Split Payments

Monetary transactions are a relatively straightforward process for users depositing money from one source to another. However, there are instances where one-to-one transactions are too simple, and features like split payments are beneficial.

The SilverLogic is aware of the necessity of more sophisticated payment methods and have developed software with the ability to split payments between multiple parties. By providing users with this feature, they are more likely to work with this flexible program over a different one with more limited payment options.

The Process

For programs that require the integration of payment transactions, there are notable details to consider before adopting a certain method:

  • UX – anticipating what the user would hope that the application does. Giving users the greatest flexibility and functionality possible
  • Payment Gateways – choose a system that satisfies all possible user needs. Gateways offer easy to integrate features that are safe and secure for user’s personal information
  • -The SilverLogic frequently uses Stripe and Braintree for their application’s payment system

The decision to include split payments as a feature in applications comes from the desire to provide customers the most functionality possible. Two programs that The SilverLogic developed that offer a split payment feature are Loturas and My Town Delivery.

Loturas was created as a means to monetize communications between job recruiters and job seekers. The founder of Loturas requested that the program allows:

  • Recruiters to set prices for meetings, interviews, and phone calls
  • Job seekers to pay these fees in order to gain communication access with recruiters
  • Third parties to refer people to the job posting in exchange for a portion of the application fees

My Town Delivery is a food delivery application for local merchants that is meant to:

  • Provide the user with store menus and business information
  • Gives them a central place to make orders for takeout and delivery from these shops
  • Allow multiple people to contribute to a single order
  • Provide various ways to split the order among the contributors

The Designs

Loturas

Loturas offers recruiters the ability to set application fees and a custom Thiel Price, which is the amount of money job seekers have to pay to bypass the application process and to be immediately offered a position for a job posting. Other features include:

  • Referral Commision – the option to set a referral commission to incentivize people to share the job with others for a split of the hiring profits
  • Stripe integration – payments facilitated through the safe, secure, and scalable Stipe software platforms

My Town Delivery

My Town Delivery is a uniquely designed food service application that allows users to order food from merchants in their local area. By allowing users to split payments, My Town Delivery means efficiency and ease when ordering for individuals or for group orders.

The SilverLogic decided to create an application that offers convenient payment options for individuals and groups of people when purchasing their orders. Features of the application include:

  • Group Orders – multiple people may be invited to join a user’s order and add their selections to an order
  • Flexible Split Payment Options
  • – Split by Items – charges each customer for the items they have selected and added to the order

    – Even Split – splits the bill evenly among members of the order

  • Real-time Notifications – payments facilitated through the safe, secure, and scalable Stipe software platform

Effects

The SilverLogic has currently tackled two projects that offer the advanced split payment methods. Loturas and My Town Delivery solve the problem of split payments from opposite directions. Loturas splits and distributes money that is received by the program to multiple sources. My Town Delivery collects payments that are coming from multiple sources.

Loturas is now online and available for job recruiters and job seekers to create an account. It aims to revolutionize the job market as the world’s monetized social network.

My Town Delivery is currently available for local businesses to add their information to the platform and begin accepting orders from customers. It makes takeout and delivery orders simple and convenient for local shoppers.

The Future

During the development process, The SilverLogic creates a lasting bond with our clients. We pride ourselves on the fact that we deeply integrate ourselves into our clients’ teams. This momentum and camaraderie continues even after the product first goes live.

The SilverLogic, is always available for hosting, server maintenance, support, and development of new features for your needs. We value relationships and seek long-lasting partnerships by working together enthusiastically and passionately.

Please feel free to contact Robert Okun at ro@tsl.io for more information.

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