How are the payments moving (from buyer to supplier)?
Following steps explain the payment transfer process from buyer to seller:
- Buyer places the order & pays for it with any of the payment methods provided by the marketplace
- After order is placed, seller can view the details in Supplier dashboard under Sales tab option Sold Items (Navigation: Supplier dashboard >> Sales >> Sold Items)
- Once the Payment Status is Confirmed, seller can change the Order Status to In-progress/shipped/delivered on the Order Details page
- On receiving the notification from the seller about order status update, the admin marks the order as completed under the Vendor Orders tab in the admin panel
- As the admin marks the order as completed, 2 transaction updates appear in the Seller dashboard under the My Credits tab (Transaction 1: order value excluding tax credited to seller; Transaction 2: commission debited from the credited amount)
- To withdraw the credited amount, seller can visit My Credits section, check the available balance under Current Balance tab, and select the Withdraw Request option, and then fill the amount to withdraw (presuming bank details are pre-filled)
- Admin can view withdrawal request from sellers under the Orders tab, in Withdrawal Request section (these requests can be approved & denied by Admin based on order status)
- If the admin approves the withdrawal request, the requested amount is transferred to seller’s bank account
Note: Admin has the authority to decide the frequency & maximum/minimum value of the withdrawal requests.