MultivendorX
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Posts
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Hi,
I’m trying to test Stripe Connect capability on my website. I want to have Admin Fees as 30% and the rest to go to Vendor. I am even using Stripe as my checkout option for customers. Everything is in Test mode, and I have configured it correctly.
Test payment is going through, and correctly shows up as full amount in Admin’s Stripe account. But it doesn’t show anything in the Vendor’s Connected account. Do I have to make payouts manually? If so, how do I do that? I don’t see any options in the “Commissions” tab either.
Additionally, the documentation (https://multivendorx.com/docs/knowledgebase/stripe-connect/) mentions setting “Stripe Connect” as Commission Disbursement method, but as seen in attached screenshot I’m not getting that option.
Please clarify how I can properly use Stripe Connect to charge 30% Admin Fees and pass on rest of payment to Vendor.
Thank you. 🙂
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@embpri Not to worry.
As you want the admin to receive 30% commission then you need to set the Revenue sharing mode as Admin fees and the commission type as percentage and commission amount as 30 (https://prnt.sc/lcMX-bT8nrZA) under the commission tab of the Settings submenu.
Then set the disbursement method as per your choice from the Disbursement tab of the settings submenu. To set different disbursements of vendor commission related settings you just need to go to admin dashboard>>MultiVendorX >>Settings >>Disbursement (https://prnt.sc/6HB-PGzO8D4W). Here you can set a disbursement schedule, disbursement threshold amount etc.
Once the admin sets a disbursement schedule then the vendor commission will be disbursed as per that. In your case as you are using stripe connect hence the vendor commission will be transferred automatically to the vendor accounts once you (the admin ) set up the disbursement Schedule.
Kindly refer to this document to know the details of disbursement of payments in MultiVendorX https://multivendorx.com/docs/knowledgebase/disbursement-of-payments/.
If you need any further assistance please let us know. -
Hello,
Thank you for your reply. I am still facing some issues which I require assistance with.
I am trying to open a marketplace using Stripe Connect where my platform/admin is based in India, and I’m trying to pay out to vendors internationally (basis Stripe availability).
Now I tried to test payouts using manual withdrawal option, but I am facing errors.
I wanted to know: how does MultivendorX handle Stripe Connect payouts? Does it create Direct Charges? That seems to be the only option that Stripe supports for making cross-border payments to vendors.
Also, does “Admin Fee” equate to “Application Fee” (application_fee_amount) in Stripe?
Can you please tell me if I will be able to use Stripe to make cross-border payouts?
Thanks. 🙂
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@embpri You can go through this documentation to know about the limitations of stripe connect from India https://support.stripe.com/questions/stripe-india-support-for-marketplaces.
For further help, it is recommended to contact the stripe team, they can inform you whether you can achieve the into to international payout in your account.
Also, as you have said that you are facing issues for payout through stripe connect kindly share the errors with us so that we can help you to resolve those.
Regarding the commission part, the admin fees in Commission settings of MultiVendorX refers to the admin commission amount.
For example – If you have set the revenue sharing mode as admin fees and commission type as percentage and commission amount as 10 then when an order of amount 100 will be placed the admin will receive( 100*10/100 =10) as commission and rest (100-10 = 90) will go to the vendor account.
To have a clearer vision on the revenue sharing mode in MultiVendorX you can go through this doc https://multivendorx.com/docs/knowledgebase/commission-concept/#nav-4. -
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The topic ‘Cannot select “Stripe Connect” as disbursement method.’ is closed to new replies.