Wordpress Vendor plug in - Payment query

Discussion in 'Ecommerce Forum' started by PCLTD, May 10, 2019.

  1. PCLTD

    PCLTD UKBF Contributor Free Member

    31 4
    Hi,


    We are looking at getting a new website made this month, initially going for wordpress with a vendor plug in along with card payment option and PayPal.

    The website will be a UK site for one of our international suppliers. We will show case their products on the website, market them and take sales. I run a couple more e-commerce companies but have never looked in to the vendor/drop shipping website features before.

    My query is when it comes to payment, is there a way we can get our commission direct to our PayPal or bank account without receiving the full payment for the product?

    Reason being the products range from £1000 - £6000 so we will quickly hit the VAT threshold if we are taking full payment and initially we would like to avoid this. If we were to get the commission separately then we will be below the VAT threshold.

    So basically we need customer to pay X amount, 80% goes to one account & 20% to another.
    Whether that be a holing account or similar?

    Any advice appreciated.
     
    Posted: May 10, 2019 By: PCLTD Member since: Aug 3, 2018
    #1
  2. Nochexman

    Nochexman UKBF Enthusiast Free Member

    1,850 286
    Hello PCL. I believe paypal provides this facility. The way it would work is that you would have a master account and your supplier would have a slave account. Subject to how you set it up, you can set it up just as you describe. The slave account receives the full payment minus your commission (that way you are not contracting with the purchaser). You just have to be clear about how to set-up the parameters. For example, how will you settle refunds and partial refunds? What happens if there is a chargeback? Is commission applicable to the whole amount or only part? Are the charges applied included or excluded within the commission calculation? However, I suspect that your bigger issue will be the size of your transactions - greater than £1000 - which is liable to be outside of paypal's comfort zone. Under the circumstances you might need to approach this differently, that is with a different payment processor. I would begin by forecasting how much your total sales volume and value will be. Best of luck!
     
    Posted: May 10, 2019 By: Nochexman Member since: Jun 14, 2011
    #2
  3. Ray Breen

    Ray Breen UKBF Newcomer Free Member

    9 0
    Hi,

    Check out the Woocommerce plugin called wc-marketplace, they offer an addon by stripe, which will do what you want, which is called - wcmp-stripe-marketplace
     
    Posted: May 10, 2019 By: Ray Breen Member since: May 3, 2019
    #3
  4. PCLTD

    PCLTD UKBF Contributor Free Member

    31 4
    Thanks for the feedback.

    The Stripe set up could be just what we are looking for.
    Only issue I can see if our supplier is based in Europe, I presume (could be wrong) that they will have to send the funds to a UK bank account?

    So X amount to our UK account and then the remaining to an EU account.
     
    Posted: May 10, 2019 By: PCLTD Member since: Aug 3, 2018
    #4
  5. Ray Breen

    Ray Breen UKBF Newcomer Free Member

    9 0
    Ah yes, not sure what the situation is with trading in different currencies. it may be worth you getting an account in their currency, to keep it simple
     
    Posted: May 10, 2019 By: Ray Breen Member since: May 3, 2019
    #5
  6. Elle Rish

    Elle Rish UKBF Newcomer Free Member

    12 1
    Hi! If you are searching for a payment gateway solution for WordPress that would automatically and instantly split vendor commissions and pay directly with your accounts, PayPal Adaptive Payments is one good choice.

    If you need some other features, you can just check its product page and see if it can solve your problem.
     
    Posted: Aug 7, 2019 By: Elle Rish Member since: Aug 2, 2019
    #6