How Payment Works
The payment flow for Sellers on Rivernue.com using the Stripe Destination charges method can be a bit complex for new sellers. Below you will find a summiarize and a more detailed description of the process, as well as a flowchart of the transfers.
To summarize:
- A customer purchases a product from a Seller
- The full charge amount is added to the Seller's pending balance
- The platform commission (incl. Stripe fee) is deducted from the charge amount and transferred to the marketplace platform account
- Stripe fees are deducted from the platform commission
- The remaining amount after Stripe fees is added to the marketplace platform account's balance
- The remaining amount in the Seller's pending balance is transferred to their account
To simplify it, let me explain the process in detail.
When a customer purchases a product from a Seller on Rivernue.com, the full charge amount (let's say $10.00) is added to the connected account (Seller) pending balance.
This means that the money from the customer is temporarily held by the platform until the transaction is completed.
This means that the money from the customer is temporarily held by the platform until the transaction is completed.
Next, a platform commission (application fee) is deducted from the charge amount. This is a fee that the marketplace charges to the seller for using its platform.
The platform commission amount is a fixed fee, set by the marketplace (let's say $1.23).
The platform commission amount is a fixed fee, set by the marketplace (let's say $1.23).
The platform commission ($1.23) is transferred to the marketplace platform account, while the remaining amount ($8.77) is held in the seller's pending balance.
Next, Stripe fees are deducted from the platform commission amount. Stripe is the payment processor used by Rivernue.com, and they charge a fee for each transaction.
The Stripe fee amount is also a fixed fee, set by Stripe (let's say $0.59).
The Stripe fee amount is also a fixed fee, set by Stripe (let's say $0.59).
The remaining amount after Stripe fees ($0.64) is added to the marketplace platform account's balance. This is the platform's revenue from the transaction.
Finally, the remaining amount ($8.77) in the Seller's pending balance is transferred to their account, minus any additional fees or charges.
I hope this helps clarify the payment flow process for new sellers on Rivernue.com using the Stripe Destination charges method.
Below you can see a chart of the money flow:
Related Articles
Payment - General Information
At Rivernue.com, we understand the importance of clear and comprehensive payment information for our sellers. As a B2B marketplace, we strive to ensure a seamless and transparent payment process for all of our suppliers. We offer our customers the ...Shipping - General Information
At Rivernue.com, we are dedicated to making your selling experience as seamless and stress-free as possible. That's why we've partnered with Eurosender, an exclusive logistics platform that provides affordable and reliable shipping solutions. With ...