#WStorm
vapid coyote
tacit talon
Hello there
Overall yes you can use Stripe Connect for a C2C marketplace
However we don't have a built in "dispute resolution" process or anything like that. The customer in this case could dispute the charge and then it would go through the normal issuer dispute process.
plush oriole
@tacit talon Hi there, thanks for the quick response, I do have some questions to follow up on our marketplace
tacit talon
Sure
plush oriole
- how long (number of days) can the fund be hold on Stripe?
tacit talon
2 years for US: https://stripe.com/docs/connect/account-balances#holding-funds
90 for everywhere else but Thailand
plush oriole
thanks, can we set up a "7 day" window on the backend to allow buyers to receive shipping and verify the product?
tacit talon
Yep you can use Auth & Capture for that: https://stripe.com/docs/payments/place-a-hold-on-a-payment-method
plush oriole
awesome, the second question is
- once the seller listed the product, and buyers purchased it via Stripe-buyer's fund being captured but not being charged-will the seller be able to receive the fund immediately, or it needs to be"accepted" by the buyer within that 7 day window?
tacit talon
I don't fully understand the ask, sorry
Are you asking if the seller can receive the funds before you capture the Charge?
plush oriole
correct, if the seller has sold the product to the buyer, will the seller immediately receive the fund, or the seller needs to wait until the buyer "accepts" the product?
tacit talon
You can't transfer funds to the Connected Account until the Charge has been captured
So assuming you are capturing when the buyer "accepts" then yeah it has to wait until that point
Then there is also a delay until the payout can be made (see: https://stripe.com/docs/payouts#payout-speed)
plush oriole
Got it, thanks
- Our marketplace will not involve in receiving or paying the fund, it is all in between the two parties (buyer & seller), correct?
tacit talon
You can do it this way if you want. You would onboard the sellers as Standard Connected Accounts and then facilitate payments from the buyers on their Accounts via your platform.
With this route the funds will never come through your platform
plush oriole
ok, thanks.
4. Can we create a setting on the backend that if the buyer didn't click "accept" for 7 days, the fund will be transferred to seller automatically? (in real life there will be some buyers never accepted the shipped product even though the product is fine)
tacit talon
You would need to track that yourself and basically you would capture the Charge just before the 7 days are up so that is doesn't get canceled.
plush oriole
OK, which means we need to build our platform with a function that does this capture within the 7 days period.
tacit talon
Yep correct
plush oriole
OK, here comes a tough one.
- If the buyer "rejects" the product for any reason (damaged during shipping, condition doesn't match description etc), and the buyer initiated a return to the seller, as a dispute resolution, how shall we handle it on Stripe?
For example, the buyer "rejected" the product, and shipped it back to the seller, and the seller would be able to accept the return. It is at this moment, the resolution is done, ideally buyer would get his refund, and seller kept his product.
Yet how the fund is being managed? Is it going to be automatically refunded to the buyer once the seller accepted the return?
wanton ibex
Are you suggesting the customer initiates a dispute here, specifically? Or talks to the seller to start a return & refund process?
You should read about how disputes work here: https://stripe.com/docs/disputes/how-disputes-work
plush oriole
Thanks for the link, I read it.
I was suggesting buyer talks to the seller to start a return & refund process.
wanton ibex
yes, and depending on your role here you might be involved in that flow
plush oriole
I wonder how it works out in terms of the fund, for example, at the moment when both parties agree to have a refund, and the seller received the returned product, is the fund going to be automatically refunded to the buyer? or do we as the platform need to get involved?
wanton ibex
If you're facilitating the payment you'd need to initiate the refund
It also can depend on the account types used -- standard accounts eg would have their own dashboard and could initiate refunds on their own. It really depends on the details of your payment flow and the relationship between you, the customer and the seller
plush oriole
It also can depend on the account types used -- standard accounts eg would have ...
Yes we will be using Stripe Connect, so that sellers and buyers can handle this process themselves.
if that's the option, I assume that once the seller accepted to returned product, they can handle the refund themselves?
wanton ibex
Sure, but for example the experience for refunds/disputes will be different using Custom accounts vs Standard accounts. This is one of the facets outlined here:
https://stripe.com/docs/connect/accounts#choosing-approach
plush oriole
OK we will study this further,
Can I ask if Stripe has a paid service that provides Stripe integration on a marketplace?
wanton ibex
You can review our integration partners here: https://stripe.com/partners/directory?t=Consulting
plush oriole
thanks, can you recommend us one?
Our marketplace is for designer toys, collectors would be able to buy and sell their toys on our marketplace.
wanton ibex
I can't recommend specific partners, no. I suggest reviewing ones that seem to offer what you need and contact a few to discuss.
plush oriole
OK thanks