A split payment means using multiple funding sources to cover the total cost of one transaction. For example, someone might use two credit cards to pay for an item, or friends at a restaurant might divide the bill among three people. These are typical instances of split payments.
Advancements in technology are transforming the way people shop from in-person interactions to digital transactions. In finance, traditional services that required visiting physical locations and speaking to professionals are now accessible online, reducing travel and saving time.
Financial technology, or fintech, is changing how we handle payments, making it easy to pay for items in real-time at low costs. And innovative tools, like Kasheesh, even let consumers divide transactions across multiple payment options.
Split payments are common in physical stores. A customer buying $100 worth of groceries is often able to pay with cash, credit, debit, or a combination to settle the amount.
With online purchases, the process has historically been a bit more complex, but as we've mentioned, there is a new tool that makes online split payments just as easy as in physical stores: Kasheesh. We’ll explain more in a second.
Although more e-commerce sites accept a range of payments, few allow split payments with multiple cards, although they may offer other alternatives. For example, if someone wanted to split a purchase on Amazon, they could buy an Amazon e-gift card with one card–and then, at checkout, they can use both the gift card and a credit card to complete the purchase.
But now, thanks to Kasheesh, splitting payments across multiple cards has become easier than ever–both online and in physical stores.
Kasheesh makes it easy to split payments across up to five cards in a single transaction, giving you control over spending without the hassle.
With Kasheesh, you can allocate exactly as much as you want to charge to each card, including credit, debit, and even prepaid gift cards. This is perfect for managing credit limits, spreading our large costs, or simply making the most of your available balances.
Using Kasheesh is convenient and secure, and works anywhere Mastercard is accepted. Here’s how it works:
This approach streamlines transactions for small or big purchases like rent, travel, and holiday shopping, letting you stay within card limits and fully utilize available balances.
"Thanks to Kasheesh, splitting payments across multiple cards has become easier than ever–both online and in physical stores."
Another example is splitting a payment across multiple cards owned by different people, common in restaurants or ride-sharing services.
For instance, split payment apps let diners at a restaurant share a bill via the app, each paying their share with their card.
Ride-sharing app Lyft also allows riders to split the fare if both are on the same ride and haven’t reached their destination.
Popular app Venmo offers ways for people to split bills for meals and other shared expenses, although one person typically has to front the cost first.
Split payment is convenient for those sharing costs or working within credit limits or daily spending limits on a debit card.
If a total exceeds one card’s limit, the ability to split the payment allows a customer to make the purchase without exceeding their available balance.
Split payments offer a flexible, convenient way to manage expenses, share costs, and make full use of available balances. Thanks to fintech tools like Kasheesh, splitting payments across multiple cards is now easier than ever, both online and in physical stores.
Kasheesh allows users to divide transactions across up to five cards, making checkout simple and providing control over spending. Whether you’re combining a gift card with a debit card or sharing expenses, Kasheesh enables seamless, flexible payment solutions that fit your financial needs.
As technology advances, split payments are becoming an essential tool for budgeting and simplifying purchases.
Not using Kasheesh yet? Start splitting your payments across multiple cards:
Disclosure: Kasheesh is a financial technology company, not a bank. Banking services provided by Bangor Savings Bank, Member FDIC. Kasheesh's Mastercard® Pre-paid and debit cards are issued by Bangor Savings Bank, Member FDIC, pursuant to license by Mastercard International Incorporated. Mastercard is a registered trademark, and the circle design is a trademark of Mastercard International Incorporated. Spend anywhere Mastercard is accepted.
The content on this blog is for general information purposes only, and is not intended to be personal financial advice. It does not take your individual circumstances and financial situation into account, and any reliance you place on the information is at your own risk.
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