Description
Magento 2 Multi Vendor Razorpay Split Payment module can help you grow your marketplace business. It makes it easy for customers to pay for products during checkout, and it lets you split payments between the sellers and the marketplace admin.
It is easy to use and provides various payment options. Such as credit cards, debit cards, net banking, and UPI (Unified Payments Interface). Magento 2 Marketplace Razorpay Payment allows the admin to receive its commission using this online gateway.
This can help you improve the efficiency of your marketplace and make it easier for sellers to get paid for their products and orders. It also generates invoices automatically for all transactions. This can help you keep track of your finances and make it easier to manage your marketplace.
Please Note - This is a marketplace add-on, so you must install Webkul Magento 2 Marketplace Module first.
Highlighted Features of Magento 2 Multi-Vendor Razorpay Split Payment
Razorpay Checkout
Customers can conveniently pay using Razorpay at checkout.
Multiple payment options
Allow checkout with many payment options like - Credit/debit card, net banking, and QR/UPI.
Seller bank details
Sellers can receive payments directly into their linked bank account.
Split Payment Handling
The admin gets the set commission; the rest goes to the seller's account.
Auto Generate Invoice
The admin has the option to generate invoices automatically.
View Razorpay Transactions
Sellers can also track their Razorpay earnings and transactions in their dashboard.
Why Do We Need Magento 2 Multi Vendor Razorpay Split Payment?
The Magento 2 Multi Vendor Razorpay Split Payment module is a payment gateway that allows you to accept payments from customers and split the money between sellers and the marketplace admin. It supports a wide range of payment methods, including credit cards, debit cards, UPI, and net banking.
It is also PCI DSS Level 1 compliant, ensuring the security of your customers' data. Marketplace Razorpay is easy to integrate with your Magento 2 store and has a transparent and competitive pricing structure. It also offers 24/7 customer support.
Razorpay Payment Gateway Integration in Magento 2 Marketplace
The store owner can update settings from the backend panel to enable the features like:
- Enter the API key from Razorpay to connect marketplace.
- Select the preferred payment action - Authorise only or Authorise and capture.
- Admin can set payment method title from the backend.
- Set up cron to clear shopping cart items after a certain time period.
- The admin can set cron time to empty old cart items.
- Enable auto generation of invoices for better order management.
- Use Webhooks to send notifications about events such as order paid and payment authorized.
Marketplace Split Payment using Razorpay Route
Magento 2 Razorpay Route extension easily divides the customer payment between sellers and admin.
- The seller needs to link the bank account to connect Razorpay.
- The seller needs to mention business category details and address.
- The seller can enter the bank account number and IFSC code.
- Once the sellers’ bank account is linked, they can receive payments directly.
- Check the Razorpay payment transactions to keep track of orders.
Multiple Payment Options
Magento 2 Multi Vendor Razorpay Split Payment provides a wide range of payment methods to customers. This makes the shopping journey easy and convenient.
- Allow checkout with multiple payment options.
- Multiple types of cards (debit and credit) are supported - Visa, MasterCard, Rupay, and Maestro.
- Various UPI / QR codes supported - GooglePay, PhonePe, Paytm, BHIM
- Netbanking - all Indian banks are supported.
- Wallet payment using Mobikwik, Freecharge, Airtel payment bank, and Jio money.
- Pay Later options- ePayLater, Simpl, ICICI bank PayLater Kotal Manidera Bank, and Lazy Pay.
Online Refund Using Razorpay
Refunds are important in e-commerce because they allow customers to return items they are not satisfied with.
- The admin can do an online refund and return the payment using the Razorpay gateway.
- Sellers can also do an online refund to return payment using the Razorpay gateway.
- Once the refund is successfully processed, the status is updated within the Razorpay dashboard.
- It enables seamless customer service, helps maintain customer satisfaction, and builds trust among customers.
- The Magento 2 RMA System Marketplace module can help you automate the refund process and make it easier for your customers to return items.
Support
For any query or issue please create a support ticket here http://webkul.uvdesk.com/. You may also check our top-quality Magento 2 Extensions