What are the two things that any business owner would want for his online payment system? High-speed payment processing and high-security payments. With WCMp Stripe Marketplace vendors can receive real-time payments that happen as soon as the customer makes the payment and security that every Stripe user naturally receives.

What makes WCMp Stripe an optimal payment system?

• Real-Time split payment - With WCMp Stripe vendors can receive automatic payments in their accounts without requiring any authorization from the admin. In other words, vendors and admins would receive their respective payments directly in their accounts as soon as a customer makes his payment
• Let your customers pay using debit or credit card - The WCMp Stripe lets customers make their payments using debit or credit card.
• Stripe Account Type Support - With WCMp Stripe add-on you can receive all stripe account type support.
  • Standard- With Standard accounts vendors would have to connect their accounts with admin in order to receive payments. To know more read here
  • Express - For an express account just like a standard account the admin account has to be connected to the vendor account. But unlike a standard account, the Admin can connect with multiple vendor accounts and transfer the vendor’s payment immediately. To know more read here
  • Custom - A Custom Stripe account is almost completely invisible to the account holder which in this case is the vendor. From the creation of the vendor stripe account to payment processing, is done by the Admin. To know more read here
• Allows charge type support while creating charges- When funds are accepted from a customer, the admin needs to create a charge. Depending on the charge type selected by the admin the funds are split between admin and the vendor. The charge type support WCMp Stripe provides are as follows:
  • Direct charges - Here the payment made by the customer is sent directly to the Vendors account. It is the vendor who is responsible for handling all the charges including the admin’s share. To know more read here.
  • Destination charges - With this charge type, the customer payment gets automatically transferred to the vendor’s account from the Admin’s account. Along with this, all other minor charges like Stripe fee and gateway charges are deducted from the admin account. To know more read this document.
  • Separate charges and transfers - Here, the Admin can directly receive payments from the customer and then transfer it to multiple vendors. The vendors would then have to withdraw the money from their account that had been transferred by the admin. To know more read here
• Strong Customer Authentication (SCA) Compatible - as per strong customer authentication, part of psd2 regulation in Europe put into effect on September 14, 2019, stripe provides a prebuilt, stripe-hosted checkout flow that automatically handles SCA requirements for you.