Which payment solution is adaptive for Magento store?
Every store owners hitting their brain and becomes very hectic in exploring the internet for any flexible or adaptive payment solutions to their ecommerce which is built in Magento framework. Usually nowadays most probably ecommerce stores are developed with highly secured framework but also on the other side store owners surfing the internet for integrating any payment solution extensions which are highly secured and flexible one for their customers to purchase the products regularly. For their customers the adaptive payment solution would remove their fear to calculate the price of items in their cart which allows them to add multi number of products in the cart page and becomes regular visitor of the specific store. If you’re the one who looking for some wondrous extensions to make your ecommerce store stunning against your competitors in this field here you go with Bootsgrid (https://bootsgrid.com/product-category/magento/). Yeah your adaptive payment is solution is here (https://bootsgrid.com/product/magento-2-paypal-adaptive-payments/) yeah it is developed on PayPal payment solution by Bootsgrid. It offers chained transaction of amount between Buyer, Seller and admin of the website.
PayPal Adaptive solution:
Actually this kind of PayPal payment solution is one of the boon for many ecommerce multivendor stores to receive the whole amount in bulk for whole order from the customer and then it will spread up between seller or vendor of the product and owner of the marketplace by receiving their commission fee in some of the easiest ways such as Parallel payments, simple payments and chained payments within the marketplace. From this payment Seller, buyer and admin all are getting beneficial at the same time even on single order by sending and receiving of payments.
Types of Adaptive Payments:
- Simple payments
- Parallel payments
- Chained payments
Simple payments enable a sender to send a single payment to a single receiver. For example, your website can use an Adaptive Payments payment flow to transfer money resulting from a sale from your customer’s PayPal account to your own account. This is the traditional kind of payment.
Parallel payments enable a sender to send a single payment to multiple receivers. For example, your application might be a shopping cart that enables a buyer to pay for items from several merchants with one payment. Your shopping cart allocates the payment to merchants that actually provided the items. PayPal then deducts money from the sender’s account and deposits it in the receivers’ accounts.
Chained payments enable a sender to send a single payment to a primary receiver. The primary receiver keeps part of the payment and pays secondary receivers the remainder. For example, the primary receiver receives $100 from the sender’s perspective. The primary receiver actually receives only $10 and passes a total of $90 to secondary receivers, Receiver 2 and Receiver 3.
Lets we have to gander its many incredible features which is stunning within this PayPal payment solution further below.
- Transfer and split payments: If you’re having the multi vendor marketplace online especially in Magento then this is your perfect choice for receiving the payments from the buyer with your commission fee and also it ensures the correct way splitting the amount for the purchased products from buyer and it also split the amount between you (admin) and vendor exactly by done the exact calculations.
- Enable/disable for sandbox or live mode: This is for every store owner who would like to buy and integrate this payment method on their Magento store after completion of full demo of the module. It will support you for enabling and disabling the live mode with the help of sandbox account you can test this payment module at any time you want.
- Easy and simple configurations: It is not much complicated module for handling on backend for admin and also it very simple and easy to configure, manage everything from backend admin panel.
- Perfect calculation for vendor and admin: perfect calculation has been done between vendor and admin transactions and also it ensure no way of creating any conflicts between vendor and admin regarding the commission fee which is received by admin. It calculates the exact amount based on the purchased items by the buyer.
- Chained payments: If in case the buyer send an amount of $100 to vendor after purchasing the items from their shop then vendor actually receives an of amount for the products as $10 remaining amount will send to the admin of $90 as a commission fee. This is only for an example.
- Sender’s initial registration: As a sender mostly everyone have their PayPal account but somehow if you didn’t any PayPal account then no worries you can create the new one with PayPal and then proceed to pay the amount for the order by login with PayPal.
- Multi receiver transaction: If the customer pays their total amount of products from different sellers then it will transact the amount separately to each vendor.