What is a Marketplace?
A Marketplace is a platform that enables you to board your vendors and then split payments from shoppers between you and your vendors.
Does BlueSnap support a Marketplace?
Yes. You can use our Marketplace web service of the Payment API to board vendors and set the commission split between you and your vendors. To learn more, see our Marketplace docs.
Why would I want to create a Marketplace?
If you've created a business where you want to encourage vendors to participate in your success, a marketplace is for you. With the BlueSnap Marketplace, you can board your merchants and you can manage all communications and interactions between you and your vendors, while leaving the payout to all parties to BlueSnap.
As the marketplace owner, will I have one BlueSnap account where I receive all commission splits?
Yes. You will have one BlueSnap Merchant account where you receive all commission splits on marketplace sales. For more information, click here.
When does the commission split for a sale occur?
BlueSnap splits the payment based on the commission rate once the shopper’s funds are captured.
Are there any fees for the Marketplace?
There is a Marketplace Vendor Management Fee. While you are busy managing your marketplace business, we are working hard to verify vendor identities, to split payouts between you and your vendors, and to provide the reports for reconciliation — just to name a few.
What can I expect my fees to look like using a Marketplace?
- Marketplace Vendor Management Fee: This is based on the gross amount paid out to your vendors.
- BlueSnap Transaction Processing Fees: These are based on the total amount of each capture, not on your portion of the split amount. (For more information, refer to Pricing.)
- Payout Fee: This fee is based on your chosen payout method: ACH, wire, etc.
- Other fees as defined in your contract.
For more information on fees, refer to Payout Summary Statement Report.
How does the transaction commission split affect the fees?
The transaction is split between you and your vendor on the amount of the capture, based on the commission values you determined and submitted in the request. Meaning, that the only fee charged to the vendor's portion of the split amount is their payout fee.
What fees do my Vendors pay?
Vendors are only charged a Payout Fee.
What payment methods are supported?
BlueSnap's Marketplace supports a variety of payment methods, including cards, mobile wallets, ACH/ECP, SEPA Direct Debit, and more.
How are refunds handled?
Refunds are simply the reverse of the original transaction. The same commission split is applied unless you make adjustments to the commission split for the refund. (For more information, refer to Refunds.)
Can I process a transaction that involves multiple vendors?
Yes. You can process a transaction that involves up to 500 vendors. For more details, see Processing transactions.
What are the requirements for verifying individuals? What are the requirements for businesses?
We discuss the differences between boarding individuals and businesses to your marketplace in Vendor Verification Requirements.
If a vendor has not been approved/verified yet, can they receive payout?
Their payout is on hold until the vendor has been approved by BlueSnap. BlueSnap informs you of changes to the vendor account via webhooks.
Can I add metadata to API calls for transactions?
Yes. BlueSnap supports passing metadata in the API request for transactions.
Can I define the statement descriptor dynamically per transaction?
Yes. You can define the statement descriptor dynamically per transaction by including the Soft Descriptor property in the transaction request.
Can I transfer account funds between vendors?
No. BlueSnap pays out account funds to your vendors according to the established commission rate.
Updated 7 months ago