NOTICE: We've Moved to a Ticket System for Support
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.
If you are a WC Vendors Pro customer please open a support ticket here. If you are a WC Vendors user please open a support ticket on the Wordpress.org forums.
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- This topic has 7 replies, 4 voices, and was last updated 7 years, 1 month ago by
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Excellent work building this system. 🙂 We are using the PRO version. We are almost finished setting up our site, and vendors sign up this week. I have tried to read everything I can about paying vendor commissions with with Stripe. I want to make sure I fully understand how it works:
1. A customer places an order for several products from several vendors (VENDOR1, VENDOR2, VENDOR3) all on one order at our STORE.com
2. The customer’s card is charged via Stripe. They see only one charge on their statement from STORE.com for the entire order.
3. The transaction is split between STORE.com and each vendor. Whatever the agreed upon split is, the STORE.com keeps its share, and VENDOR1, VENDOR2 and VENDOR3 each immediately receive their portion due per the product pricing of each line item of the transaction, less the 2.9% or whatever fees STRIPE charges. (As long as each vendor has signed up with Stripe.)
Correct?
I need to clarify #3 if you don’t mind. So Stripe charges 2.9% plus $.30 cents per transaction right? Do those charges get split up among the vendors only? Or does it get split among vendors and STORE.com?
Hello,
The vendors are responsible for covering the transaction fees (2.9% plus $.30 cents per transaction). The site Admin does not pay the transaction fees.So glad I found this thread as it answers a very important question for us.
@FERVOUS, would you be able to confirm whether the information provided here in Stripe’s documentation is irrelevant for users of the WC Vendors Stripe Commissions & Gateway?Namely, that by using the WC Vendors gateway, a) the default setting is that each transaction is split between store.com and as many vendors as are on the checkout (and that we don’t need to somehow enable this setting?); and b) whether or not the note at the bottom of that page (“Creating separate charges and transfers is only fully supported when both your platform and the connected account are in the US. If your platform or the connected account is outside of the US, you can only use this approach for less than 10% of your total volume”) does not apply to us?
I attempted to test this myself, but it appears I can’t do so until I’ve activated our Stripe account with a live bank account.
Thanks.
Nadav,
The default settings *is* as described here for DIRECT CHARGES: https://stripe.com/docs/connect/charges#direct-charges
as we use the Standalone accounts for WC Vendors Stripe Commissions & Gateway- NOT the managed accounts.Therefore, your concern here in question b) is not relevant to our Stripe Connect set-up with the WC Vendors Stripe Commissions & Gateway. That is only if you are using the third option there for separate charges and transfers, which you will not be doing. That would be more like the scheduled payments with paypalap, which is not part of our Stripe plugin at this time. I think that is a relatively new feature in Stripe Connect, and it would, I think, require the managed accounts instead of the standalone accounts.
- The forum ‘WC Vendors Pro Support’ is closed to new topics and replies.