Learn how to build an online marketplace with multiple sellers and split payments with them using Stripe Connect. Stripe makes it super easy for you to collect commissions on marketplace payments, while ensuring that your sellers get paid seamlessly after each transaction. Once you set up your Blipteam marketplace, just sign up for a Stripe account and enter your Stripe details in Blipteam, along with your commissions rate.
When your sellers sign up on your marketplace, Blipteam will 'Connect' their Stripe accounts to your marketplace Stripe account. As soon as a payment is made on your marketplace website, the payment will automatically get split between you and your seller. You will get your commission in your Stripe account and your sellers will get get paid directly into their own Stripe accounts.
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You and your sellers just have to sign up for your Stripe accounts and enter your details in your Blipteam site manager and our platform connects all your seller accounts to your marketplace account. Your sellers get an itemised invoice detailing all commissions, items and shipping rates, if applicable. You also get a copy of each invoice. Your sellers can also set up email notifications in Stripe so buyers get notified after each successful transaction.
Your sellers get paid directly into their own accounts and are directly responsible for fulfilling their orders or issuing returns. Your commission amount is paid into your marketplace account and you can see the details of each transaction and the seller responsible for the sale. This split payment feature ensures smooth payments across your marketplace and takes care of all your accounting headaches. Take a look at the infographic below to see how split payments work.
Stripe provides an efficient payment gateway for your marketplace, ensuring payments can be made with all major cards. You can accept payments in all major currencies on your website and all transactions are handled surely by Stripe. You can use your free Blipteam account to set up a trial marketplace with 1-2 sellers and a brief description of your business model. Stripe can use this to evaluate your business while approving your account. Once your Stripe account is approved, setting it up in Blipteam is a 2-minute process.
All your seller Stripe accounts will then be automatically linked to your marketplace Stripe account by Blipteam. Now all you have to do is get more sellers onboard and fire up your marketing machine to drive customers to your marketplace business. Here is a list of all countries supported by Stripe >
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