needs Kasheesh
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.
Key Takeaways
- A split payment uses multiple payment methods to complete the cost of a single purchase.
- Split payments enable people to use different payment sources for one order, or allow groups to jointly cover the total amount.
- Fintech solutions and apps, like Kasheesh, have made split payments easier and more streamlined than in the past.
Understanding 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 in Practice
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.
Split Payments Across Multiple Cards with Kasheesh
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:
- Sign up and link your cards: Create an account, then add your credit, debit, and prepaid cards that you want to use.
- Select your cards at checkout: When you’re ready to make a purchase, choose which cards you want to use and decide how much to charge on each.
- Kasheesh generates a digital Mastercard: Kasheesh combines your selected cards into one virtual card, which you can use at checkout like any regular payment card, both online and in physical stores (by adding it to a digital wallet, like Google or Apple Wallet).
- Complete your purchase: Your transaction is instantly split according to the amounts set, drawing from each card as designated.
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."
Split Payment Users and Tools
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.
Also consider:
- How to Split Payments on Amazon
- Split Payment: How to pay with multiple cards at Walmart
- Can I Split My Tax Payment Between Multiple Credit Cards?
Benefits of a Split Payment
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.
Conclusion
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:
