People familiar with Paypal or other E-Commerce payment methods..

[mattkenefick]

2 Part Payments and taking a commission out of it?

 

I was told this is possible by one person and that it's not by another. I'm not sure what the real answer is so hopefully someone can help me out. This is what I need:

 

 

Person 2 buys something from Person 1

Person 1 transfers money that day and money is held in escrow instead of being sent to Person 2

When Person 2 receives it, Person 2 says "Finish Money Transfer"

Money goes to Person 1 and 5% charge is taken out for use of this "Service" website they used to meet each other

 

 

Can that be done? The biggest thing is that the money has to be held for several days in the air until they both agree the service went through okay.

 

If the 5% charge isn't possible, I could still do math on the amount and just do 2 transactions, couldn't I? A built in feature would always be nicer though.

 

-Matt

[mattkenefick]

Nobody?

[tcollie]

Sounds like you want to "automate" the process when the buyer updates the status to received, the payment (less fee) is automatically sent.  I haven't really used my PayPal account in a while, but I'm pretty sure then answer will be no.  I don't think you can automate PayPal, or any other payment gateway to send automatic payments to another user of their service, but I could be wrong.

 

Of course, if you want to send the payments yourself, then this is completely workable.  You simply set up your system to notify you, or person authorized to act on your behalf, when the Buyer updates the status to "received" and then you simply pay the seller the amount (less fees) received from the buyer.