We’re excited to announce that xenPlatform can now help you charge a Platform fee when accepting payments on behalf of your Partners.
xenPlatform is a solution for marketplaces and platforms, where you can manage payments for sub-merchants, franchises or different branches. Our latest feature allows Platform businesses to monetize more simply when offering payments. You can charge a flat or percentage fee that will be automatically transferred to your Platform account when payment has settled.
Type of Platform Fee
xenPlatform can help you charge two types of Platform fee – flat or percentage fee.
|Ideal for large basket size||Ideal for small basket size|
The feature enables various use cases, such as in POS systems or insurtech platforms. In this article, let’s take a deeper look at its implementation on an eCommerce marketplace.
Let’s say you’re running an eCommerce marketplace called Xen, with hundreds of sellers on your platform. When customers place an order to one of the sellers using Xen’s platform and paid, both the seller and Xen would immediately receive their share of the payments, depending on the type of platform fee that Xen charges.
Let’s say Xen charges a flat platform fee of Rp10,000 per transaction. If customer A checked out with a basket size of Rp5,000,000 and customer B checked out with Rp90,000, the seller will still get charged with Rp10,000 for both transactions.
Let’s say Xen charges a percentage based platform fee of 10% per transaction. If customer A checked out with a basket size of Rp5,000,000 and customer B checked out with Rp90,000, the seller will be charged for Rp500,000 for customer A’s transaction and Rp9,000 for customer B.