J-BusinessDirectory - J Business directory commission settings

On July 11, 2021, J-BusinessDirectory v5.6.0 BETA was released with “the Possibility to charge a commission” listed as a new feature. (See link Below)

https://www.cmsjunkie.com/news/j-businessdirectory-v5-6-0-beta-released

While setting up JBD we found the following settings in the Business Settings on J-BusinessDirectory:
• Appointments commission (%)
• Offer selling commission (%)
• Event booking commission (%)

But no real documentation explaining what it does, only that you can set "commission %" 


Based on these settings being in the business settings, can we assume J-BusinessDirectory now handles split payments where a Percentage of sales on J-BusinessDirectory goes to a Company Account, with the remainder going to the Client who has a Business Listing?

If yes, we would also like to ask the following questions:

Where would we include our Bank Account details for Our Commission Percentage?
If there is documentation on how the commission works can you send us the Link? 

Thank You.

Good questions pls keep us updated with the feedback and solutions for this..

Did you get any update about this?

The commission can be set in the directory general settings -> business details.
The commission set is used in a report

Appointments commission: set the percentage for the appointments commission , the commission will be calculated on the Reports > Payment reports.

Offer selling commission: set the percentage for the offer/product selling commission , the commission will be calculated on the Reports > Payment reports.

Event booking commission: set the percentage for the event booking commission , the commission will be calculated on the Reports > Payment reports.

Ok so these commissions is only reporting calculations and then have to be invoiced from the site owner to listing owner afterwards etc ?

Dear J-BusinessDirectory developers,

Thank you for your response to my previous question about the commission feature. I appreciate you clarifying that the commission feature is currently only used for reporting purposes.

I understand the purpose of including the commission feature, My guess on this topic would be that your development team are already working on, or have plans to move to an automated split payments system in the future having implemented the first seeds of implementing the commission settings in the configuration for  the commissions and the reporting system.

But just in case that’s not the case and to possibly help J Business Directory Admins get a better understanding...

I believe that the only logical progression is to integrate split payments at some point. This would ensure that all commissions are taken at the time of payment and split between the seller and the website admin’s bank account.

Manual invoicing for commission payments is time-consuming and error-prone, especially for businesses with a large number of clients. An integrated split payments system would save businesses a significant amount of time, effort, and money, and would also help to reduce the risk of errors.

The cons of not implementing split payments:

• Time-consuming: Manually generating and sending invoices to each client can be a significant time burden, especially for businesses with a large number of clients.

• Error-prone: Manual data entry can lead to errors, which can affect commission payments and lead to disputes.

• Administrative burden: Businesses need to keep track of all of their invoices and payments, which can be a burden.

• Late payments: Businesses may experience late payments from clients, which can lead to loss of revenue and the need to chase late payments which would be a nightmare if chasing a company based in another country to the country the J Business directory is located in.

Integrated split payments would solve all of these problems by automatically deducting commission payments from customer payments and sending them directly to the business's bank account. This would save businesses a significant amount of time and effort, reduce the risk of errors, and eliminate the need to chase late payments.

Integrating split payments into the J-BusinessDirectory platform as soon as possible would be a valuable addition to the platform and would make it even more attractive to businesses of all sizes.

A commission-based split payment option will create a no risk signup option that will make it an easier decision for businesses to sign up.

FYI:the following is for J BUSINESS Directory Administrators running their websites…

In case any J Business admins are interested in the payment Gateways that provide split payment services here is a list we compiled about 6 months ago, but please double-check just in case services have changed or are no longer available.

Here is a list of online payment gateways that provide split payment services for multi-vendor marketplaces in Africa, Latin America, Europe, Asia, and the UK:

Africa

• Flutterwave

• Paystack

• Selcom

• Yoco

Latin America

• Conekta

• Mercado Pago

• PagSeguro

• PayU Latam

Europe

• Adyen

• Mollie

• Stripe

• Worldpay

Asia

• Alipay

• Payoneer

• WePay

• Stripe

UK

• Adyen

• Checkout.com

• PayPal

• Stripe

These payment gateways offer a variety of features to support multi-vendor marketplaces, including:

• Split payments: The ability to automatically split payments between the marketplace and its vendors.

• Payouts: The ability to send payouts to vendors in a variety of currencies and payout methods.

• Seller accounts: The ability to create and manage seller accounts, including setting commission rates and payout schedules.

• Fraud prevention: Advanced fraud prevention tools to protect marketplaces and their vendors from fraud.

When choosing a payment gateway for your multi-vendor marketplace, it is important to consider the following factors:

• Supported countries and currencies: Make sure that the payment gateway supports the countries and currencies where your marketplace operates.

• Split payment features: Make sure that the payment gateway offers the split payment features that you need, such as the ability to split payments by percentage, fixed amount, or quantity.

• Payout options: Make sure that the payment gateway offers the payout options that you need to pay your vendors, such as bank transfers, PayPal, and local payment methods.

• Pricing: Compare the pricing of different payment gateways to find the best option for your budget.

I recommend that you contact the payment gateways on this list to learn more about their split payment services and to get a quote.




Additional benefits of integrated split payments:

• Improved customer satisfaction: Customers would appreciate the convenience of having their commission payments automatically deducted from their payments and sent to the website admin bank account. This would eliminate the need for customers to manually pay their commission invoices.

• Reduced fraud risk: Integrated split payments would reduce the risk of fraud, as the website admin would be responsible for collecting and remitting all commission payments. This would reduce the risk of businesses losing money to fraudulent commission payments.

• Increased revenue potential: Integrated split payments could help businesses to increase their revenue potential by allowing them to charge higher commissions. This is because businesses would no longer have to worry about the cost and time associated with manually invoicing and collecting commission payments.
  
  

I Hope this has been helpful to the JBD Admins that read this.

And a big thank you to the CMS Junkie team for the great product and work you do....