How to set up Paypal to pay your vendors?
In this article, we'll learn about how to connect the PayPal account with your Marketcube operator's account for the vendor's payout.
PayPal is a payment gateway that allows you to accept credit card payments (in person or online) by transferring money between your merchant account and a payment processor. This is done using a physical credit card terminal or an online processor.
As a marketplace operator, one way of paying your vendors is via PayPal. For you to pay your vendor via PayPal Connect both you and your vendors must have a Business PayPal account.
As a marketplace operator (Seller), one way to pay your vendors is via PayPal.
Note: For you to pay your vendor via PayPal both you and your vendors must have a PayPal account connected.
IMPORTANT BEFORE YOU START
- As a Merchant (Seller) you will need to ensure that you have a Business PayPal account.
- You need to enable "Payout" as an option (explained later).
- You will need to submit your "Live" App for approval to PayPal, which can take up to 7-10 days (explained later). Note you can run the whole process on a Sandbox app for testing purposes.
This guide walks you through the process of connecting your PayPal account to Marketcube.io, to allow us to trigger payments to your vendor's connected PayPal accounts, on your behalf.
- Go to https://developer.paypal.com/home and log in to your account.
- From your account dropdown in the top left, select Dashboard.
- Click My Apps and Credentials >> Under REST API apps click Create App.
- Give the name of the App >> Click Create App.
- Click on the app created under App Name >> Click on account eligibility.
- Navigate to My Accounts >> Click Enable to Enable Payouts.
Note: PayPal will ask you to contact them to enable this feature.
- Go back to My Apps and Credentials and the back to the App you created.
- Copy the Client ID and Secret (use the "Show" link) values and add them into Marketcube.
- Note: that at the top there are two options Sandbox and Live - the sandbox is purely for testing.
- Copy the URI from your Marketcube Operator account to add in PayPal. Select the checkboxes shown below.
- Add the redirect URL copied from Marketcube.io.
- Click Connect with PayPal to enable the Login with PayPal checkbox and click the "Advanced Options" link.
- Read the Information request carefully, PayPal needs information from you to enable the Payout feature, which can take up to 7-10 days. They Approve the "Live" App that you created earlier.
- This should now complete the PayPal setup for a Marketplace operator (Seller).
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