How do payments split between the portal and different vendors?

Answer

As per current system, all the payments go directly to the Admin’s account (Marketplace owner). The payments get split between the Admin and the vendor according to commission setting done by webmaster.

The commission settings can be product, category or vendor specific. Once the payment is credited in the seller’s wallet after the product status is marked as complete by the Admin, the Admin’s commission will be debited from the vendor’s wallet. The vendor will raise a withdrawal request and the Admin will pay the vendor off the site via direct bank transfers. Once the transfer is complete the admin will approve the request and the same amount will get debited from the vendor’s wallet.

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Default Asked on June 24, 2016 in Payments.
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