Josiah Wallingford Posted August 9, 2017 Posted August 9, 2017 I can't seem to find any documentation on commissions and exactly how the system works. Here is how I believe it would work ideally for me (at least I think this would be ideal): The seller enters their own payment gateway information. Upon sale the fund split is automatic, % commission goes to the seller and the other half goes to admins accounts The reason I am thinking this is due to transaction fees so that we are not paying these fees twice, once for the sale and then again for the commission split.
opentype Posted August 9, 2017 Posted August 9, 2017 It doesn’t work like that. The sale goes 100% to the site owner and the site owner has to pay out the commission later on. (I am not sure your argument about the fees is valid or transactions like that even possible or a good idea, but since it doesn’t work like that, I guess it makes little sense to debate it.)
Josiah Wallingford Posted August 9, 2017 Author Posted August 9, 2017 Does the site owner pay out the commissions manually through logging into their payment gateway or is there a way to pay those commissions out through IPS?
Joel R Posted August 10, 2017 Posted August 10, 2017 7 hours ago, Josiah Wallingford said: Does the site owner pay out the commissions manually through logging into their payment gateway or is there a way to pay those commissions out through IPS? Tagging @superj707 since I know he does commission splits on his community, so he can explain well.
SJ77 Posted August 10, 2017 Posted August 10, 2017 Hi @Josiah Wallingford you are actually correct about paying fees twice. Sort of, I'll explain what happens is you setup the available payment gateways. You get 100% of the income (after fees) Customers purchase and IP Commerce keeps track of how much is owed to each seller using the predefined split. Seller can then request payout and you then pay the seller and get hit with the mass payout fee. The trick is to avoid double fees by passing 1fee on to your seller. IP commerce lets you charge a transaction fee of a fixed amount in addition to the split% like in my case I always charge $0.20 per transaction no matter what. If it's a $3.00 checkout or a $30.00 checkout I get my $0.20 plus I get the percent split owed to me. Hope that helps.
Josiah Wallingford Posted August 10, 2017 Author Posted August 10, 2017 Thank you very much @superj707 . Why the $0.20? Is that because stripe charges $0.20 per transaction or something?
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