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- This topic has 3 replies, 2 voices, and was last updated 7 years, 4 months ago by
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Hello, I would like to know why stripe would be the most adapted for a marketplace? When a buyer makes a payment, the seller takes care of the fees? Most people today use paypal, how to get them to use stripe? Many people in the marketplace, are self-employed without having a business, are they obliged to have a professional number to open a stripe account and receive money or as paypal each is free to use it for personal purposes ? Last question, is it possible to disable the paypal payment solution with wc vendor? So vendors would be forced to create a sprite account to sell their items.
Another question (sorry): if I check the option the seller automatically receives his commission with paypal, paypal will take commissions sune first time on sale, then a second by transferring money from my paypal account to that of the seller? Or when the buyer makes the payment, I get a part of the commission (and paypal takes his commission on what I get) and the seller automatically receives his commission and paypal takes his commission on that of the seller directly? I would like to know if using the automatic payment of the commission avoids paying twice the paypal commissions (when I receive payment, and when I pay the seller)
Hello,
1.If you use or Stripe Commissions & Gateway Plugin https://www.wcvendors.com/product/stripe-commissions-gateway/ Then you, the site admin, creates a platform account in Stripe Connect. This is the marketplace master account. Vendors then can “connect”their own Stripe account to your platform. As the marketplace admin, you then can receive your portion of the commissions form each product sale, and the vendors receive their commission portion from each product sale. This occurs at checkout when the custom pays for the product(s) via Stripe. You do not need another plugin for the Stripe checkout.. ours takes care of both.2. Vendors cover the Stripe fees.
3. Tell people that PayPal sucks? Seriously, though, Stripe is much easier. A vendor can provide their own policies for shipping, returns, etc without PayPal crawling up in their business and authorizing returns and snatching funds because a buyer submits a bullshit claim, Stripe offers credit card fraud security protection, funds are deposited into the vendor’s bank account rather than sitting vulnerable in Paypal’s system… I suppose I could go on but I am biased because I loathe PayPal and like Stripe very much. I know PayPal is ubiquitous so it can be a hard sell to vendors… but Stripe is SO EASY and just MAKES SENSE.
4. This might depend on your country. Some countries require more information than others. In the USA, you can operate a Stripe account for your business as a sole proprietor, and you only need to enter your name, address and last 4 social security # for identification. You could also use it straight up for personal purposes without any business identity. Again- your country might have different requirements.
5. Yes- you can disable PayPal fields on the WC Vendors PRO forms, and also in WC Vendors free you can get rid of the paypal email field. The capacity to use paypal is still in WC Vendors, but if you do not have it active in WooCommerce for checkout (woocommerce > settings > checkout… disable paypal), then it will be dormant.
I also have code you can use that prevents a vendor form being able to list an item until they have connected a Stripe Account. This will prevent the error of a vendor’s product being sold who is not yet set up with Stripe.6. With paypal I beleive you will pay fees regardless. However, if you use PayPal adaptive payments and have the commissions split at checkout, you will pay the paypal fees for the funds you receive- the vendor will pay the fees on the funds that he/she receives. I believe instant payments will prevent you from paying again to transfer to the vendor, though. Overall, if you transfer or receive funds in paypal, you will pay a fee.
- The forum ‘Stripe Commissions & Gateway Support’ is closed to new topics and replies.