Multi Vendor Marketplace Plugin | WCFM Marketplace › Forums › WCFM › Refunds With SCA & Stripe Split Payment And Separate Charges & Transfer
- December 9, 2019 at 7:58 pm #96764sdel_nevoParticipant
I have started a new thread here so its easier to keep track off
on this thread here i asked about how refunds worked
my problem is this, vendors do not want to wait to received there sales revenue, they need it at the point of sale, so withholding this for X amount of days will not work for us. not only that but stripe recommend this is not the action marketplaces take
but, as customers are entitled to refunds 14 days after the date of delivery, we have no way of refunding this money
as an example
(customer A) purchases a T-Shirt from vendor 1 for £10
vendor 1 receives the sales money (£9.45) after 3.5% +0.20P commission has been deducted
7 days later vendor 1 gets these funds to there bank account
12 days later (customer A) requests a refund
our platform is responsible for this the whole £10 and as such it will be deducted from our stripe balance in full
we are now owed this money from (vendor 1)
how do we get that back?
when we used split pay with direct charges, this was not an issue as
the vendor was responsible for refunds, chargebacks etc
but now our platform is, this is a complete legal change, not only to mention a financial one too
how can we recover these refunds from vendors when they have already had the funds moved to there bank accounts?
I hope this makes sense
- December 9, 2019 at 8:05 pm #96766sdel_nevoParticipant
this document https://stripe.com/docs/connect/charges-transfers#reversing-transfers is what I was sent via stripe, but it seems that there no way to claim money back from a connected account
- The topic ‘Refunds With SCA & Stripe Split Payment And Separate Charges & Transfer’ is closed to new replies.