Our Marketplace is setup to use one of two payment processors, Stripe or Square.
Included in this article:
What is Stripe?
Stripe is a highly sophisticated payment platform that processes billions of dollars in transactions annually. It securely handles sensitive payment information and processes payments for companies selling in the Online Marketplace on EstateSales.NET. Stripe serves as the intermediary for customer payments and payouts to sellers, ensuring you get paid for the items you sell.
Stripe Setup
Have the following information ready:
- Basic company details (name, address, business type, EIN, website, phone)
- Bank account and routing number
- Proprietor/owner details (name, birthday, address, last four digits of Social Security number, email, and password)
To start selling on the Marketplace using Stripe:
- Log in to your EstateSales.NET account.
- Navigate to the account home screen by clicking Account in the top right corner (or Menu on mobile devices).
- Select Marketplace > Marketplace Settings.
- Under step one, click Connect to Stripe. You’ll be redirected to Square’s website to enter basic company and bank account information.
If you already have a Stripe account, simply log in to connect it.
Fees
- Stripe charges 2.9% + $0.30 per successful transaction.
Refunds
You can refund a customer through either your Stripe account or your EstateSales.NET account.
- Same-day refunds: Stripe will refund the full amount, including its transaction fees and any EstateSales.NET fees, as long as the refund is processed on the same day as the original transaction (unless there’s a chargeback).
- After same-day refunds: If processed after the same day, Stripe's fees are not refunded, but EstateSales.NET fees will be.
Refunds are submitted to the customer's bank immediately and generally appear as a credit within 5-10 business days. In some cases, refunds processed soon after the charge may appear as reversals, where the original charge simply disappears from the customer’s statement.
Stripe Payouts
For more details about how and when payouts are made, you can refer to Stripe’s official Receiving Payouts page.
For more information about Stripe please see their help pages: Stripe Support, Help Articles and FAQs
What is Square?
Square is a trusted, secure point-of-sale (POS) system handling billions of transactions each year. It’s widely used by small business owners to process payments safely. With Square, neither EstateSales.NET nor its users have access to sensitive banking or credit card information. For more information about Square's security measures, visit their Security Center.
Square Setup
Have the following information ready:
- Basic company details (name, address, business type, EIN, website, phone)
- Bank account and routing number
- Proprietor/owner details (name, birthday, address, last four digits of Social Security number, email, and password)
To start selling on the Marketplace using Stripe:
- Log in to your EstateSales.NET account.
- Navigate to the account home screen by clicking Account in the top right corner (or Menu on mobile devices).
- Select Marketplace > Marketplace Settings.
- Under step one, click Connect to Stripe. You’ll be redirected to Square’s website to enter basic company and bank account information.
If you already have a Square account, simply log in to connect it.
Fees
- No setup, monthly, cancellation, or minimum fees.
- Transaction fees: 2.9% + $0.30 per successful transaction.
- Bonus: Square allows you to accept PayPal payments.
Refunds
Unlike Stripe, Square refunds its processing fees if a transaction is refunded.
- Important: Square assesses its fees on both the item price and any collected taxes. For example, if an item costs $10 and taxes are $2, Square's percentage is calculated on the total $12.
Chargebacks/Charge Disputes
Square offers a customer-friendly approach to handling chargebacks. It does not charge a fee when a customer disputes a payment and works directly with the customer’s bank to resolve the issue on your behalf.