Buckaroo Support - EN

Seller Accounts

When implementing the Buckaroo Market Place, in addition to the Marketplace itself, each underlying Market Place Merchant also receives an account. This is called a Seller account. For that reason underlying Market Place Merchants are called Buckaroo Sellers. Marketplace accounts and Seller accounts are linked. Both the Market Place Merchant as well as the Sellers are part of the KYC process at Buckaroo. The KYC therefore does not have to be executed by the Market Place.

Handling payments

The funds to be transferred from the Market Place account to the Seller account are visibel as internal transfers. The split amounts end up on the various Seller accounts and the Funds account of the Market Place. Both the Market Place accounts and the Sellers accounts are paid out according to Buckaroo's standard payment process.

Payout delay

The Marketplace can adjust the payout delay for the different transactions as desired. Depending on the profile of the goods, this may mean waiting for some goods to be delivered, while with other goods the funds will be paid out immediately after successful payment on the platform. The options for the Marketplaces on the Buckaroo platform are as follows for continuing the split payments:

  1. The split payments wille be transfered directly to the Seller accounts after a successful payment
  2. After the specified days, the split payments are transferred to the Seller accounts
  3. Split payments are waiting for the payout request of the Market Place. After that they are transferred to the Seller account(s)
Refunds

It is possible to refund the money when necessary. In that case, the refund will be created by the Marketplace. The refund is created as an open transaction (pending transaction). This will be processed immediately, if there is sufficient balance on the Seller account. If not, the pending status will be maintained until sufficient funds become available on the Seller Account. The refund to the debtor will be done immediately, independent form the available balance on the Seller account. 

Account construction

A Marketplace account has two types of accounts:

  • The Funds account: this is the account on which the Marketplace funds are available for the payout to the Marketplace owner
  • One or more Seller accounts: these are accounts on which the funds are available for payment to the individual Seller