Split payments payment gateway for marketplace site

W

waseem.dawood

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Hi everyone,

i was hoping someone could shed more light on this,

I have developed a marketplace website [People sign up to sell and users buy]
Currently - They pay me, goes into one account and then manually pay the vendors, which is not the best way to do things,

I have heard sage pay and myGate has something to cater for this, but i can't find an article.

Does anyone know how i can use the split pay method for payments processing, whereby a vendor sells a product and the user buys the product (lets say, R50) so R40 goes to the vendor and R10 comes to my company

Is there a payment vendor for such an idea?

Thanks in advance guys!
W
 
Yep, best would be to contact them about it.

Adaptive Payments have been around for some time on platforms such as Paypal, but is still limited to certain groups of vendors and users. I have coded a number of these scripts for websites accepting Paypal. Not sure about how far Sage or MyGate would be with theirs, and if they even have it implemented as yet.
 
John_Phoenix said:
Sage should definitely be able to help you. Ask them directly, they'll also be able to supply you with api docs for integration, so you hit the ground running. Good luck!
Click to expand...

I will give them a shout out and see what they have to say,
One of them have to be doing this, becasue Uber SA is using some type of payment splitting module

Payfast - i called them, no luck - they dont offer it
 
Peach Payments support Bank Payouts (EFT) & PayPal. So you could split the payment on your system, and throught their api load the payout for supplier, then process once payment has been confirmed from user.
 
Even though split payments may make sense in this regard, it might complicate any refunds. The model that worked for a company that did this exact same thing is to pay vendors monthly in arrears. This sucks for the vendor for the first month as they have to send goods without immediate payment, but it helps to alleviate any accounting headaches, and you save time/effort and pay them a once-off value at the end of the month.

Uber works this way, they don't pay the driver immediately after a trip, they pay them weekly (I believe), even ones where you share/split payment to the driver, their system splits it to your user account and your user account pays for it. *edit* And then Uber pays them a lump sum
 
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envo said:
Even though split payments may make sense in this regard, it might complicate any refunds.
Click to expand...

That is the biggest problem with websites based on this model. It becomes worse as time goes by and the website grows with more users. Eventually, they all change and move away from the split payment model.
 
Hi Waseem,

I have the same problem.

Online marketplace built in Wordpress/Woocommerce. For legal purposes it would be safer splitting the payments upfront and not receiving the vendors money to my account.

I would only want to receive my commission, and the vendors must receive their part of the payment immediately/instantly.

Woocommerce Vendors Pro has this functionality, but depends on that functionality being available with your payment gateway..

Can you please offer some advice. Did you get any answers from Sage or MyGate? Any other gateways in SA offering Split/Adaptive Payments?

The bigger providers from overseas not available here. Stripe/MangoPay/WePay/Paypal Adaptive Payments..

Thanks in advance
Reynier
 
So by using Peach you could split the payment upfront and not receive the vendor portion of the payment into your account??
 
Hi All.
Slide Financial have just launched a service called Slide Link, which is a payment system for marketplaces and platforms. Slide Link allows you to route payments to multiple accounts, hold payments in escrow, and move money between digital wallets. It is pretty similar to Stripe Connect in the US, except that it is a local (South Africa) company.

Slide's first product was a P2P payments app (see www.getslideapp.com). Contact them at [email protected] to get more info about Slide Link.
 
Alon Stern said:
Hi All.
Slide Financial have just launched a service called Slide Link, which is a payment system for marketplaces and platforms. Slide Link allows you to route payments to multiple accounts, hold payments in escrow, and move money between digital wallets. It is pretty similar to Stripe Connect in the US, except that it is a local (South Africa) company.

Slide's first product was a P2P payments app (see www.getslideapp.com). Contact them at [email protected] to get more info about Slide Link.
Click to expand...
Exactly what I've been looking for. Thanks for sharing this.
 
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