We are contemplating on using your services on the web app we are developing, We have following requirements.
Our's is a multisided services platform, an employer assigns a freelancer to do some job. Freelancer will create partial invoices until the full value of the job is realized. We sit as a middle man, and does the job of forwarding the invoice to employer and transfer the amount collected from the employer to the corresponding freelancer, after taking a cut.
1) We need to provide seamless integration on invoicing, The freelancer will use our web interface to create/send invoice. We will record the cost of the invoice in our database.
2) It is the employers prerogative, to decide when to respond on the invoice. Say, he responded after 10 days of receipt of the invoice. When the payment is made our website traps it and records it in the database.
3) When our web app come to know that a payment is made by the employer, we will transfer the amount (after taking a cut) to the freelancer.(adaptive payments).
I found out that chained payments is best suited for the scenario above.
What type of paypal account i need here to do the chained/adaptive payments? If it is Business or premier account , can i set up an account before legally registering a company for testing/sandbox environment? I am from India I see paypal registration form asking for the PAN number for company, which i don't currently have.
Thanks for your attention
Short anser: if you are not a business, use a premier account. That should be able to use all adaptive payments features including chained payments.
PayPal no longer distinguishes between personal and premier accounts (they used to carry different fee structures but that ended years ago), although some older features still may have blocks preventing access by personal accounts. Both types of accounts are expected to be owned by an individual. In contrast business accounts are expected to be owned by a business. Functionality should be essentially identical to a premier account except for details like personal vs corporate tax ID numbers & such.
Related
I am creating an app where sellers can sign up on an app, and sell products (think Etsy). Local users can view and purchase the product from the seller.
What would be the best approach for doing this? I was looking at the Square API. I looked through Square's Merchant API but could not find an endpoint to create a new Merchant account (which I would ideally create for each seller). Another option might be to create one Merchant account (for the app) and a new Location for each seller. Does this seem like a good idea?
At this time the ability to create merchant accounts with Square APIs isn't currently available. We’re constantly working to improve our features based on feedback like this, so I’ll be sure to share your request to the API product team.
It isn't recommended to have all payments run through one Square account cause you'd have to deal with all of the chargeback risk for every payment and all the payouts of funds to the sellers.
I am starting a business and I would like to offer Paypal as a payment option, but for my business it is essential to be able to block an amount of money, just like a car rental or a hotel does on a credit card. Would it be possible to block an amount from my users PayPal account and release it or book it for good later?
My business is of course an online service, and I want to do this pragmatically in a Spring based application.
I think what you are looking for is Authorization and capture.
I haven't used that feature from Paypal, but have used it elsewhere. What you are looking for is usually called card authorization, preauthorization, or preauth.
Yes it's possible
PayPal's REST API offer 3 primary ways to ensure you paid for product/services that you give to your customers
sale. Makes an immediate payment so you get paid immediately
authorize. Authorizes a payment for capture later.(this is what you see in a car rental or hotel)
https://developer.paypal.com/docs/integration/direct/payments/authorize-and-capture-payments/
order. Creates an order. - which gives you the flexibility to
multiple to do multiple authorizations and captures (these are for
complex use cases such as when you buy a computer from Dell you would
be authorized for the desktop, monitor, keyboard at different points
of time based on availability and then the funds captured when they
are shipped)
We are managing ticketing platform, it's a market place where buyers and sellers interact via our platform. Seller creates event and sells ticket, customer buys ticket (guest & registered) via credit card.
So, initially we have four actors involve in each transaction, they are stripe (payment processor), platform owner, seller & buyer. But, amount splits amongs three actors stripe (payment processor), platform owner & seller.
Ticket Price: 15$ - Seller
Payment processing fee (Stripe): 0.735 (2.9% of principal + 30¢) - Stripe
Application fee: 0.99¢ (fixed) - Platform Owner
Accumulated amount charge from customer will be sum of this, which is $ 16.725 .
We are using stripe connect and it's working fine, using simple charge API. But, now new actor involve in this transaction process, which we wanted to accommodate & we are facing challenges. There is addition of "agency" in our platform who brings seller (event creator) in our platform. Now we wanted to divide split amongs four actors: Stripe, platform, agent & seller.
We research complete stripe documentation.
How we can handle splits among multiple actors using stripe connect. We are open to any other Market Place product as well (brain tree, paypal) but, we preferred Stripe.
Is there any straight forward way of handling this, or any proper workaround by which we can handle this.
Thanks in advance. I can share code if you wanted to but right now wanted to solve problem first on paper.
Q: I want to distribute payment made into multiple accounts (market place)
A: It sounds like what you're looking for is Connect. With Connect, Stripe makes it easy for platforms to transfer earnings to their users. You can find more information on Connect at the link below:
https://stripe.com/connect
https://stripe.com/docs/connect
Q: If above is possible how many accounts can this amount be distributed in? Is there any limitation
A: Unfortunately, for compliance reasons, we're not currently able to support the splitting of funds from a single charge among multiple connected accounts. As a platform using Connect, you'll want to ensure that there is still a one-to-one relationship between a charge and one of your connected accounts.
However, you can create multiple charges on a card—each corresponding to the respective connected account.
Q: can I receive payments in multiple accounts
bank-account-and-transfers#automatic-transfers
Q: Can I transfer funds from Stripe account to other accounts online
A: While it is technically possible to move funds from your Stripe account to another Stripe account, we recommend avoiding this method. For compliance reasons, the vast majority of money moving around must be directly linked to an incoming charge (either by having been created on the connected account or via use of the destination parameter). When you use one of these methods, the funds are never available to you: they will end up either being refunded, or being paid out to the account holder's bank account.
Q: From following options how many are supported on Stripe -- Visa, Mastercard, Amex, Discover, Apple Pay, Samsung Pay, PayPal, Amazon Pay, Bit Coin
A: The card/payment types that you can accept will depend on where you're located. You can see more information on this here:
which-cards-and-payment-types-can-i-accept-with-stripe
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 trying to use the Recurring payment API offered by PayPal.
I have a scenario which I am not able to address directly. It goes like this.
We have a website where we sell some services. Now the services are charged per user license. A user can buy/cancel user license in between. We want to offer the customer a recurring billing option. We have to notice here that the amount may vary each billing cycle based on the number of user licenses the customer uses during that cycle.
Is there any way I can achieve this using PayPal recurring Payment API's.
I realize this is a very old post, but it still shows up for Google searches, so I thought I'd add:
Paypal does allow you to do this now, using their new adaptive payments api.
Authorize.net also has a service that might work called Customer Information Manager.
The recurring payment option is a fixed amount that the customer pre-agrees to pay each month (or period). To do what you're trying to do, a customer would have to pre-agree to pay whatever amount you decide to charge at a later time. This means pre-authorizing an unknown payment amount, which will not be allowed by any payment service.
Your only options are:
Bill the variable amount each month (i.e. no subscription).
Set up a subscription where the monthly amount is the maximum that could potentially be billed, and then refund the difference each month.
Good luck with #2 - I would never agree to such a thing as a customer, personally.
What you're looking for is covered in the UK by the Direct Debit system, however given the potential for abuse it's very tightly controlled and there are a lot of restrictions and regulations governing it.
I'd strongly suggest you just set up a monthly invoicing system that just bills the client each month.
I don't know its meaning full or not as it is a very old post.
Instead of creating recurring profile on PayPal Server, You can store the customer's credit card on the PayPal using REST API: https://developer.paypal.com/docs/api/#vault then every month you can fetch it and charge it like recurring Payment Or When client is no longer with the services then just remove its card from PayPal.
I suppose Authorize.net SIM method also does the same.
Hope this make sense.