Home Forums Stripe Commissions & Gateway Support Managed Accounts with Stripe Connect

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Viewing 9 posts - 1 through 9 (of 9 total)
  • Author
    Posts
  • #10363
    Parth
    Participant

    I am trying to using Stripe commissions & Gateway plugin for my website. I am describing what exactly I am looking for. Please let me know if I will be able to do that with this plug.

    –I am setting up a marketplace model where-in I am trying to set up Stipe connect payment gateway. I want to set up managed account model with stripe connect where the vendors will give their bank account info on the platform and I will create a stripe account for them and should be able to link to this plug in. Once a buyer buys a product, platform will receive it as a charge in form of stripe balance. I should be able to manually ask the plugin to release the payment, after I do that Stripe connect will deposit the referral fee less stripe fee into my account and deposit the remaining product fee to vendors account —

    Points to note here
    – Plugin should support stripe connect account with managed account setup.
    – Plugin should manually allow the platform to decide when should the vendor be paid.

    Please let me know if I will be able to achieve this with this plugin.

    Thank you,
    Parth.

    #10381
    WC Vendors Support
    Participant

    Hi Parth,

    Yup! You’re all set to go. Just install stripe, and when you need to connect a vendors account, login as the vendor (or use the User Switching plugin which is way easier) and go to their Vendor Dashboard > Settings > Connect to Stripe.

    Cheers

    Ben

    #10400
    Parth
    Participant

    Thanks Ben.

    From what I understand, you are trying to say is that I should replicate myself as a vendor by logging in using his merchant account credentials on the platform and the connecting with stripe.

    Is that right?

    If yes, then I am not looking for that. The “managed account” facility which stripe connect gives is such that I don’t replicate myself as a vendor but I myself as the owner of the platform create account for the vendor through my stripe dashboard. Would the plugin facilitate me in doing this? Also, the reason I want to go for managed account type is I want to schedule pay out to vendor or do it manually as per the needs. Would the plugin allow me to do this?

    Parth.

    • This reply was modified 7 years, 3 months ago by Parth.
    #10406
    WC Vendors Support
    Participant

    That it can not do. Stripe is all instant payments, there are no scheduling choices for it. I’m sorry 🙁

    #10414
    Parth
    Participant

    Thanks for the information.

    One last thing, does it concern to the plugin whether its a stand alone stripe connect account or managed stripe connect account or is it independent of that?

    In case if I create the vendors account like what you mentioned in the first post, is it possible to not add the “connect with stripe” button on the vendors dashboard? The reason behind doing this if that button is visible to vendor on his dashboard then it will create confusion as to why does he have to provide bank info and also register with stripe.

    #10416
    WC Vendors Support
    Participant

    Hi Parth,

    You can surely remove the connect to Stripe button, but then there is no way for you to connect the Vendors account. What we would probably have to have you do is create a special page, add a code to it, and then when you “Switch” to the vendors account, you then click the connect to stripe button and connect their details at that time.

    #10453
    Parth
    Participant

    Hi Ben,

    Thanks for letting me know of a way out.

    So as I am new to using woo-commerce and using plugins, I am having hard time figuring out how will the refund work here. I am trying to understand how to correlate the WC vendor plugin with stripe connect payment plugin.

    To be specific I a pointing towards the link :
    https://stripe.com/docs/connect/authentication …. The first method of authentication. The code is given but I am not able to understand the execution part of it. How to relate WC Vendor plugin with stripe plugin using this code to execute the refunds from the seller account.

    Parth.

    #10470
    WC Vendors Support
    Participant

    Hi Parth,

    In order to issue a refund, what I do, is copy the transaction number from the notes section of the order, and login to Stripe and search for that transaction key, and then click Refund. Whoever received the money is deducted and refund issued.

    We’ll be adding support for the automatic refund process within WooCommerce once we finish up with all the features for WC Vendors Pro which just came out a week ago. Once that is done, all you do is click “Refund” and the job is done. 🙂

    Ben

    #32489
    stephencirving
    Participant

    I’m a little confused by the answer. It sounds like you think managed accounts is the same as stripe connect. Managed accounts is different to stripe connect, even though it utilises it. I would also like to use managed accounts if possible, I think he was referring to this when removing the ‘connect stripe account’ button: https://stripe.com/docs/connect/updating-accounts. I would guess we need to replace with the: ‘register stripe account’ and am now trying to figure out how to collect the details. Am thinking either we need to amend the WC Vendors plugin or collect through a form and send to stripe separately, maybe I’m wrong and you did understand. As far as I understand we would need to collect the customers details ourselves, not connect their account with stripe connect.

    Here is the documentation:
    https://stripe.com/docs/connect/managed-accounts
    https://stripe.com/docs/connect/updating-accounts
    https://stripe.com/docs/recipes/on-demand-app

    The service is cool. It’s an addition to stripe connect if you hadn’t seen it yet. =D

Viewing 9 posts - 1 through 9 (of 9 total)
  • The forum ‘Stripe Commissions & Gateway Support’ is closed to new topics and replies.
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