If you own a marketplace website then one of your biggest woes will be the splitting up of payments between the multi-vendors and admin. The time consuming task is that admin has to actually see through the process and make every single payment separately via any payment gateway. This is really a tedious and time consuming task.
However, the Magento store owners needn’t to worry anymore since Apptha has launched “PayPal Adaptive Payment” which will solve this trouble completely. With this extension the splitting up of payments would be done in a smooth and hassle free way. The extension works in the following manner. When user makes a payment it is immediately splitted among the merchant and the store owner. It is also been sent to their respective PayPal accounts. The most important and noteworthy feature of the extension is that, buyer need not have a PayPal account; he/she can use any form of payment.
Among the various features of the “Apptha PayPal Adaptive Payment”, certain features get a special mention and those features are
- Chained or Parallel Payment:The splitting up of payments can be done in one of these two ways, viz.,
Chained Payment: In chained payment, admin will receive the whole payment and from there it will be automatically sent to vendor or merchant.
Parallel payment: In contrary to the chained payment, here the amount or share will be sent parallel to merchant as well as admin at the same time.
- Instant Transaction: The transactions occur instantly and also synchronized. Therefore, there won’t be any delay or problem in the money transfer process.
- Payment Refund: The payments that ought to be refunded are done in a prompt and rapid fashion thus there is no need for the customers as well as the vendors to panic about.
Furthermore, the PayPal Adaptive Extension is first of its kind venture which has resolved the problem in splitting of payments in a hassle free manner. Also find How it works?