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Merchandise Payment/Fee Flow

The Jamroom Network » Forum » Using Jamroom » Page » Merchandise Payment/Fee Flow
blindmime
@blindmime
9 years ago
772 posts
What is the general flow of a Merchandise Store purchase in terms of fees if I'm using Stripe? Let's say on a $10 product with $5 shipping. How much does Stripe take? Then it goes to my bank. Then what happens? What is the process of paying the Profile owner? Do I manually transfer the money from my bank to Paypal? Then manually pay each Store owner? What are the fees at these points? How do the payment settings feature into this (in terms of thresholds and time)?

Looking for a general outline on this.

Thanks.
updated by @blindmime: 01/31/16 07:11:13PM
brian
@brian
9 years ago
10,148 posts
Stripe takes 2.9% + 30 cents:

https://stripe.com/us/pricing

All the money goes to your account. When you want, you go to ACP -> FoxyCart -> Tools -> Profile Payout and PAYOUT to your profiles. This will download a PayPal Mass Pay text file you can use to send out payments via paypal, or you can just open it with a text editor and pay your profiles manually any way you want.

Hope this helps!


--
Brian Johnson
Founder and Lead Developer - Jamroom
https://www.jamroom.net
blindmime
@blindmime
9 years ago
772 posts
Yes, that helps -- thanks.

There is a sender fee for mass payments of 2.0% of the payment up to $1.00 USD.

So using my example, the Stripe fee would be 4.9% + 2 to Paypal is around 7%. That's on just a single product in the shopping cart. The percentage would be less with more products, of course.

Do I understand correctly that there is no Paypal fee if I send money one payment at a time?

Also, what happens if a Profile sets a song at 25 cents and someone buys just that song?
michael
@michael
9 years ago
7,715 posts
The best way to use paypal to do payouts was the 'masspay' system where you upload a CSV file. It used to be a $1 charge for all the transactions, but think that info is quite old and remember they were shutting it.

Looks like the fees structure now is different:
https://www.paypal.com/cgi-bin/webscr?cmd=_batch-payment-overview-outside
https://www.paypal.com/webapps/mpp/mass-payments

Quote: 2% transaction fee, capped at $1 per payment.

Your recipients pay nothing to receive payments and there's no setup fee or monthly fee for you. You pay a low transaction fee of 2% for each payment, capped at $1 per payment. So if someone is lucky enough to receive a $10,000 payment from you, your payment fee is only $1*. And because you save money on postage, stationery, and the time it takes to mail checks, Mass Payments could help reduce your operating costs.

so might be better to payout only when their account limit exceeds a reasonable amount.
blindmime
@blindmime
9 years ago
772 posts
Also, what happens if a Profile sets a song at 25 cents and someone buys just that song?

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