what is Razorpay Route ?
Razorpay route is feature or solution provided by raorpay which enables to split the incoming funds to different sellers,vendors, third parties, or banks.
Example - Like an e-commerce marketplace when there are mny sellers selling their products and customers buying, the funds first collect by platform (the main app) and then with the help of Route ,payment or fund wil be release or split to different sellers.
Why we need Razorpay Route ?
Razorpay route is designed for oneto many disbursement model . suppose you are running a marketplace (like amazon) there are different sellers and different customers buying multiple items from different sellers, how will each seller recieves their share ?not manually . that will be too much work so you need razorpay route there which help to split the collected payments to their corresponding sellers each seller got their share after deducting platform's commision thats why we need razorpay route
How we integrate or set up this ?
To integrate Razorpay route you first need to create Razorpay account then
these 5 steps you have to follow to integrate or set up razorpay route in your app.
- You have to create a Linked account - (This is seller or vendor Business account)
- You have to create a stakeholder - (This is the person behind the account)
- You need to request Product Configuration (This is the product which the seller or vendor will you use )
- Update the product configuration (PROVIDE YOUR BANK DETAILS, acc. no. ifsc code)
- Transfer the funds to linked accounts using order, payment or direct transfers
After this test the payment and you have done .
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