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How Vendors Are Getting Paid? Rate Topic   * * * * * 1 votes

 
  • makneto
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Posted 21 July 2015 - 12:24 PM #1

Hi,

We are setting up our Multi-vendor site, and we came up with a basic question that we are not able to understand.

How vendors are getting paid? We already set up the payment methods (credit card and paypal) with our company information but we don't see a place for the vendor to introduce this information. How are they supposed to get paid without this info?

Can you please clarify?


Thanks for the help!

 
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Posted 21 July 2015 - 03:13 PM #2

We are setting up our Multi-vendor site, and we came up with a basic question that we are not able to understand.

How vendors are getting paid? We already set up the payment methods (credit card and paypal) with our company information but we don't see a place for the vendor to introduce this information. How are they supposed to get paid without this info?

Can you please clarify?


The money goes to the merchant account of the root store administrator who then manually distributes funds among the vendors according to the history of orders, which is tracked and managed separately for each provider.

We are working on the Stripe Connect integration now. The plugin will distribute fund among vendors automatically. If you are interested in details, feel free to contact us

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  • makneto
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Posted 21 July 2015 - 03:21 PM #3

Thank you for the clarification.

We will get in touch with you about this solution shortly.

 

Posted 21 July 2015 - 04:55 PM #4

hi makneto,

there is a ready module for this feature - http://marketplace.c...-by-paypal.html

best regards,
WSA team

 
  • CreationX
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Posted 21 July 2015 - 09:39 PM #5

Hi,

We are setting up our Multi-vendor site, and we came up with a basic question that we are not able to understand.

How vendors are getting paid? We already set up the payment methods (credit card and paypal) with our company information but we don't see a place for the vendor to introduce this information. How are they supposed to get paid without this info?

Can you please clarify?


Thanks for the help!


Yeah I found this kind of ridiculous not to be in the main multi-vendor options. I am going to be running a store where the buyer pays the seller - not the buyer pays the store and the store pays the seller. That introduces too much work, moderation, and liability. The Buyer and the Seller could be the same person, pays the store owner and then the store owner pays the seller. Buyer reverses the payment and the store owner takes the complete brunt of the chargeback while the seller gets paid funds. I see there is a delay option, but with paypal, they allow 180 days to conduct a chargeback (so do credit card companies).

I have seen the paypal adaptive module and I am a little surprised at the price for it - but it looks like I am going to be forced to purchase it.

 
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Posted 22 July 2015 - 10:21 AM #6

I have seen the paypal adaptive module and I am a little surprised at the price for it - but it looks like I am going to be forced to purchase it.


What do you think about Stripe Connect? Is it available in your country?

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Posted 22 July 2015 - 07:31 PM #7

What do you think about Stripe Connect? Is it available in your country?


Most of my customer base deal in Paypal. What exactly is Stripe Connect?

 
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Posted 23 July 2015 - 08:51 AM #8

Most of my customer base deal in Paypal. What exactly is Stripe Connect?


Please check

https://stripe.com/connect

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  • makneto
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Posted 23 July 2015 - 08:59 AM #9

Please check

https://stripe.com/connect


The company looks good but I don't see any advantage over Paypal Adaptive Payments.
Is more, Stripe does not accept payments from South America, Russia and only supports few European countries. I believe that they will expand but right now this makes a big difference.

 
  • CreationX
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Posted 23 July 2015 - 02:29 PM #10

Paypal actually has an enormous amount of competition, however even with high commission rates, it still maintains huge market share. With its recent split from eBay, it looks like they are going to be focusing on maintaining that market share.