What is a Split Payment?
Split payment is a payment using several payment sources at once. Let's say you go to the grocery store, and your total purchase is $100. You pay $50 with a credit card and give another $50 to the seller in cash. This is a separate payment. Another common scenario is splitting a single bill in a restaurant by the number of guests, when each guest pays their share using the chosen payment method, whether it's a debit card, credit card, cash, crypto, etc.
Split online payments have become much easier and more flexible in recent years, thanks to the introduction of numerous modern financial technologies and payment applications. Although many merchants do not like it when buyers pay using multiple payment sources (as it's a bit complicated for the sellers), this is an important option for many customers. In particular, clients may choose to pay for a part of their order with a credit card and pay the rest with another card or PayPal. Separate payments are an optional feature but can be an important competitive advantage for an online store or offline point of sale. Split payment transactions can be implemented by any business, regardless of niche.