I'm currently building af website, where a user can buy and sell virtual currency. Let's say, that user1 buys 100 points in virtual currency. User2 then might do something for user1, and user1 then transfers the virtual funds to user2.
User2 then might want to convert those virtual funds into real currency. This is the part I need help with.
Is it possible for me, to transfer paypal funds from my business account, to user2 using the express checkout API, or should I use something else?
Thanks in advance
With Express Checkout, you would not be able to achieve this as the payments are simply one-way processes.
You may want to integrate with Adaptive Payments APIs to manage the virtual currencies in your ecosystem.
In this use case, USER2 could redeem the virtual funds with Implicit Approval Payments Flow, to draw funds from your business account and send to the user.
See integration details here at the Adaptive Payments Guide and API specs
Related
We have the following requirements for an online payment solution:
There are two types of users: Buyers and sellers.
Only digital stuff is exchanged.
When a buyer buys content, money is sent to the seller immediately as well as a small fraction of the money to the website owners.
A buyer must before he can sell his offerings connect his account (that may be PayPal or any other service) to the platform to be able to receive money.
Now, I'm not an expert in this field but my initial idea was to have a PayPal account with Mass Transactions enabled for this website which will receive all payments and then send money out to the sellers via API calls.
However, it would be very nice if it is possible to make this process completely external, a.k.a. use a service for payment which sends the bulk of the money to the seller but a small fraction to the shareholders (website owners). Of course, a seller must first connect his account to the platform to make sure in case one of his offerings was bought he can receive money.
Any ideas are well appreciated.
PayPal Adaptive Payments/Chained Payments might be the best option for you as it can be setup to automatically send a portion of your payments to other accounts.
Here is the overview of Adaptive Payments:
Adaptive Payments Overview
From the PayPal Documentation here is an exact definition of Chained Payments:
Chained payments allow a sender to send a single payment to a primary receiver. The primary receiver keeps part of the payment and pays secondary receivers the remainder. For example, your application could be an online travel agency that handles bookings for airfare, hotel reservations, and car rentals. The sender sees only you as the primary receiver. You allocate the payment for your commission and the actual cost of services provided by other receivers. PayPal then deducts money from the sender’s account and deposits it in both your account and the secondary receivers’ accounts.
Here is the information on Chained Payments:
Chained Payment Developer Guide
Here is information on registering your Application, which will allow you to create the Sandbox API Calls:
PayPal APP Basics
If you have used oDesk or Elance then you would be familiar with how you can withdraw your funds to your paypal account.
My question is which paypal feature do they use for this auto withdraw method?
I am building a website for a client who will connect specialists to clients. Clients will pay directly on the website and my client will hold the funds in his account. Once the specialist has completed the appointment they can request to withdraw the funds.
I've come across chained payments but that has a limit of 90 days, so would not work for bookings longer than that.
Ideally I would like to know how sites such as Elance manage this where freelancers can request to withdraw their money from the dashboard, and then receive the specified amount automatically.
Thanks in advance for your help.
For Adaptive Payments, use the Pay Call.
Look at Implicit Payments -- if the caller of the API is also the senderEmail or sender.accountId it will have automatic approval and be able to send programatically.
Alternatively, MassPay can also send from an account program
I'm currently looking for a checkout provider for a marketplace app we're designing.
I studied PayPal Adaptive Payments and Stripe and they do the trick but it are too expensive (2,9% of transaction). Who has an idea of making this work with other/cheaper solutions?
Our case:
The users should be able to pay each other. When user A sells a product to user B, user A requests a payment from user B and user B pays user A. In their settings the users can enter their account number (so this may vary from time to time). Payment will made directly to the other user, without our intervention.
If you're selling digital content have a look at Google Wallet for digital goods. Base transaction fee is 1.9%.
https://developers.google.com/commerce/wallet/digital/
I wanna build a web store for selling people's second hand products.
A customer adds the products into a shopping cart.
He/she pays (credit card, bank account) for it and I get the money.
The seller sends the bought products to the customer.
I get send the money to the seller (and have taken a fee for it).
People tend to mention Amazon's, Google's and PayPal's payment service but recently I came across services like Chargify and Recurly.
My questions:
How do these two differ from the other three?
Which one would support the above mentioned transaction process?
How should I set up the above transaction process?
The "big 3" require an account. How do I charge with just a credit card or bank account only?
Thanks!
Thanks for thinking of Chargify.
We're not the right thing for your need... we focus on helping a business manage many things involved in recurring billing of customers.
For what you want to do, I think one of the "Big 3" is the way to go. You've got the extra "wrinkle" of this, however: you're essentially collecting money on behalf of each Seller, and each Seller may be selling very different things and will have different levels of honesty, etc.
All of my experience is with merchants that have a traditional merchant account and payment gateway, which together allow them to charge credit cards. But the banks that issue merchant accounts want to know what each merchant (each Seller) is about. I'm 99% sure the banks dislike a single merchant account being used to sell / collect credit card payments for more than one merchant.
Anyway, to the degree that it's useful, I wrote a blog post last year about merchant accounts and payment gateways. It may be helpful to you as you explore options:
https://lancewalley.wordpress.com/2010/06/22/merchant-accounts-payment-gateways/
See my answer in Online payments for a middleman.
PayPal Adaptive Payments allows you to accept guest payments, without requiring buyers to have a PayPal account.
Another thing to think about is regional availability; Amazon / Google may sound interesting, but are not very useful if you don't live in the US or UK. Whereas PayPal Adaptive Payments is available pretty much globally (with the exception of a few countries where PayPal hasn't launched yet).
I am working on a website which involves users paying to each other. The payment gateway is going to be paypal., now does it require every user to have their business account with paypal? (or) is it possible to let them have their business account with any business account provider?.
Would appreciate any pointers. Thanks!
Define what you mean by 'business account'. If you mean a merchant account at an acquiring bank: no, that's not required. If you mean a PayPal Business account; no, that's not require either, recipients can have a Premier account as well.
Technically, you'll want to look into Adaptive Chained Payments -- this allows you to chain the payment along multiple recipients (up to 9, if I recall correctly).
Have a look at Introducing Adaptive Payments
Or dev guides