How SoukUk SHOP ONLINE provides marketplace vendors a safe and secure low cost way of selling the products online
Ecwid marketplace stores integrate with online payment gateways like Starling via API-hosted systems and the Ecwid Payment API. This allows Ecwid stores to securely connect with Starling to accept payments, offering customers a secure and reliable payment experience.
SOUK ONLINE marketplace is Integrated online with Starling online with Ecwid’s Payment API which allows for secure communication between the marketplace Starling account, thereby enabling SoukUk
Square online vendor merchant fees are paid by the merchant (seller), not the buyer. These fees are deducted from the merchant’s payout when a customer makes a purchase. Square charges a per-transaction fee for online sales, typically ranging from 1.4% to 2.9% depending on the card type and other factors. The buyer pays the card issuer’s fees and their own network fees, but the merchant pays the Square transaction fee.
Here’s a breakdown:
- Buyer:Pays the card issuer (bank) and credit card network (Visa, Mastercard, etc.) fees.
- Merchant:Pays Square’s transaction fee, which includes card fees and other merchant service costs.
- Square:Deducts the transaction fee from the merchant’s payout, and then transfers the remaining amount to the merchant’s bank account.
When a vendor sells something on an online marketplace, the money generally goes to the marketplace facilitator first, who then deducts their commission and remits the remaining funds to the seller. The marketplace collects the payment from the buyer and then transfers it to the seller, less the marketplace’s commission.
Here’s a more detailed explanation:
- Marketplace facilitates payments:The marketplace acts as an intermediary, handling the payment process between the buyer and the seller.
- Payment collection:The buyer pays the marketplace, not directly to the seller.
- Commission deduction:The marketplace deducts its commission (a percentage of the sale price) before transferring the remaining funds to the seller.
- Payment remittance:The marketplace remits the remaining funds to the seller’s account, typically via a payout system or direct bank transfer.
- Account setup:The seller needs to set up an account with the marketplace, providing payment details for receiving funds.
In summary: The marketplace acts as a centralized payment processor, collecting the money from the buyer, deducting its commission, and then transferring the remaining amount to the selle
Square Online allows vendors selling on online marketplaces to process sales by integrating with the marketplace platform and using Square’s payment processing capabilities. This integration enables the vendor to list their products on the marketplace while using Square to handle customer payments and fulfill orders.
Here’s a more detailed explanation:
1. Vendor Integration with Square Online:
- Vendors create a Square Online account and build an online store using Square’s website builder or other compatible platforms.
- They can then connect their Square Online store to various online marketplaces, allowing customers to purchase products directly through the marketplace’s interface.
- This integration ensures that the vendor’s inventory and product listings are synced with both their Square Online store and the marketplace.
2. Payment Processing with Square:
- When a customer makes a purchase through the online marketplace, the transaction is processed by Square.
- Square handles payment processing, including accepting credit/debit cards, digital wallets, or other payment methods supported by the marketplace.
- Square also provides secure online payment solutions that meet PCI compliance standards, protecting both sellers and customers.
3. Order Fulfillment:
- After a successful payment, Square Online can manage order fulfillment, including shipping and tracking for physical products or delivering digital items.
- The vendor can track their sales and orders, including vendor-specific reports and insights.
4. Benefits of Using Square Online:
- Streamlined Sales Process:Square Online integrates with marketplaces, making it easier for vendors to manage their online sales.
- Secure Payment Processing:Square provides reliable and secure payment processing, reducing the risk of fraudulent transactions.
- Inventory Management:Square Online allows vendors to track their inventory in real-time, ensuring they have enough stock to fulfill orders.
- Reporting and Analytics:Square provides detailed reports and analytics on sales, helping vendors understand their performance and make informed decisions.
- Customizable Online Store:Vendors can customize their Square Online store to match their brand and showcase their products in a visually appealing way.
By using Square Online, vendors can sell their products on various online marketplaces while leveraging Square’s robust payment processing, inventory management, and reporting tools, making it an efficient and reliable solution for online selling.