In the Pricing tab of the product type editor, you can configure pricing settings which affect products of that type.
There are two payment modes available
- Single payment: Customer pays once to purchase a product of this type
- Subscription: Users pay on a recurring interval for products of this type
Upon successful payment, funds are transferred to
There are two options to select
- Admin: Funds are transferred to the admin account
- Vendor: Funds are transferred directly to the seller’s account
The Vendor option can be used to create a marketplace via Stripe Connect, something which we will cover in a different article
Funds capture method
This defines the time when the funds are captured after an order is submitted. The available options:
- Automatic: Capture funds when the customer authorizes the payment.
- Manual: Capture funds when the vendor approves the customer order.
Platform fee on product sales
The options here are available if the above option Upon successful payment, funds are transferred to is set to Vendor
These settings define the commision structure if you are building a marketplace
Fees can be:
- Percentage of product price
- Fixed amount