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Jokul Sub Account Overview

Jokul Sub Account is a set of APIs and tools that facilitate you to accept and send payments on your marketplace or software platform. Jokul Sub Account is a solution for merchants that need to handle payment between different parties at different times in different scenarios. Jokul Sub Account gives you more strength to handle the payment routing easier than ever before without compromising user experience.

With Jokul Sub Account, you can create accounts for your partners, transact on behalf of them, split payments, monitor their transactions, directly bill them, send payouts and more.

Once Jokul Sub Account service has been verified for your business, you may use the Account API to create sub accounts, thereafter simply include account_id parameter in Jokul API call to create a transaction for those accounts. These accounts and their transactions will appear in the Finance - Sub Account tab on your Jokul Dashboard. Currently Jokul Sub Account is in closed beta. Contact us if you want to get early access.

When using Jokul Sub Account you will be referred to as a Platform, each party that receives money on your platform will be referred to as a Partner.

  1. Platform: Merchant (Business entity that has legal agreement with DOKU)
  2. Partner: Merchant's Business Partner e.g seller, branch, service/ product provider, etc (Business entity/ personal that has legal agreement with Platform)

Learn How Jokul Sub Account Works#

1. Create an Account

When using Jokul Sub Account you need to create an account (known as sub account) for each party that receives money on your site. These accounts are created when your partner signs up for your site. The type of account you choose for your partner determines your partner experience and operational responsibilities such as KYC/ KYB, user support, etc. Currently there are two account types you can use with Jokul Sub Account, each of which is designed for different use cases.

  • Default: This account is almost completely invisible to the account holder and DOKU has no direct contact with them. Default accounts are suitable for platforms who want to control the entire user experience. Liability for partner KYC/ KYB is on Platform.
  • Standard: Platform can manage payout, customize the flow of funds. An account with a Standard account is able to log in to Jokul Dashboard to view their transaction history and account balance. Liability for partner KYC/ KYB is on Platform.

2. Accept Payment

This part describes how to accept a payment, route part or all of the funds to your partner’s account, and (optionally) move a portion into your own balance. How funds from payments are allocated between accounts depends upon which approach is used. You can use Jokul Direct or Jokul Checkout to accept payment. Here an example of creating a payment for your partner account:

Partner List

3. Payout your Partner

As a Platform, you can request to payout money from your partner’s balance account for any purpose e.g: withdrawal, refund, paying vendor/supplier, etc.

Partner List

Understanding Account Balances#

Both your platform account and a partner account are still just Jokul accounts, each with their own, separate account balance.

All Sub Account can have balances in two states:

  • pending, meaning the funds are not yet available to pay out.
  • available, meaning the funds can be paid out now. Notes: Available balance is depends on what payment channel being used, e.g Virtual Account aggregator can be paid out D+1 working day

Balance Dashboard#

You can monitor all your partner balance here:

Partner ListPartner Balance

Preparation#

  1. This feature currently only works for Aggregator Merchant, meaning that your funds are settled from acquiring to Jokul, then Jokul will forward the funds to your account.
  2. You have activated the sub account service when onboarding to Jokul.
  3. Sub Account currently only works for integration with:
    • Jokul Checkout (Virtual Account)
    • Jokul Direct (Virtual Account)

Then you are good to go!

What's next?#

Start the quick and easy integration process with Jokul Sub Account. Learn more here.