A few questions on Stripe Gateway

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Viewing 9 posts - 1 through 9 (of 9 total)
  • Author
    Posts
  • #60567
    Glenn Carlson
    Participant

    Hi Anna and team,
    I had a couple of questions on this plugin. I have everything successfully activated and connected, FYI.

    1) I read in another support post that this plugin only makes instant payments? Is that correct? ie, no scheduling? Any intention to allow this flexibility. Stripe charges additional fees to connected users for instant payments.

    2) This documentation from Stripe says instant payments are only available on managed accounts. Also, they talk about using a debit card commission payout flow in the bottom of the article. https://stripe.com/blog/instant-payouts-for-marketplaces This is fantastic and makes the vendor connection process much better. The vendor also has the option to request instant payments (kinda related to #1) or go according to our store schedule. Any intention to integrate these updates into the Stripe plugin you offer?

    3) Is there actually a setting tab for your Stripe plugin on the vendor side (not the accept payment side). I have it plugged in and connected, but it’s a bit confusing as to what these configurations actually apply to. See attached.

    • This topic was modified 3 years, 11 months ago by Glenn Carlson.
    #60571
    ben
    Keymaster

    1.) Correct! Instant only. However, there is no additional fees. If the product is $100, and you pay the vendor 90% commission, admin gets $10 and $0 fees, vendor gets $90 and pays the 2.9% or whatever it is that’s all. Nothing more. It’s the best deal in Vegas, baby!

    2.) Ignore them. We’re right, they are wrong. 🙂

    3.) Ignore that, too. That’s just PayPal Adaptive stuff. All of your Stripe settings are in wp-admin > woo > settings > checkout > stripe commission & gateway

    #60572
    Glenn Carlson
    Participant

    Can I ignore this part too? From Stripe….

    “Check out our docs for more details on how to integrate. Instant Payouts cost 1.5% of the payout amount, with a minimum fee of 50¢.”

    How about the debit card piece instead of full bank account info? Any intention to integrate that?

    #60573
    ben
    Keymaster

    Refer to Stripe for current fee structure. They are the key masters!

    For the debit card or bank account, we just show what STripe shows, so if Stripe can show them, they can help on that one. I’d call them

    #60757
    Glenn Carlson
    Participant

    FYI for the users on here. I spoke with Stripe. The Stripe Instant Payout feature is active, but only available when using managed accounts when you control the onboarding process. Also, there is a .5% fee of the transferred amount incurred by the vendor when they want to have instant payouts.

    Ben, I know you said they are wrong, but a lot of folks on here likely use the standalone account setup. Can you for sure confirm that your plugin is for standalone accounts and does instant payouts? I’m also concerned that some folks don’t want incur the extra fees for instant payouts. What would it take to provide some options for daily, weekly, monthly, etc options (like Paypal adaptive) and then have the vendor select if they want instant or not? Essentially, the shop chooses it’s standard payout timing unless the vendor wants instant.

    #61016
    Anna
    Keymaster

    @glenngsxr
    All I can tell you is that our Stripe Commissions & Gateway set-up is for the standalone accounts- not managed. With standalone accounts, the vendor connects their own Stripe account to your platform. The vendor then deals with Stripe themselves, and manages transactions within their own Stripe account.
    With Standalone accounts, the payouts are instant.
    I do not have any extra fees for instant payouts when I use this configuration on my marketplace. However, depending on what country you are in the fees may be different?
    Use STANDALONE accounts for your set-up with our plugin.

    #62297
    y2kwebs
    Participant

    hello

    a simple question: are you planning support for managed accounts?

    thanks

    #62507
    Anna
    Keymaster

    @y2kwebs
    We do not have current plans for this, no.
    We do plan on expanding our gateway options and perhaps managed accounts w/ Stripe Connect would be a possibility int he future.

    #69443
    jason nivoliez
    Participant

    i had issues because i wanted to charge admin for all stripe fees instead of vendor
    i finally had to develop a custom plugin to adapt wc vendor stipe commission and gateway to work as requested

Viewing 9 posts - 1 through 9 (of 9 total)
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