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Payments and Transaction Fees FAQs
Payments and Transaction Fees FAQs
1. Do I need to provide a shopping cart?
2. What kind of payments can my online store and marketplace merchants accept?
3. What are the credit card transaction fees?
4. Who pays the credit card transaction fees?
5. How do marketplace merchants get paid when their items or products are sold?
6. What are the payout fees to marketplace merchants?
7. Who pays the payout fees?
8. Does Jibbio collect any additional transaction or administrative fees?
9. Are sales tax rates automated at checkout?
10. Can sales tax rates be applied, based on region?
11. How are refunds processed?
1. Do I need to provide a shopping cart?
No, you only need to enter your PayPal Business or Stripe account information to accept payments.
2. What kind of payments can my online store and marketplace merchants accept?
Your online store and marketplace merchants can accept every method of payment offered via PayPal and Stripe.
3. What are the credit card transaction fees?
4. Who pays the credit card transaction fees?
The owner of the sold item or product.
5. How do marketplace merchants get paid when their items or products are sold?
When a customer purchases an item or product from a merchant, 100% of their payment is initially deposited in your PayPal or Stripe account (Jibbio member / website owner).
Next, a payout payment is automatically sent from your account (less your commission) to the merchant's PayPal or Stripe account a day after their refund policy expiration date, which merchants choose per item or product (14 days is default).
6. What are the payout fees to marketplace merchants?
PayPal Payouts and Stripe Connect charge an average 2% payout fee for each payment sent from your PayPal or Stripe account to the merchant's PayPal or Stripe account.
7. Who pays the payout fees?
The Jibbio member (website owner).
8. Does Jibbio collect any additional transaction or administrative fees?
No, Jibbio does not collect additional transaction or administrative fees.
9. Are sales tax rates automated at checkout?
Yes, with the exception of the Jibbio SOHO plan, you can select the built-in automated tax software to calculate the appropriate tax rate at checkout based on the customer's zip code.
Alternatively, you will be able to integrate your Avalara or TaxJar sales tax software account (coming April 1, 2024), which provides your customers real-time tax rates for every transaction from more than 12,000 tax jurisdictions based on product or service categories, and automates your tax filing process for compliance.
10. Can sales tax rates be applied, based on region?
Yes, you as well as marketplace merchants (individual and business) can enable the setting to charge sales tax at checkout when customers purchase from specific regions (i.e. if you have a sales tax permit).
For every region, edit the prepopulated sales tax rates (based on the customer's zip code) or select the built-in automated tax software to calculate the tax rate at checkout.
In addition, apply a sales tax rate or tax exemption at the product level.
Learn how sales tax works for online sellers in the US and Canada.
11. How are refunds processed?
When a refund is issued, the customer's payment (including your commission, if applicable) is refunded.