How do payments work in Marketcube?
In this article, we'll discuss a high-level overview of how the vendor payouts flow works within Marketcube.
- Operator set up marketplace terms that impact payments depending on the commission, payment terms.
- Operators connect their PayPal or Stripe accounts used for the vendor payouts.
- Alternatively, you can also choose not to connect your PayPal or Stripe account, in which Marketcube will still be calculating commission split between you and vendors for all orders, but you will need to pay your vendors and update payment status within the Marketcube manually. To make it easier we enable you to export all of your payments, accessible via "Export Payments" in the Payments section in different formats.
- Given you've connected your PayPal or Stripe account in the previous step, then your vendors will be able to connect their PayPal or Stripe account too. This will be the account where they receive payments for your marketplace orders.
- When an order comes into your store then the full amount goes into the account connected with your E-commerce platform. In the background Marketcube calculates the amount you owe to each vendor and the payment due date, depending on the terms selected.
- When the payment is due it is automatically triggered from your connected PayPal or Stripe account to your vendor's connected PayPal or Stripe account (if enabled the "Automatic Payout").
Throughout the entire process, you can track the status of all payments (amounts, due dates and associated payment status). To access this information or export payments navigate to the Payments tab >> "Export Invoices".
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