Withdrawals – Distribute funds to sellers  #

Purposemart uses withdrawals to distribute funds to sellers. You must first connect your Stripe and, or  Paypal account in order to receive electronic payments. When a buyer purchases an item from your store, the charge amount is automatically split between you and Purposemart. Purposemart will directly transfer the balance account into your connected accounts.   

Disbursement Schedule  #

Payment from all orders placed using PayPal Express Checkout will be disbursed to you, 7 days from the order date for domestic orders or 14 days for international orders.

Stripe payments will be disbursed via stripe in real-time.

Restricted Balance   #

We may place a payment on hold if we find any risk in the transaction, or if a return request is opened by the buyer prior to the payment being disbursed, payment will be held until the return is resolved.

Purposemart also reserves the right to withhold payments from sellers who violate seller policies, payments will be held until the seller and their account is compliant with all policies.

Refunds  #

When you issue a refund to a buyer through The RMA feature, or a Purposemart representative issues a refund on your behalf the amount will be deducted from your next payout or from your bank account depending on fund availability. 

If your account’s balance is sufficient at the time the refund was issued, the amount will be deducted from your balance.

If your account’s balance is negative or insufficient at the time the refund was issued, Purposemart will request a transfer from you or will automatically debit your account to cover the refund. 

When you issue a refund to a buyer through The RMA feature, the amount will be deducted from your next payout or from your bank account depending on the refund was issued.  

Disputes and Chargebacks #

You will receive notifications about open disputes in connection to orders that were placed in your store. You are ultimately liable for the disputed amount and associated fee. You can use the Accounting page to keep track of transactions. 

You are responsible for disputes and chargebacks that are related to orders that were processed through Stripe Connect.  You can respond to claims directly from your stripe account for chargebacks. 

Adjustment to Previous Disbursements #

Purposemart and Purposemart’s payment processors ( eg. Paypal, Stripe) can correct any mistakes in payments made by or to you, including any processing errors we discover, by debiting or crediting your financial institution account. You will be made aware of the correction. 

How Fund Disbursement Works #

Here’s how the fee structure breaks down

  • Transaction fees (commissions):  8% charged on the final sale price, plus the shipping costs. Sales tax is excluded from the transaction fees. 
  • Processing fees: credit card processing fees paid to third-party processors 
  • Restricted Balance: all or a portion payout is on hold 

 In this structure, the entire $88.80 payout is released to the seller on the payout date. 

Total sale$100.00
Transaction fee ( 8%) $8.00
Processing fee (2.9% +0.3)3.2
Payout disbursement$88.80

In this structure, only $58.8 is released to the seller. $30 is on hold until the dispute is resolved.  

Total sale$100.00
Transaction fee ( 10%) $8.00
Processing fee (2.9% +0.3)3.2
Restricted Bal ( fraud risk )$30.00
Payout disbursement$58.80

Powered by BetterDocs