VENDOR COMMISSION & PAYOUT
HOW DOES THE COMMISION SYSTEM WORK?
Once a customer pays for his/her order the commission gets automatically deducted. You as the Vendor will receive an email notification of each new order. Each notification will indicate the order details and the commission amount.
WHY PAY COMMISSION?
- Maintaining and ensuring the site runs smoothly and securely.
- Covering general administrative costs.
- Covering site marketing costs to attract potential customers.
- Cover shipping logistics.
WHEN WILL YOU RECEIVE YOUR ORDER PAYMENT?
Vendors will receive the payments of all their orders every second and or last Friday of a month. Only cleared Customer Payments will be included at the time of Payouts, if a payment clears after payout time it will be included in the next scheduled payout.
HOW DOES THE PAYOUT SYSTEM WORK?
Once an order has been successfully placed the payment goes directly into the secure VendorBuy PayFast or Bank account. Payouts will be made directly to the Bank details provided on the Vendor’s Store Profile.
WHY ARE PAYOUTS ONLY EVERY 2 WEEKS?
Payout will happen every second and last Friday of a month, in order for us to keep transaction fees as low as possible. Lower transaction fees means we are able to keep our commission as low as possible.
WHAT IF I NEED PAYMENT EARLIER?
Vendors are able to request an earlier payout time, however a small payout fee of R10.50 will be charged for early payouts.
The early payout fee is to cover the transaction fee that applies.