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.
The information on this forum is outdated and in most instances no longer relevant. Please be sure to check our documentation for the most up to date information.
Thank you to all of our customers!
- This topic has 8 replies, 3 voices, and was last updated 7 years, 12 months ago by
.
-
Posts
-
Hi Ben,
We don’t want the main Stripe account to have anything to do with the payments, so we’re looking to pass the payments on completely to the vendors.
From the Stripe documentation here, there are two methods to making charges in Stripe Connect: 1) Charging directly, and 2) Charging through the platform. The documentation for this plugin makes it look like it’s doing #2, but I’m hoping it’s capable of doing #1?
If you mean, that 100% of the purchase price of a product on your website goes directly to the vendor, that’s really easy. Set your commission rate to 100. Stripe will give you nothing and give everything to the vendors. Easy stuff! 🙂
Hello Ben,
Could you help me to understand how do payment methods and charges work?
If I would like to charge 10% of the purchase price, 90% will go to vendor. So firstly, if I think correctly, 100% of funds from the payment will goes to our platform’s account and then 90% to vendor’s connected account.
In this case, who is responsible for transaction fees? Will we be charged for full funds or just for 10%?
Can payment funds be separated straight away, so vendors get 90% directly to their PayPal or Cards and pay all necessary fees, so our platform’s account will not hold someones money and will be charged just for received 10% from the payment?
Hope I defined my question properly.Thanks in advance for help.
In Stripe, if your commission rate is 90%, then:
100% of the funds go to the vendors account
Stripe then deducts 10% of the funds and sends them to admins account automatically. No fee for admin.
The vendor keeps the remaining 90% and pays all of the fees.In PayPal, if your commission rate is 90%, and you are instantly paying vendors rather than scheduling payments to vendors, then:
You get 10% and you pay fees on the 10%
Vendor gets 90% and pays fees on the 90%Hi Ben,
According to the documentation (https://stripe.com/docs/connect/payments-fees), charging through the platform would make the platform account responsible for fees/refunds/chargebacks, which we also don’t want. Hence the clarification on whether the plugin does platform or direct charging?
If you’ve opted to directly manage the accounts on your platform, you’ll still be ultimately responsible for any negative balances your users cannot cover.This is probably what you are reading. You arent directly managing the accounts on the platform, each vendor connects their own, you dont create their stripe account and handle all their details — they do. Vendors are responsible for their own chargebacks, admins are not. 🙂
- The forum ‘Stripe Commissions & Gateway Support’ is closed to new topics and replies.