platform.
● All funds flow through Payvision’s trust account, making your platform or marketplace PSD2 compliant
● Payvision provides a Know Your Customer (KYC) process to ensure your recipients can be paid out without money laundering risk
● Slicepay performs the split and payout according to your specified logic and frequency
● You can benefit from our acquiring and alternative payment methods, as well as payouts to multiple regions

Your platform’s shopping experience remains the same, all you have to do is integrate the SlicePay API in the back end.
At Payvision, we’re always here to help. To find out more about this setting SlicePay up in your business, please contact your account manager.

Components

The SlicePay solution consists of two components:
● The Recipient database: All of the sellers on your platform are stored as “Recipients”. Payvision can help you onboard new Recipients, and guarantees that they are continually monitored to prevent your business from dealing with fraudulent or politically exposed sellers.
● The Slice module: All incoming payments will be collected in a virtual account held in your name. Each Recipient you have onboarded will have a sub-account after Payvision has verified them. You can then provide each Recipient with their respective share of funds, and make payments into their bank accounts according to your agreed terms.

Account structure

Each SlicePay merchant follows the account structure below, with dedicated virtual accounts:

Payvision Trusted Bank Account

Platform Account

Platform Bank Account

Recipient Account

Recipient Bank Account

SlicePay Components

In the diagram below you can see the SlicePay components.

SlicePay - ComponentsSlicePay - Components

SlicePay - Components

Prerequisites

If you are already processing payments with Payvision, please contact your account manager directly to upgrade your account to an active SlicePay merchant account.
Currently, we only accept vetted merchants operating in the EU and who are processing payments in defined currencies. Your account manager can help you understand if you qualify.


What's next