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Not sure exactly what you are asking here. Essentially companies like this collect payment from the "buyer", deposit payment in their bank, and then when it is
by jeffmould 16y ago
Not sure exactly what you are asking here. Essentially companies like this collect payment from the "buyer", deposit payment in their bank, and then when it is time to pay the seller, they deduct the fees from the amount deposited and pay out to the seller using their account. I am not sure exactly how AirBnB does it, but I bet that it is pretty close to this process.
- jeffjanzen 16y agoThat's exactly how it's done. The problem is getting a payment processor (or more accurately, their acquiring bank, who takes on all the risk) to approve you to operate under that model. Since the merchant doesn't have control over the product or service being purchased (as in the cases of airBnB and yardsellr), there is a greater risk of chargebacks. Generally, acquiring banks won't touch these business models.