Setting Up Commission Payout Options For Sellers

As a marketplace owner, you want to make managing commissions smooth and rewarding for your sellers. This guide dives into configuring various ways sellers can utilize their hard-earned commission balance!

Flexible options for sellers

Great news! Sellers on your marketplace can use their commission balance in several ways:

• Pay for orders: Allow sellers to directly use their commission balance for their marketplace purchases. This is a convenient perk, especially for sellers who reinvest in their business on your platform.
• Convert to vouchers: Sellers can convert their commission into discount vouchers. These vouchers can then be applied at checkout for additional savings on their marketplace purchases.
• Withdraw funds: Enable sellers to withdraw their commission directly to their preferred method, like a bank account or PayPal.

Configuring commission usage for sellers

Head over to “Settings > Commissions > Usage settings”. Here, you can activate the desired options:

• Allow sellers to pay for their orders using a commission balance
• Allow sellers to convert commission balance into vouchers
• Allow seller to withdraw commission (If enabling withdrawals, you'll need to set up withdrawal methods next!)

Setting up withdrawal methods

• Go to “Settings > Commission > Withdrawal methods”.
• You'll see a default payment method already created. To add a new one, click "Add new method".
• Enter a clear name for the withdrawal method (e.g., "Bank Transfer").
• Choose a fee type (optional) and estimated processing time.
• Click "Save".

Adding withdrawal information fields

After creating new withdrawal methods, you might need to collect additional information from sellers, like bank account details.

• Click "Add new field".
• Enter a clear title for the field (e.g., "Bank Account Number").
• Select the field type (e.g., text box, dropdown).
• (Optional) Add a description to further explain the field.
• Choose if the field is mandatory for sellers to fill in.
• Click "Save".

By setting up these flexible commission usage options, you're creating a win-win situation. Sellers have more control over their earnings, and your marketplace fosters a loyal and engaged seller community.