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Help needed regarding payment method

Posted: Sat Dec 05, 2009 1:33 am
by samik
I've a problem regarding a custom payment system. It is for a whole sale marketplace. The payment system is a bit complex. When a user pays the payment will go to escrow. After the product is shipped, user will release the payment then a certain percentage of price will go to administrator's account and the rest will go to seller's account.

That means the payment architecture is as follows:

1. Seller set up an account in our system.
2. Seller choose their payment method and regarding information.
3. General user come to the system and choose a product to buy.
4. User escrow the price.
5. Seller ship the products.
6. User receive the products and release the payment.
7. The commission percentage cut from the price and go to website owner's account.
8. Rest part go to Seller's account.


So it's a bit complicated for me. I don't know if such features are available in any payment system. And if anybody tell me where i can get such features it will be really appreciable. Or if its not available anywhere how can I build this system.

Thanks to all

Regards,
Samik

Re: Help needed regarding payment method

Posted: Sat Dec 05, 2009 3:42 am
by John Cartwright
You generally would not split the users payment directly. From the multiple affiliate and payment processing (credit card, cheque, sms, etc) systems I've worked on over the years, we implemented a payout system whereby we would provide daily (weekly, whatever) payments in bulk depending on the payout cycles. So basically, there is no direct relationship between the client payment and the affiliate, only a relationship between us and the affiliate (as far as the physical exchange of money).

This is also important when the transference of money involves a processing fee, whereby bulking the payments together saves money. It also simplifies the accounting process, and allows for accounting corrections to be made if necessary.

With that process in order, it would be trivial to implement the traditional payment/shipping system such standard systems come equipped to handle.

Re: Help needed regarding payment method

Posted: Sat Dec 05, 2009 5:56 am
by samik
thnx a ton pollcolingwood. m waiting for your reply :) :)

Re: Help needed regarding payment method

Posted: Sat Dec 05, 2009 6:01 am
by samik
thnx John,

thnx for your valuable reply. i thought about it same but same as i thaught if there any automated process or system or any prebuilt system for this application. and in same way i was looking for an expert's comment. just like you ... :)

thnx again :)