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- This topic has 20 replies, 4 voices, and was last updated 8 years, 4 months ago by
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Hi there,
I have a question about Stripe before buying – apologies if this is answered elsewhere; I have had a read through a lot of the other posts and documentation but I still wasn’t clear. I want to set up a checkout where the customer can only see the full product price they are paying and not how much commission I (site owner) will be receiving (but I do want the functionality of the vendor being paid their share automatically – i just don’t want the customer to know the ins-and-outs of it! ;)). What does the customer see using this gateway? I have only just realised that if I used paypal parallel payments then the customer would see the commission I am receiving. I was hoping to use PayPal chained payments – will this be available in the pro version soon?
many thanks for your help
PipThat’s great! That’s exactly what Stripe does. 🙂 No showing of commissions like PayPal does. 🙂
Cheers
Ben
Hi Ben,
Thanks for the quick response.I’ve been reading Stripe’s info on connected payments and it looks great – I just have 2 more questions.
1. I just wanted to clarify which of the below methods your plug-in uses (i’ve copied these from Stripe’s documentation on Connect) –
A. Create the charge directly on the connected account.
B. Create the charge on the platform’s account, but set a destination parameter identifying the Stripe account that should receive the funds from the payment.I’d like it if it was option A. so the vendor is responsible for chargebacks and refunds – is this the case?
2. Stripe talks about setting the ‘application fees’ so that the site owner can receive payment but Stripe’s example uses a set amount. Am I able to set a commission percentage instead that I will receive automatically each time a sale is made? And can this % be different for different vendors, even if the customer buys products from both of them in the same transaction?
thanks very much for the guidance!
1.) Stripe splits the payment between both of you. How that works for chargebacks, I’m not entirely sure. Stripe would be able to assist you to answer this question.
2.) Another better question for Stripe. 🙂
Sorry I wasnt much help at all on this one! 🙂
thanks Ben,
I will get in touch with Stripe to dig a little deeper and post what I find out!
Just to clarify one more thing – do any coupon discounts still just get taken out of the site owner’s commission amount? i.e. If I offer 10% off everything on the site and take 20% commission from vendors – on a £100 item, £10 is taken off their order, buyer pays £90, I get £10 and vendor gets £80 minus the stripe fees?
thank you again and sorry I have a lot of questions! 🙂
The coupons in Pro can be configured to deduct commission after, or before, the coupon is applied. In Free, the coupon just reduces the cart price and don’t really work properly. 🙂
Pip,
Did you find an answer to #2? It seems it may be possible. I can’t find a solid answer either.
Ben,
In the stripe plugin is there an option to add the fee amount for the site owner? I did not see any screenshots with that. Or is that setup in the stripe account?
@goldwolf — If you’re using WC Vendors Free, then no. But if you use WC Vendors Pro, you can set a commission rate + fee in the commission options.
Hi!
Thanks for your answers to the above! Looks like I will be upgrading to pro then ;)!
I have heard back from Stripe and here is what they had to say –‘Stripe has to receive a fixed amount for an application fee, not a percentage amount. One thing you can do to get around that limitation, is have your development team write some code that will calculate the percentage you need to charge in order to pass us a fixed amount for processing.’
So I’m still really confused as to what your plug-in currently offers. In WC Vendors using PayPal I can set a commission rate I will receive per vendor – how does this currently work with your stripe plug-in so the site owner receives some money from each vendor for their efforts? 😉
I then asked Stripe to clarify how the fees etc get distributed when there are multi vendors in one transaction and alarmingly this was their answer (as I definitely want to have multi-vendors in one cart!) – Have you designed a work around to this?
‘The application fee you pass will only be applied to one charge, so I would need to know more about how your business works to be able to answer your second question accurately. Do you plan on having a shopping cart feature for your website, and your sellers will have all of their items mingling on the same pages for customers to pick-and-choose from? If so, this may not work well without some extensive coding that separates the charges and assigns them to the appropriate sellers based on what was purchased. This will allow you to collect your application fee from each individual seller.’
Thanks again for your clarification on this. I’m really wanting it to work for me so I don’t have to stick with paypal! 🙂
Yea, we already do that with Stripe. We do all the commission calculations and send the totals to Stripe. They wont be able to help you much on our OUR gateway is coded, because they dont have it and didnt write it. 🙂 Don’t worry, Stripe works perfectly and exactly as intended.
So the coding to send the fixed amount is there base on a percentage, but we need Pro and the Stripe plugin to make that happen? Correct?
Does the stripe plugin use the direct charging onto the vendor’s stripe account? Stripe calls this “Charging Directly”. I do not want to be responsible for payments and charge backs.
Thanks for all your help, great support!
That is correct. As an example, let’s say your commission rate is “80” which means 80% to the vendor, 20% to you, the admin. If the purchase price is $100, then we tell Stripe to pay you $20 and your vendor $80. Easy as that. 🙂
Stripe sends you your part, and the vendor receives their part directly.
Cheers
That’s all sounds great, thanks for clarifying. I’m taking the plunge and upgrading to Pro and getting this plug-in! 🙂
OK, I’ve read the above along with Stripe’s documentation on fees, but I’m not clear on how the transaction fees are handled? Does your gateway split up the transaction fees or does that happen after it gets sent to Stripe? I’m trying to figure out if the 30 cent transaction fee gets split or if everyone getting a payment gets charged 30 cents.
We just write the code. Questions on Stripe’s fees should be asked to Stripe. We dont control their fee structure or who pays what.
I understand; I’m trying to figure out exactly what your gateway does and it sounds like the transaction fees are handled after your gateway divides everything.
That would be my understanding of it, however we’ve learned not to advise people on gateway fees. We don’t control them, they are confusing, so we just stay out of the whole mess.
Why not test an order and find out? Seems the logical way. 🙂
I would use Stripe no matter what. PayPal loves to let customers get undeserved refunds, their support sucks, their product sucks. Stripe money automatically goes into your vendors bank accounts immediately, service is great, fees are reasonable.
I agree I do not want to use PayPal, but I currently use Braintree and because they are giving me free processing right now, they are especially appealing. 🙂 (My current cart doesn’t support anything fancy so I have to make payments manually.) I’m looking into all options. I need specific features and I will have custom work done to get what I want. I’m in full research mode and trying to get my marketing strategy and pricing structure set. I will report back if I find out how these transaction fees are handled. Thanks for your help.
I thought I’d report back with what I heard from Stripe. If I’m understanding correctly it sounds like only the merchant gets charged the transaction fee, then the funds are distributed to the vendors.
“The platform you are talking about is called Connect, and it’s a really great tool for managing market places.
Stripes fees for connect are 2.9% plus 30c per transaction. This fee is taken from the initial charge one of your customers makes.You can read more on this here: https://stripe.com/us/pricing
I will use an example to show what happens to a charge:
A customer makes a payment of $10
Stripe takes a fee of 2.9% plus 30c =.59c
You can take your marketplace commission from the original $10 charge. For example, you could charge 10% per transaction, in this case 10% of $10 = $1
This leaves $8.41 remaining that can then be transferred to your users”Edited to add this link – I missed it before, but it explains in more detail than the one they gave me above: https://stripe.com/docs/connect/payments-fees
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