Hi everyone. We are a Magento solution company that we build and setup Magento (including the setup of payment method) for our clients.
We plan to collect fees from our clients’ sales by registering their stipe account as a connected account under our platform (STRIPE CONNECT).
We had an interface to register the account, but the fee is not collected.
We would like to know if anyone here has the experience to integrate Stripe in Magento then collect a fee from their connected account on the Stripe Connect platform.
Thank you in advance.
To collect fees from your clients' sales through their Stripe account connected to your platform, you can use Stripe's application fee feature. Here's how to set it up in Magento:
First, make sure that you have connected your clients' Stripe accounts to your platform using Stripe Connect.
In the Magento admin panel, go to Stores > Configuration > Sales > Payment Methods.
Click on the Stripe payment method that you have set up for your clients.
In the Stripe API section, enable the "Collect Fees" option.
Enter the percentage or flat fee that you want to collect from your clients' sales in the "Fee Amount" field.
Save the configuration.
Once you have set up the fee collection in Magento, you can create a charge on your clients' behalf using the Stripe API and specify the application fee amount in the "application_fee_amount" parameter. Stripe will automatically deduct the application fee from the payment amount and transfer it to your Stripe account.
Keep in mind that you need to be a Stripe platform account to use this feature, and you will also need to comply with Stripe's platform terms of service and other applicable laws and regulations.
I don't have personal experience integrating Stripe in Magento and collecting fees from connected accounts on the Stripe Connect platform. However, I can suggest that you consult with a Magento developer who has experience with Stripe Connect integration.
I recommend Magenest, they also have their own Stripe payment extension for Magento stores. They can help you integrate Stripe Connect and set up the necessary configurations to collect fees from your clients' sales. Additionally, you can also refer to the Stripe documentation for guidance on integrating Stripe Connect and managing connected accounts.