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As of August 31, 2017 (12am EST) our support forums will be retired (read-only), and we will be moving to a support ticket system. This will allow us to better organize and answer support requests, and provide a more personalized experience as we assist our customers.
For the time being, we will leave our forums open for reading and learning while we work on creating a more robust Knowledge Base for everyone to use.
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- This topic has 4 replies, 3 voices, and was last updated 6 years, 8 months ago by
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I’ve just purchased WC Vendors Pro. I would like to know how the payment system works. I’ve browsed the knowledge base and help forums but can’t find a general explanation.
Can someone give me an overview of where money goes when a customer buys a product? Does it go to admin first who then passes on a portion of it to the vendor? If so, can the vendor choose how they wish to receive payments from admin (eg. select the money to go into their bank account, paypal account or bitcoin wallet etc) or must the vendor receive payments according to how the customer paid?
Alternatively, does WC Vendors Pro divide up the customer’s payment at the point of purchase into two separate streams, one going to the admin and one going to the vendor? (Such that both the admin and vendor need to have all different account type – bank account, paypal, bitcoin – in order to receive money from customers who may pay in various ways.)
I have one last question. I should probably put it to Paypal but if you know the answer, I would appreciate it. If the purchase of an item by a customer using WC Vendors Pro involves two transactions (eg. customer to admin, then admin to vendor) does that mean that Paypal will charge two lots of whatever the transaction fee is (eg. 2.5%) if Paypal is used in both transactions?
Many thanks in advance
@starbucks
Hello Heather,Can someone give me an overview of where money goes when a customer buys a product? Does it go to admin first who then passes on a portion of it to the vendor? If so, can the vendor choose how they wish to receive payments from admin (eg. select the money to go into their bank account, paypal account or bitcoin wallet etc) or must the vendor receive payments according to how the customer paid?
This depends on what payment gateway you use. If you want vendors to be paid instantly at checkout (commission is split at checkout- admin portion goes to admin; vendors’ portion to the vendors’ paypal or stripe account) then you need to use PayPal Adaptive Payments or our Stripe Commissions & Gateway plugin https://www.wcvendors.com/product/stripe-commissions-gateway/. In that case, the customer would need to pay using the paypal adaptive or stripe commissions & gateway for the vendor to receive the funds instantly to their respective account.
If you choose to pay your vendors manually- then at checkout, you have more options… you can use whatever WooCommerce compatible payment gateway(s) that you wish, and all funds from a sale would go to admin. Admin would check their commissions reports (wp admin > woocommerce > commissions) and see what was due to each vendor. Admin can then pay the vendors however, whenever on whatever schedule you and your vendors have arranged . So in that case, your vendors could decide to be paid however you arrange with them. 🙂Alternatively, does WC Vendors Pro divide up the customer’s payment at the point of purchase into two separate streams, one going to the admin and one going to the vendor? (Such that both the admin and vendor need to have all different account type – bank account, paypal, bitcoin – in order to receive money from customers who may pay in various ways.)
Some of this is answered above– but if you have the instant payments, then the vendor(s) would need to be connected to Stripe if the customer paid via Stripe (using our plugin) or have entered a paypal email if the customer paid via email. Otherwise, the payment will go to admin, and the due commission for the vendor is shown in the commissions report.
If the purchase of an item by a customer using WC Vendors Pro involves two transactions (eg. customer to admin, then admin to vendor) does that mean that Paypal will charge two lots of whatever the transaction fee is (eg. 2.5%) if Paypal is used in both transactions?
If PayPal can charge a fee- they do. So yes- both transactions will be charged a fee from PayPal.
Thank you for explaining this Anna! And for letting me know about Paypal also.
I appreciate it soooo much.Anna, after some deep thinking, I’ve decided to create my marketplace website so that it is a free service provided to vendors. As admin, I won’t be charging any fees or commissions on sales.
Because of this, I don’t want any involvement in the transactions but rather all transactions to occur directly between the customers and vendors.
I also want individual vendors to be able to choose the payment method(s) they will accept from customers, and for those options to include bank transfer, credit cards (MC and Visa), PayPal and bitcoin.
What is the best way for me to create these payment options for vendors on my website and do it so that I’m not involved in transactions and therefore I’m not charged any transaction fees?
Thanks again
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