Background: The website is designed for property managers and tenants to do the following -
1. Property Manager registers for the site
2. Property Manager creates their Tenant users
3. Property Manager and Tenant verify their own bank accounts using Balanced Payments from our site
4. Once verified, the Tenant logs in, enters an amount to pay to the Property Manager and submits payment
5. Amount entered by Tenant is debited from their account using ACH and placed in Marketplace
6. Marketplace automatically credits rent amount to Property Manager (minus a $7.50 transaction fee).
The problem I have is when the Tenant pays, the debit is created in the log, but the credit has a 409 error "insufficient marketplace funds"; does anyone know how to remedy this error? Should I/Can I put a delay on the issuing of the credit until the debit is actually received in the Marketplace? I have several screenshots if it would help..
Thank you in advance for the assistance,
Jake
Founder, RentEater.com
You're using ACH, or bank account, debits here. Due to the asynchronous nature of the ACH network, these debits don't succeed immediately, like credit card debits do. They are batch-settled once per day, and take around 3 business days to succeed. This page has some more information on this process:
https://www.balancedpayments.com/ach-debits
One way to work around this is to keep a reserve of funds in your marketplace's escrow account, so that you can pay out credits immediately after creating a debit. The credit will come from this reserve, which will be replenished when the debit succeeds.
Related
I would like to inquire about this:
https://developer.paypal.com/docs/classic/express-checkout/ht_basicRefund-curl-etc/
How to initiate an automated refund based on a product ordered that is out of stock.
Example:
Customer A goes to our website and orders product A. Product A is unfortunately out of stock but we did not notice it right away(restaurant). Instead of refunding people manually, can this API refund the person automatically based on a call back from our website.
Also when a refund is given, is there a charge?(Charge back), if yes, where can I find out about the cost per charge back.
Finally, how long does it take for the refund money to reach the customer's account if the refund is initiated let's say 5 minutes after the sale.
Thank you,
Regards,
Ben
ps: I am posting the query here as I was sent to this website from the Paypal support page.
You could do this using the RefundTransaction API from within an IPN script.
A general refund is not considered a chargeback. That only happens if you refuse to provide a refund for your buyer, so then they end up filing a dispute with their credit card company. The card company would then give them the money and take it from PayPal, who would then come back to you for it. That's when you would have to pay a fee for that chargeback. If I remember correctly that fee would be $25 for such a scenario.
So the refunds wouldn't be a chargeback, but you would lose the 30 cent transaction fee you pay when you do the original transaction. PayPal refunds you the percentage they take, but not the flat 30 cents.
Also, if this is something happens a lot PayPal may limit your account or it could cause you other little problems. Lots of refunds could mean upset customers, and PayPal doesn't want that...and neither should you.
So, all of that said, what I would recommend is that you handle the inventory control before the purchase is made. You're saying you could hit your database to check inventory and then automatically refund, right? Why not hit your database to simply disable the product purchase if the inventory is low instead?
We use DoExpressCheckoutPayment API function to do payment authorization. The DoExpressCheckoutPayment response has ReceiptID field, which is empty if the payment was funded from a Paypal account or is filled if the payment was by credit card. Is the ReceiptID field also filled if the payment was by debit card? If so, how can we distinguish a receipt is that is for credit card from a receipt that is for debit card? Or is there some other way to distinguish debit card payments? We get a lot of fraudulent transactions with stolen credit cards. Since credit card payments are likely fraudulent and debit card payments are likely good, we would like to have a way to know whether a payment was from credit card or debit card to help us decide whether to accept the transaction or not.
Thanks
No, PayPal does not tell you how one of their accountholders is funding a payment. That information will not be available to you.
If you will permit me to editorialize for a minute, though:
That's a Good Thing, because the reality is much more complex than debit vs. credi. You don't want to try to second-guess all of these possibilities. Payments might be partially funded from multiple sources; have conditional aka backup funding; use "cards" that are neither the debit nor credit networks you are familiar with (e.g. hybrids like China Union Pay, virtual debit cards backed by who-knows-what, ...); various bank draft networks/mechanisms; PayPal lines of credit; etc. In general, PayPal is doing a LOT of sophisticated things to detect fraud and they deliver very low fraud rates for accountholder payments.
Also: if you are processing an accountholder payment (rather than a direct credit card payment), PayPal's seller protection policies replace whatever protections (usually not much!) you would receive from card networks for Card Not Present transactions. These protections do not depend upon what funding the accountholder uses and may be very useful to you. I recommend you read the policies and determine if you can align your business so that most or all of your sales can qualify for these protections.
If your usage cannot be eligible for PayPal Seller Protections, though, then while PayPal still runs their fraud detection they have a pretty limited set of facilities for you to layer on added fraud detection of your own. They will give you a limited amount of information about the accountholder, but as I noted above this does NOT normally include the account's funding source(s).
I have an application set up in Paypal Developers and tied into my PayPal account. I can create payments and have a user make the payment from my website. The transactions show up in the dashboard on the live side.
However, the money never leaves the customer account and never enters the business account.
What am I doing wrong?
You're charging the PayPal wallet? If so, are you sure you're calling /execute to execute the transaction?
Don't forget, if you're charging a credit card, you won't ever see money leaving a user's PayPal account. Credit card processing != charging a PayPal account.
For e.g:- 100% payment will go to admin’s account. A automatic transaction will be performed where admin will see total revenue next to which a button will be located. Clicking on which, will perform the automatic transaction online and after the deduction of admin’s commission rest of the amount will be transferred to other user's(Can be 2 or 3 users) account.
You might look for "Chained Payments" https://developer.paypal.com/webapps/developer/docs/classic/adaptive-payments/integration-guide/APIntro/
I'm not sure this is the right place to ask but anyway:
I have an e-commerce platform that I want to monetize based on a percentage of revenue made (eg. a store that uses my platform has an order for $100, so I get 1% or $1, while they get $99).
Currently I offer paypal and credit card payments (via my merchant bank) to all stores on the platform (ie. all payments made, regardless of the store, are through the same paypal and merchant account). I then pay these stores per month which is ok for the moment because there are only a few stores using the platform.
Moving forward I want to automate this process and ideally have it operate in real time.
Paypal have an "Adaptive Payments" API that allows chained or parallel payments on a single transaction processed in real time. This means I can skim my 1% and pass the rest of the money along my customer in real time.
I was wondering if there is a similar real-time service for Credit Card processing*? If not, is there a bank/merchant that allow API payment access so I can automate payments per day or week? OR should I just transfer all money from my bank to paypal and use this to pay my customers?
*I realise you can process credit card payments through Paypal without having to sign up, but this is less than ideal. I want the credit card processing to happen on my page as at the moment I'm seeing about 70% of orders using this over paypal.
I was wondering if there is a similar real-time service for Credit Card processing?
No there isn't. True merchant accounts do not allow for split payments. Only one entity can receive a payment and it must be the business the merchant account has been set up for. Receiving the payment for someone else is called factoring and is against all of the major credit card issuers' rules. If a merchant account is found to be factoring it will be closed and the merchant who owns the account will be blacklist. This will prevent them from ever having a true merchant account again. Additionally, there is no way to send money with a merchant account other then issuing a refund for prior purchases.
If not, is there a bank/merchant that allow API payment access so I can automate payments per day or week? OR should I just transfer all money from my bank to paypal and use this to pay my customers?
Other then using adaptive payments, this is definitely the easiest and most straight forward way to accomplish this.