Automated Payment Splitting: How secupay Supports Magnit in Germany
For the international personnel service provider Magnit, secupay handles the automated processing of fees and commission payments to German partners.
The challenge
Magnit is one of the world’s leading providers in the field of contingent workforce management. To enter the German market, the company was looking for a reliable solution for automated payment processing – specifically for handling commission and fee payments to German partner companies.
In Germany, Magnit collaborates with a network of staffing service providers who manage recruitment and temporary staffing on behalf of client companies. The key challenge: to make the billing of commissions and fees as efficient as possible while reducing administrative overhead for all parties involved.
The solution and cooperation
As a licensed payment service provider under the German Payment Services Supervision Act (ZAG), secupay handles the technical and procedural implementation of automated commission processing.
Here’s how payment splitting with secupay works:
- Companies searching for personnel receive a collective invoice and transfer the total amount to secupay.
- Via the online portal secuOffice, Magnit defines how the funds are to be split among the participating staffing providers.
- secupay then takes care of the automated distribution and payout to all involved staffing agencies.
- All incoming and outgoing payments are transparently traceable online.
As a globally operating company, we rely on dependable local partners. What we value about secupay is not only their extensive experience in the complex German payment market, but also their personal support – both in German and in English!
Can Kardas, Global Partner Management Associate
About Magnit Global Germany GmbH
Magnit is a global leader in contingent workforce management – the administration and placement of all types of external workers. Founded in the United States in 1991, the company is now active in more than 130 countries and employs around 3,100 people worldwide.
Website: magnitglobal.com