I am building an ecommerce store like amazon where sellers can sell and they receive money when a product is bought.
I am using stripe api with nodeJS for handeling payments. What is exactly the process of paying a user with stripe?
On their documentation they said of creating an account then transferring fund but in the process what about taking user's payment details like their bank account.
What are the steps which I need to follow for a paying a user out?
You'd need to use Stripe Connect. Each merchant you pay will need to be a connected account to your platform.
Related
I'm working on a POS app where users can buy things from owners. How can I send the money directly from the user to the owner in nodejs?
Thanks
You need to use Stripe Connect in order to send funds to another account with Stripe.
Stripe Connect is a huge topic and needs lots of research into account types and fund flows: https://stripe.com/docs/connect.
We are developing an application for restaurant usage, in that we have integrated Stripe Payment Gateway. Our application is having 3 types of users, Admin, Restaurant and Customer. Admin will take a charge from Merchant for using the application in each order they place through the application.
To manage this Payment Transaction we have used Stripe Connect, for example, if Customer is paying $2 then admin will take $0.5 as an application fee, and the merchant will receive the $1.5, but here the question is who will pay the Stripe Charge. We need that, Merchant will bear the Stripe Charge.
Here is the screenshot of a successful transaction. Can anyone guide me about this make sure?
You should review the different types of charge flows available when using Connect. Based on what you've described, it sounds like you want Direct charges, with the fees paid by the connected account, but it really depends on the details of your business. You can review the fund flow diagram to see if it matches what you need.
I'm considering adopting Stripe connect.
What I want to do is One user will be able to both that receive and pay.
What I now understand is to create a custom account user and create a payment from the platform to the custom account with Destination charge.
Can a Custom account user pay the platform as a consumer?
Thanks.
As per your scenario you can make a stripe Customer and his Connect account both having same bank account linked. So when you initialise to pay the platform it will be charged from same bank account as well as when receiving payout the same bank account will be credited.
I am new with paypal.
After searching for info it seems paypal has a lot of technologies, APIs etc to be consumed and I cannot choose to right one for my case
My business case:
Simple marketplace android application with 2 main actors:
Seller
Buyer
Actions:
When buyer want to buy something via marketplace -> he pays via own paypal account to seller (buyer can see paypal page and authorize payment)
Seller automatically send fee payment to marketplace's paypal account (seller does not need any time autorize payment to marketplace, it should be automatically after buyer send money to seller)
Thanks for every help!
There are a number of ways to get that done depending on the experience you would like for all parties involved.
PayPal would recommend that you use the Adaptive Payments API for this because it's exactly the sort of thing they built it for. Specifically, you could setup a chained payment. That will automatically split the payment between the seller and the marketplace / app owner.
I personally don't like the Adaptive Payments checkout experience, so I prefer to build the same functionality with Express Checkout.
For this, though, you would need to have the sellers that sign up with your marketplace create a billing agreement with the app (marketplace) so that you can trigger payments on their behalf.
Then you would build a reference transaction payment to yourself from the seller account any time you need to. So this could be as each transaction happens, or you could tally up some number of transactions and only process the reference transaction payment to yourself when the total reaches some amount, or do it once per week / month, or whatever you want to do in that case.
I recommend Express Checkout as your payment solution.
https://developer.paypal.com/docs/classic/products/express-checkout/
EC provides mobilized checkout page, and you do not need to apply for special approvals. And by setting PAYMENTREQUEST_n_SELLERPAYPALACCOUNTID in SetExpressCheckout API, you may achieve parallel payments easily.
https://developer.paypal.com/docs/classic/express-checkout/ht_ec-parallelPayments/
https://developer.paypal.com/docs/classic/api/merchant/SetExpressCheckout_API_Operation_NVP/
I have a site where I am using Stripe API to collect payments. I would like to send some amount of the money I collect to a user's bank account. How would I go about doing this?
You can't simply send funds to any bank account from your own Stripe account.
You can use Stripe Connect to accept payments on behalf of others (and optionally take a fee for yourself), then send funds to their bank account. But there a lot of things to consider when using Connect and it's quite a lot more complex than simply using Stripe for yourself.
If it sounds like Connect is a good fit for you, I greatly recommend you spend some time to read the docs as well as this article.