How do I set a commission payments / pre-payments or split payments?

As promised to @ihor I want to share a the following solution here on the forum. If you earn commissions form the services you offer (we use rentalhive) or you want a guest/customer to pay part of the sum upfront, then the solution mentioned below might be helpful.

Let’s say you want a 10% pre-payment for every booking. You can try and test the Deposit plugin by Acoweb and set up a 10% pre-payment that a customer can pay immediately. The plugin allows you to displayed the information on the checkout page, etc.

We currently use this solution for pre-payments and disable the payout functionality because we want to minimise accounting issues with the current form of company.

Split payments:
A solution we are in dire need is the ability to split payments between us and the vendors immediately after a guest checks out. This is great as it reduces accounting issues on our market and the host receives his payment immediately. This must be communicated clearly on the site and within the terms.

This is a solution that includes multiple parties in our case: Hivepress, a plugin that divides the payment (we use Deposits by Acowebs) and the payment provider of your choice which must be able to process such split payments after a payment was made (research what provider offers split payments on your market).

I have heard of Stripe offering such option in the US and Europe. On our market we rely on a provider who has the capability to process split payments. We use their wordpress plugin but it does not include the split option (yet).

This requires customisation by an experienced wordpress dev as recommended by @ihor . I will share further details to our solution here once the tests are finished (however keep in mind that it is specialised to our payment provider).

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Me veo en la misma situación.
Te agradezco tu compromiso que muestras con toda la gente que necesitamos esa solución.
Eres muy amable

I see myself in the same situation.
I thank you for your commitment that you show with all the people who need that solution.
You’re very kind

Thanks for sharing! I also found these solutions for partial payment, the free and premium ones:

I can’t say for sure how reliable these are and I haven’t tested them. We’re working on a built-in split payments solution for HivePress Marketplace.

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Hello @Mishoo,

your solution using the deposit plugin is very interesting.

When the buyer confirms the deposit payment, the vendor account balance increases for that amount only, or for the 100%? or did you disable that all togheter?

Using the plugin you described, isnt it dangerous that the buyer doesnt pay the amount that remains and the vendor demands the total money from the marketplace?

I am trying to collect 50% of the amount on the day that the listing is booked. The other 50% could be payed later on.

Do you have to contact each buyer and ask to make new payment to complete the amount?

Thanks!

Hello @rudy ,

thank you! I am glad it helps. We all benefit in the forum when we share. Plus Hivepress gets better :slight_smile:

As for your questions:

A: If I remember correctly, the amount shown is the total sales. I have no problem with it as the vendors are informed. We have disabled payouts in our case. The vendors can choose a payment policy (pre-defined in our terms and policy) and let the guests know when payment is due. This transaction takes outside of the platform and between guest/vendor. Our commission gets payed immediately at checkout.

The rules must be set by you. You must decide how your marketplace works beforehand. You must communicate the terms and set up attributes accordingly (payment policy) that is are displayed in the listing profile (front end) of the vendors.

For example: 30 days before moving in, 14 days, 5 days or at check in. If a guest doesn’t pay, the host can free up the space for another booking. So this is then a decision the vendor makes.

The second option is to build a plugin (we have done this) and work with a local payment provider on your market. We offer this to our premium hosts. They basically get paid immediately at check in. This is surely the best method.

It depends. If 50% is your commission, then it is simple. If however you share the 50% with the host, then it gets tricky (at least on our market). You will need to check your local tax and accounting regulations in this case.

Well, this is in our case the task of the host/vendor (similar to every other booking platform). You can provide marketing functions within the platform to reduce cancellations (such as automated email reminders once a booking was made - Hopefully Hivepress will introduce those soon @ihor :slight_smile: )

Hope this helps.

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Thank you @Mishoo for the amazing reply! :slight_smile:

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