Stripe API provides robust solutions for marketplaces, including features to handle complex payment scenarios:

• Payment Collection: Accept payments from buyers for products or services.
• Vendor Payouts: Distribute funds to multiple vendors or service providers.
• Commission Management: Calculate and deduct commissions or fees.

Setting Up Marketplace Payments with Stripe API

Create a Stripe Account

• Sign Up: Register for a Stripe account if you don’t have one.
• Get API Keys: Obtain your API keys from the Stripe Dashboard for authentication.

Create Connected Accounts

Set up connected accounts for your vendors using Stripe Connect. This allows you to manage payouts to multiple vendors.

Standard Accounts: Vendors manage their own Stripe account.

javascript

const account = await stripe.accounts.create({ type: 'standard', });

Express Accounts: Simplified onboarding for vendors with Stripe handling most account management.

javascript

const account = await stripe.accounts.create({ type: 'express', });

Custom Accounts: Full control over the account experience with Stripe managing compliance and operations.

javascript

const account = await stripe.accounts.create({ type: 'custom', country: 'US', business_type: 'individual', });

Calculate and Deduct Commissions

Calculate commissions or platform fees based on the transaction amount and deduct them before transferring funds to vendors.

Apply Fees: Calculate the commission and deduct it from the payment amount before transferring to the vendor.

javascript

const amountReceived = 2000; const commission = amountReceived * 0.1; // 10% commission const amountToVendor = amountReceived - commission;

Handle Fees with Stripe Connect: Use Stripe Connect to automate fee deductions.

javascript

const charge = await stripe.charges.create({ amount: 2000, currency: 'usd', source: 'tok_visa', application_fee_amount: commission, transfer_data: { destination: 'acct_1FhZy2Jj7hu6DvMi', }, });