Commission and currency

Hello @haiderkb,

Thanks. Yes, we are just starting it.
For now, commissions will be created based on shop currency, but we are going to improve it later.

See you

Ok thank you. I look forward to it. this could be a small but important element for me once automatic commission payments are in place.

Is this part of the plan?

Best regards,
Haider

Hi,

Yes, it is part of the plan.
We are glad to hear you are actually using this plugin.

If you have more ideas, please tell us.
See you

Good to hear.

I am certainly trialling it against WC Vendor. My requirements are specific so not all the fancy bits are needed. Just certain specifics done well.

Haider

Hello @haiderkb,

Can you help us with one issue regarding multi-currency?

Let’s suppose this scenario:
– A multi-currency shop where USD is the default currency and EUR is the secondary currency. 1$ can be €0.5, just to make it easier.
– The commission is 10%
– Vendor B has a product costing $10 .
– User C from Europe is buying a product from B. So he is paying €5 for this product.

Now there goes my question. What is better?
– Shop owner A sends €0,5 or $1 of commission to B?

I think he should pay $1 to B. I will explain.
I think that Shop owner A, regardless of vendors locations, needs to work with only 1 currency. The currency that he will use to pay vendors. And besides that, if we use just 1 currency for commissions we can make operations like summing values for example. If each commission has it’s own currency it will not be possible I think.

If I’m thinking something wrong, please tell me.
What do you think?

I think commissions should always be in shop base currency.
– Because it’s the same currency the shop owners will use to pay all vendors.
– Because shop owners / vendors can sum the commissions using only 1 currency. If commissions are in different currencies it will not be possible.
– There will be no issues with fixed commissions

Do you think “commissions in order currency” are worthy?
I think it’s not necessary. I just think we need to create commissions taking the order currency in consideration, but converting it to the shop base currency.

Tell me what you think. Thanks

Hi

Yes there are many scenarios and I understand this. It is about making options available that suit different ones.

In our case if I have Vendor A is in USD and Vendor B in CAD and myself say is Vendor Alpha (base shop and currency) GBP. Vendor A has a shop page in USD and when I pay him, he wants his commission in USD. Vendor B likewise etc. This is also my preference as I set products (versions of) per geolocation as they are priced differently.

Different multi shop set ups will require different options, but I don’t think there are too many variations that would satisfy all.

So when you mean shop base currency I would prefer to say Vendor Shop Base currency rather than site base currency.

Commission in order currency I think is not a good approach, so I agree.

There is a good discussion here on a rival product forum, but issues are the same of course.

With you Booster product combined with Marketplace, I am sure that you could cover most scenarios. That really would be a JetPack

https://www.wcvendors.com/help/topic/currency-switcher/

I hope this helps.

Haider

Thanks, I’m going to take a look.

So how do you think this option should look like?

Currency used to pay commissions?
– Vendor currency
– Order currency
– Shop currency

Hi Thanks

Do you mean a list?

If so then my opinion would be, for clarity, to say Vendor currency, and Shop (Base) currency etc. I don’t know of the requirement for Order currency.

Using your Booster Pro I also limit the shopping basket to products purchased in a single currency. I appreciate that others may require multiple with a conversion at the end.

The important issue for me is that when the over all commission to a vendor is calculated it needs to be in the currency the Vendor requires it so when an automatic payment is made to them it is correct. This is the problem I had with WC Vendor. Much of which is discussed in thread linked above.

Of course one would need a system in place to pay Vendors the commission. Like Paypal adaptive payments. Something I need to get to grips with myself. Apparently it can also be done with Stripe

Haider

Ok, I really appreciate your comments.
Thanks ??