Arcadier’s payment method was designed to allow the admin to immediately profit from all transactions that occur on the marketplace. However, we understand that sometimes, this method may not be ideal depending on the type of product/service being listed. We acknowledge that some of our users have requested for this to be a feature on our marketplace and it is definitely on our roadmap. In the meantime, there are some workarounds that you can use to charge your merchants on a subscription or escrow basis.
To charge your sellers on a subscription basis, this requires you to be the merchant-on-record (MOR*). This means that all payment will be credited to your account and then, you will need to re-distribute the payment to your sellers on your end. Do note that you are responsible for handling all disputes between buyer and seller separately on your end.
*Access our GitHub resources on MOR here.
Here are the steps that you can take to setup a subscription based payment system for your sellers:
- To be the MOR, you will need to integrate a generic payment processor. We highly recommend you get the help of a payment integration specialist to help you with the integration.
- When a new person signs up as a seller on your marketplace, toggle their seller visibility to “NO” under Sellersin the User Mgmt tab (At the moment, we do not provide the email notification that a new seller has signed up. You would have to check your Admin portal regularly for updates).
Alternatively, switch your marketplace to private for ‘Merchants only’ under Private Settings under the Advanced tab in your marketplace. Anybody who wants to be a seller will have to indicate their interest OR invited as a seller by you. They will have to sign up as a seller via the email invitation sent to them once you have verified them.
3. For more details on private marketplace, do refer to the Private Marketplace section of the help centre.
You can either use Chargebee or Freshbooks to help you with charging your sellers on a subscription basis. In this case, let us take a look at how this would work with Freshbooks;
1. Sign up for an account athttps://www.freshbooks.com/ and link your Stripe account to your new Freshbooks account. (You have the flexibility of using the same Stripe account connected to your Arcadier online marketplace)
2. Create a new customer profile on Freshbooks by accessing the seller details on the “Sellers” page in your Admin portal
3. Create a recurring invoice for the new customer profile. Freshbooks will invoice the new seller to inform them to pay for your subscription fee
4. Once the new seller has paid the subscription fee, you may then switch on the seller’s visibility to “YES” again
5. Repeat this process for every new seller that you would like to charge on your marketplace
“Escrow” payment system
To setup a delayed payment system to your sellers, this requires you to be the merchant-on-record (MOR). Similar to a subscription basis payment system, you will need to integrate a generic payment processor. We highly recommend you get the help of a payment integration specialist to help you with the integration.
This means that all payment will be credited to your account and then, you will need to re-distribute the payment to your sellers on your end. Do note that you are responsible for handling all disputes between buyer and seller separately on your end.
Alternatively, you can choose to use PayPal as your preferred payment method. PayPal has a neutral fund that allows payment to be withheld for up to 14 days if they are any disputes between buyer and seller. Payment will then be released after 14 days.
To find out more, visit PayPal’s website here: https://www.paypal.com/us/webapps/mpp/pad-get-pay