With AgoraPay, you can onboard and manage your Vendors and accept payments on their behalf. The platform allows you to easily receive funds from end-customers, split payments and payout to vendors.
In this part of the documentation, we describe the following:
- Vendors onboarding: this is the process of accepting new Vendors in your marketplace, either directly from the AgoraPay platform or from your own solution through our API.
- Pay-In: this process corresponds to capturing the payment from the user purchasing through your marketplace and securely storing it.
- Transfer funds: for each Pay-In you receive, you have to split the payments between one or multiple vendors, deduct costs and commissions, and hold funds until payout.
- Pay-Out: Decide when and how Vendors are paid by securely transferring funds between your account and those of your Vendors.
Work in progress
The onboarding process has been simplified as much as possible to allow you to easily add and manage your Vendors on the platform. It includes:
- Online integration of new Vendors on the platform
- KYC check and validation managed by AgoraPay
To onboard your Vendor, you can choose to:
- Build your own onboarding solution on your marketplace
- Use AgoraPay Hosted Onboarding solution
Check out our full Vendor's onboarding process to onboard your first Vendor.
A payin is the process of accepting payments from your customers as they go through the purchase experience on your marketplace.
A number of payment methods are supported and you have the choice to build the user-experience through 2 implementation options. Capturing the payment details is the initial step of payment processing through AgoraPay.
Check out more information about Payin.
Payments and funds transfer
When receiving a payment from a shopper, you can split the funds between various Vendors accounts and deduct costs such as commissions (you apply to your vendors) and payment fees (applied by AgoraPay).
You can decide to split the funds whenever you want, within a month. Once the split is done, you are still able to adjust the funds after the transaction in the event of additional invoicing or a specific discount.
Check out more information about Managing Funds
Payout can be done after receipt of the funds from AgoraPay, but only if any payment split has been done.
You can execute payout on a bank account whenever you want through the payout/create API or alternatively automate the payout process by creating a recurrent Payout.
Check out more information about Payout.