we want to set up an EU-wide multi-vendor marketplace and are currently evaluating the products on the market.
Ask: As we understand it, when a vendor sells a product, the money is paid to the marketplace owner and not directly to the vendor, the marketplace owner then has to make the payment to the vendor. Did we get that right? If this is the case, your product cannot be used in the EU at all, since it is not legally permitted to carry out transactions in this way in the EU. How can it be solved that the vendor receives the money directly from the buyer?
Currently we do have a Stripe Connect gateway that splits the transactions and allows vendors to receive the money directly with no admin intervention,
Hello,
we want to set up an EU-wide multi-vendor marketplace and are currently evaluating the products on the market.
Ask:
As we understand it, when a vendor sells a product, the money is paid to the marketplace owner and not directly to the vendor, the marketplace owner then has to make the payment to the vendor. Did we get that right? If this is the case, your product cannot be used in the EU at all, since it is not legally permitted to carry out transactions in this way in the EU. How can it be solved that the vendor receives the money directly from the buyer?
Best regards
henning
Hi Henning,
Thank you for getting in touch,
Currently we do have a Stripe Connect gateway that splits the transactions and allows vendors to receive the money directly with no admin intervention,
You can read more about this gateway here: https://woocommerce-multivendor.com/docs/marketking-stripe-connect-automatic-split-payments-refunds-3d-secure-2-stripe-integration/
Currently this feature is only available for Stripe - we are looking to support split payments for more gateways in future updates,
Kind regards,
Stefan