1) What is the generic payment feature?
It is a feature on your marketplace that allows you to bring your own payment processor, apart from Stripe and PayPal (which are Arcadier’s default payment processors). Arcadier launched this feature in order to cater to marketplaces based in countries that are not supported by Stripe or PayPal. For example, Russian marketplaces may only want to use Qiwi Wallet or Yandex Money, while Chinese marketplaces may only want to use Alipay or Ten Pay.
As an administrator, you may enable this feature from your dashboard under ‘Payments’. However, we suggest that you seek assistance from a developer with relevant payment integration knowledge.
2) How do I activate this feature?
Activate the generic payments feature from your administrator dashboard
Create a connector that runs on your own server. This means you might need to get a developer to help you create the connector.
Make sure you have registered as the Merchant on Record with the payment processor of your choice.
You can integrate more than one generic payment processor.
You may choose to use your generic payment processors only and not use Arcadier’s default payment processors (Stripe and/or PayPal) at all.
3) What is the difference in how payment is settled with Stripe, Paypal and generic payment processors?
Whenever a buyer conducts an online transaction via PayPal, the transaction sum is immediately divided and transferred into 2 different accounts. The marketplace administrator will receive the marketplace transaction fee in his PayPal account while the rest of the transaction will be credited to the Seller’s PayPal account. Because of this, the marketplace administrator and the seller will both be recognised as individual merchants on PayPal’s transaction records.
Just like PayPal, when a buyer conducts an online transaction via Stripe, the transaction sum is immediately divided and transferred into 2 different accounts. The marketplace administrator will receive the marketplace transaction fee in his Stripe account while the rest of the transaction will be credited to the Seller’s Stripe account. Because of this, the marketplace administrator and the seller will both be recognised as individual merchants on Stripe’s transaction records.
With generic payment processors, as a Merchant of Record, the marketplace administrator will be receiving all the money (subject to the commission from your payment partner/s) from transactions on your marketplace. The marketplace administrator will keep the marketplace transaction fee and transfer the remaining transaction sum to the marketplace seller. Arcadier’s generic payment feature does not support split payments even if the payment processor has that feature.
Due to this, even though it is possible to use a combination of default and generic payment processors in your marketplace, we would advise marketplace administrators to use only one type of payment flow —either Arcadier’s default split payments or generic payments — to reduce issues you may face in settling payments with your merchants.
4) Frequently asked questions:
1. Can I integrate a different version of PayPal payment processor into my marketplace via the generic payments feature?
Yes! You can integrate other versions of PayPal e.g. PayPal Express into the marketplace via generic payments. However, do note that our generic payments feature does not support payment gateways operating via split payment flow.
2. What happens when a customer asks for a refund (chargeback) for a transaction that was conducted on a marketplace via a generic payment processor?
As the Merchant of Record, the marketplace administrator will have to bear the cost of the refund if he has already conducted settlements with his sellers. The money will immediately be taken from his payment account once the bank receives the chargeback request from a customer. Subsequently, the marketplace administrator will have to contact the seller separately to reclaim the refunded transaction.
You can also watch our YouTube video on default and generic payment: https://www.youtube.com/watch?v=_-ku2xF7Tes&list=PLkqk1XgcvzNnTFyXg2UI2Eg3h5RWfDbN-&index=6