Are you ready to receive commissions in your marketplace? Before anything else, you need to make sure that you have connected your Stripe account to your marketplace. If you haven't, please follow the instructions in this article.
In the "Online payments / Stripe" page of your Admin panel, you should be able to edit your "Stripe commission settings."
What kind of commissions can I charge?
There are two options for commissions: you can either charge a percentage of the total transaction price or a minimum fixed fee. These can also be combined to charge both a percentage and a fixed fee. In this case, your commission is whichever is the highest option.
You can charge a commission fee from sellers, buyers, and/or both.
How does this work in practice?
As an example, let's say you define a percentage of 10% and a fixed fee of $1. If a transaction's value is $5, you will get a fixed fee of $1 since it is higher than 10% of the transaction value ($0.50). If the transaction value is $20, you will get the percentage amount ($2) since it is higher than the fixed fee of $1.
Can I choose not to charge a commission?
If you don't want to charge a fee for transactions, you can always set both the percentage and the fixed fee at 0. Stripe's payment processing fees and managed account fees will still apply and are deducted from your Stripe account balance. If you are not planning to charge a commission, it is definitely not recommended to use Stripe as a payment provider. Try PayPal instead.
Can I change the fee?
You can change your fee at any time. However, it is a very good idea to notify your sellers not to create any surprises for them if you do so.
Can I set different commissions per user?
At this time, it is not possible to set different commissions based on users. However, you can choose to set a different commission with PayPal than with Stripe.
Can I charge a fee for creating listings?
This is not possible. A fee can only be charged for a paid transaction.