Platforms for SaaS
Beta
Platforms for SaaS is designed for software platforms that need to process payments on behalf of their sub-entities but are not licensed or regulated to participate directly in the flow of funds.
As an unregulated platform, you must outsource due diligence checks and transaction management for your sub-entities to Checkout.com during their onboarding.
During onboarding, Checkout.com performs the required verification and compliance checks on your sub-entities, including:
Card Scheme Screening (CSS)
Financial Crime Compliance and Anti-Money Laundering (AML) checks, such as know your customer (KYC), know your business (KYB), politically exposed persons (PEPs), and sanctions.
If a sub-entity successfully passes these checks, their payment and payout capabilities are enabled.
You can pay out funds directly to your sub-entities using Bank Payouts or Card Payouts.
- Funds are routed to your platform and sub-entity's sub-accounts, based on the amount allocation information you provide with each transaction.
- Settlements are paid directly to the sub-entity's verified bank account.
- You can use a transaction's split information to charge your sub-entities a platform commission.
- You can have the the ability to make revenue from your sub-entities' payments.
- You can set different prices for different categories of sub-entities.
Fees for the platform are distributed as follows:
When you onboard a sub-entity, you can specify one or more holding currencies, such as USD, GBP, or EUR. For each holding currency you specify, Checkout.com creates a corresponding sub-account for the sub-entity.
You can also specify the sub-entity's default holding currency. For example, USD.
When you process payments on behalf of a sub-entity, Checkout.com routes and holds funds as follows:
- Payments processed in USD are routed to and held in the sub-entity’s USD sub-account.
- Payments processed in GBP are routed to and held in the sub-entity’s GBP sub-account.
- Payments processed in any other currency are routed to and held in the sub-account corresponding to the sub-entity’s default holding currency. In this case, USD.
Securely transfer funds to your sub-entities' bank accounts using Bank Payouts and Card Payouts.