As a marketplace administrator, you can choose to charge a transaction fee from each paid transaction in your marketplace. The fee can be defined from the “Payment system” section in your admin panel. Depending on your payment gateway, you can charge sellers, buyers, or both.
What kind of transaction fees can I charge?
There are two options for transactions fees: 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.
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 the value of a transaction is $5, you will get a fixed fee of $1 since it is higher than 10% of the transaction value ($0.50). But if the value of the transaction 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 transaction fee?
If you don’t want to charge a fee from transactions, you can always set both the percentage and the fixed fee at 0. Fees from the payment provider (Stripe or PayPal) will still apply.
Can I change the fee?
You can change your fee at any time. However, if you do so, it is a very good idea to notify your sellers to not create any unexpected surprises for them.
For any ongoing transaction, the fee will not change.
Can I set different transactions fees?
You can set up one transaction fee for Stripe and one for PayPal. The reason for this is that Stripe processing fees and PayPal’s processing fees and how they are charged differ.
With Stripe, you can decide to collect a commission from sellers, buyers, or both.
At this time it is not possible to set different transaction fees for different sellers categories or order types, unfortunately.
Can I charge a fee for creating listings?
This is not possible. A fee can only be charged for a paid transaction – a transaction fee.