I’m making a community marketplace where users can buy and sell items. im planning on taking 2% from the seller but how would this actually work? for example does the buyer pay me, i take 2% then pay the seller? or can i charge the seller directly at the same time the payment goes through? would i have to pay paypal fees on my 2%? if so, is there a better payment system or solution to this? #ebay #paypal #e-commerce
A marketplace that where users buy and sell items. Really?!? I’m going to give you some honest feedback here: you are wasting your time. Ebay, Craigslist, Facebook Groups, Letgo, the list of options goes on forever. Why would any sane person pay you 2% (or anything for that matter) to buy and sell items? Talk to any serial entrepreneur (not fake ones) and they’ll tell you how bad of an “idea” this is. Keeping it real here.
May be he is selling something that no one sells ...
I can see you are very new with payment, the thing is, it is much complicated than it looks. First, likely you won’t be able to be the “money holder”(let’s call it this way), i.e you can’t received the money from buyer and “do X action” before moving it to seller. Paypal has the license to do this, so a lot of sites use paypal as a payment backend. Fee on paypal is charged by % of transaction + X. Each payment processor has a different fee, so do your homework on that, try searching Payment processor, how to integrate. Try Paypal, Adyen, Stripe