9 replies, 3 voices Last updated by Profile photo of Frank Frank 1 month, 1 week ago
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  • #35657 Score: 0
    Profile photo of Jill
    Jill
    Participant
    @jraykovicz

    I know there is a wealth of information on Stripe, but I have trouble finding documentation/help on Stripe in “layperson terms”. Please note I am not a programmer/developer, I am the site’s owner and was dependent on a web developer who is no longer working with me.

    Using WCV Stripe Commission Gateway 1.02. and WC Pro 1.3.2

    I want to pay vendors commission using Stripe Connect, but I do not believe Stripe was set up correctly. The way I want it to work is: in the event of an item being purchased, the sale proceeds would go into my Stripe account and the net proceeds, i..e. 85% of the sale price, would then be transferred to the vendor, aka the vendor’s commission. (I keep 15% of all sale proceeds)

    ALSO, I WOULD EAT ALL OF THE STRIPE TRANSACTION FEES.

    i.e. Sale Price = $100.

    $100 hits my Stripe account, $85 is then transferred via Stripe Connect to the vendor’s account.

    When I set myself up as a test vendor, the complete opposite happened. The entire amount of $100 went into the VENDOR’S Stripe account, and 15% then appeared as a transfer to my Stripe Account. The vendor also was charged all Stripe fees.

    I looked up some Stripe documentation and this is what I found, It looks like it should have been set up like the SECOND one listed? https://stripe.com/docs/connect/payments-fees

    Creating payments
    There are two ways to create a charge on behalf of a connected account:
    1. Create the charge directly on the connected account.
    2. Create the charge on the platform’s account, but set a destination parameter identifying the Stripe account that should receive the funds from the payment.

    ALSO, the test vendor’s Stripe account had access to the customer’s billing information, including billing address, card expiration date, last 4 digits of card, etc. All you need to know what bank they use and someone can go on a shopping spree.

    I did NOT want vendors to have ANY access to this customer information. My original understanding was that I would “handle” all of this via my Stripe account and Connect was simply to pass through their portion of the sale proceeds.

    In other words, if something sells for $100, the ONLY thing I want to pass to the vendor via Stripe Connect is $15.

    Finally, I need to make sure I understand how REFUNDS work. I see an option to refund on behalf of the vendor’s connected Stripe account, but how is it handled if the vendor’s Stripe balance doesn’t have enough in it? Is there a way to “hold” the transfer of funds via Stripe to their bank account until we clear the refund window? (in this case customer has 3 days to request refund, otherwise all sales are final).

    Thanks.

    #35660 Score: 0
    Profile photo of ben
    ben
    WC Vendors Official Support
    265 pts
    @ben

    I want to pay vendors commission using Stripe Connect, but I do not believe Stripe was set up correctly. The way I want it to work is: in the event of an item being purchased, the sale proceeds would go into my Stripe account and the net proceeds, i..e. 85% of the sale price, would then be transferred to the vendor, aka the vendor’s commission. (I keep 15% of all sale proceeds)

    The way it actually works, is Stripe Commissions & Gateway pays the vendors, and then the vendor pays the admin the admins cut. This happens automatically at checkout. Stripe doesnt have the ability to put everything in your account and then pay the vendors from it. It’s only instant, at the time the place order button on the checkout page is clicked.

    ALSO, I WOULD EAT ALL OF THE STRIPE TRANSACTION FEES.

    That wont happen either with Stripe. You would have to adjust your commission payout rate to account for Stripe fees. A little math and you’ll get the right number. 🙂

    ALSO, the test vendor’s Stripe account had access to the customer’s billing information, including billing address, card expiration date, last 4 digits of card, etc. All you need to know what bank they use and someone can go on a shopping spree.

    Well, that’s between you and Stripe. 🙂 If you want Stripe to show less information, you would have to call them and find out if they even support that. We dont control what the vendor can see on their Stripe.com dashboard, that’s all them.

    Finally, I need to make sure I understand how REFUNDS work. I see an option to refund on behalf of the vendor’s connected Stripe account, but how is it handled if the vendor’s Stripe balance doesn’t have enough in it? Is there a way to “hold” the transfer of funds via Stripe to their bank account until we clear the refund window? (in this case customer has 3 days to request refund, otherwise all sales are final).

    Yup, you’d handle it that way. The vendors stripe balance would never have anything in it, because Stripe doesnt keep balances like PayPal does. Stripe would deduct it from the vendors bank account, the same way they deposit money into the vendors account.

    #35664 Score: 0
    Profile photo of Jill
    Jill
    Participant
    @jraykovicz

    ok, thanks. I just don’t feel comfortable providing a platform for someone calling themselves a “Vendor” to collect that level of personal information on people through my website.

    I understand this is a “Stripe” thing, but if it is a solution/feature you offer within WC Vendors, admins need to understand that their vendors, who they may not know that well, will immediately gain access to this type of customer information via Stripe Connect. Even if it’s an honest vendor, they may not have honest people working for them, or not have anti-malware on their computers.

    That’s how I see it, at least. Others may not view it the same way.

    Blame it on the fact that my credit/debit cards have been compromised at least a half dozen times….

    #35669 Score: 0
    Profile photo of ben
    ben
    WC Vendors Official Support
    265 pts
    @ben

    Understood. PayPal, too, would also show the vendor the customers information, so that would be the same as stripe.

    The other thing you could do, is to pay vendors manually. By not going with a gateway that automatically pays vendors their commissions, and customizing the Vendor Dashboard so they only see certain aspects of an order, you would maintain privacy between vendors and customers. Of course, if a vendor has to ship a product you’d still need to provide them the details they need in order to do so.

    #35670 Score: 0
    Profile photo of Jill
    Jill
    Participant
    @jraykovicz

    Yes, I thought of that…like pay them via Pay Pal manually, or even with a check. Bummer, because my whole business model was based on automatic commission payments. Yes, I have already customized the dashboard to show only email address. My buyers and sellers are all local so the security thing is big for me…most people are honest but I don’t want to be the one to provide a portal for the 1% who are not so honest, or want to do anyone harm in any way.

    THANK YOU…overall it’s a great plug-in..with phenomenal support. 🙂

    #35693 Score: 0
    Profile photo of Jill
    Jill
    Participant
    @jraykovicz

    Non-priority question, but to follow-up, there are “trusted” vendors I would be comfortable enough for Stripe Connect. (like my brick-and-mortar vendors) Theoretically I could offer the Stripe Connect option for some and do the manual option for others, correct? (I am thinking I could disable “payment” under store settings, and send my “trusted” vendors the Stripe Connect link after registration) The only other option (per Stripe) is a Stripe Managed account, but is Stripe Managed account feasible in the WC Vendor galaxy?

    #35697 Score: 0
    Profile photo of ben
    ben
    WC Vendors Official Support
    265 pts
    @ben

    You can collect money using the “normal” paypal gateway (not paypal adaptive) or the “normal” free stripe gateway from Woo. Then use our paypalap gateway to pay your vendors in bulk. That’d most certainly work! 🙂

    Stripe Managed is not an option. It could be, but you’d have to hire someone to code the entire system for you, probably be a few grand.

    #35706 Score: 0
    Profile photo of Jill
    Jill
    Participant
    @jraykovicz

    I am so sorry, but your reply triggered another question. Since I already have several (trusted) vendors on Stripe Connect, I would like to avoid moving them to another gateway. So could I keep those folks where they are? While still having the ability to pay those vendors who aren’t “Stripe-Worthy” in bulk, via your suggestion regarding the paypal gateway above? All I need is their paypal email, correct? In other words will WCV allow both options to collect/pay out commissions? Or is it one or the other? And, all this could happen while still using Stripe to process credit card payments for orders, correct?

    #35707 Score: 0
    Profile photo of ben
    ben
    WC Vendors Official Support
    265 pts
    @ben

    You could do that, but you’d have to hook into the code that puts the “Connect to Stripe” button on the Vendor Dashboard, and only run that hook if you authorize that vendor to have access to connect. Sloppy, but it could be done.

    Stripe sends commissions INSTANTLY. So, if your vendors havent connected, they dont get the money, it’s your problem to pay them later.

    PayPal funds can be sent INSTANTLY –or– on a schedule. Anything that is marked as “due” to the vendor, will get paid to the vendor, on that schedule you select.

    So, what this means, is those vendors that are not connected to Stripe, would get a scheduled PayPal payment at whatever schedule you set for them.

    #49891 Score: 0
    Profile photo of Frank
    Frank
    Participant
    @Sireel

    Hi I recently installed stripe connect and upon testing a sales transaction, the portion due to the vendor is flagged as paid but the portion due to the admin says Due! I am using testing WC Vendors free and will upgrade to the pro version upon a successful test.

    Is this due to the payment processing protocol and therefore when the payment is completed processing with stripe it will say paid for the admin portion and meanwhile the portion due to the vendor is paid out of my account?

    Or have I overlooked something.

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