Overview
Antom Marketplace Service is a comprehensive funding solution for the marketplace and its sub-merchants, such as sellers, influencers, and service providers. It integrates payment, flexible settlement, and settlement options, and provides the following key capabilities:
- Sub-merchant onboarding: The marketplace can onboard sub-merchants to Antom, enabling them to access a range of funding services, including payment collection and settlement.
- Payment: Antom offers a wide range of payment methods from different countries. Settled sub-merchants can use the payment methods contracted by the marketplace with Antom. Platform sellers are the transaction's payee, and Antom helps them complete the payment.
- Settlement: Antom provides the capability to split and settle funds for completed transactions, both for the marketplace and other sub-merchants.
- Funds transfer: Once transactions have been split and settled, Antom transfers funds to the marketplace or each sub-merchant's account within the predefined settlement date.
Under the Marketplace mode, the marketplace side initiates operations such as sub-merchant onboarding, payment requests, and flexible settlement without the need for the sub-merchant to operate.
Antom account
The marketplace will open an Antom account while signing up with Antom. When the marketplace enrolls a sub-merchant in Antom, it will automatically create an Antom account for a sub-merchant with an existing email address, which can also be used to receive subsequent notifications. Please note that an enrolled Antom email address cannot be reused.
Settlement account
When the marketplace signs a settlement contract with Antom, it signs multiple settlement currencies. Sub-merchants associated with the marketplace can also utilize multiple settlement currencies. Each currency corresponds to an Antom settlement account and a sub-merchant's settlement bank account.
After the transaction is completed, the funds are first deposited into the seller's Antom settlement account. Once the marketplace initiates a settlement order through the interface, the funds are then transferred to the settlement bank account of the sub-merchant (including the seller) according to a predefined settlement date.
The marketplace has an Antom settlement account and a settlement bank account. Under the Marketplace mode, the marketplace is not involved in direct payment collection but can receive payment through a fund-splitting form. After the marketplace initiates a flexible settlement through the interface, the funds are deposited into the marketplace's Antom settlement account. Once the predefined settlement date is reached, the funds are settled and transferred to the marketplace's settlement bank account.
The following diagram illustrates various settlement currencies used by the marketplace and sub-merchants, as well as the relationship between different settlement accounts.
Figure 1. Diagram of settlement accounts for marketplace and sub-merchant
Funds flow
The following chart illustrates the funds flow when a buyer completes a transaction and funds are settled and transferred to the marketplace account or sub-merchant account. The example uses BRL (Brazilian Real) as the transaction and settlement currency:
Figure 2. Funds flow
When a transaction is completed by a buyer, the funds are held in a non-settlement state in the seller's Antom settlement account. Once the predefined settlement date between the marketplace and Antom is reached, the marketplace can initiate a flexible settlement through the API. At this point, funds are split from the seller's Antom settlement account to those of the marketplace and the service provider (sub-merchant), putting the funds into a pending settlement state.
The seller's (sub-merchant’s) remaining funds, simultaneously, will also be in a pending settlement state. Once the settlement date arrives, Antom handles the settlement and transfers the funds to the bank accounts of both the marketplace and each sub-merchant.