Payment and Fees

The admin can apply the following settings in the payment and fees card of the application:

Mode

The admin can use the toggle key to switch between test and production modes.

 

  • Make sure the admin completes the KYC process to switch to production mode.
  • Users cannot toggle back to test mode once they move to production mode and launch the app. They must obtain the stripe keys that are authenticated for payments.

Mode

Card Payments

 

  • Make sure the admin creates an account on Stripe to generate the publishable and secret keys.
  • The publishable and secret keys vary in test and live modes. The admin must provide the appropriate keys based on the selection of mode.

The admin must provide the following information in the Cards Payment section:

  • Publishable Key: Provide the publishable key.
  • Secret Key: Provide the secret key.
  • Statement Descriptor: Provide a suitable description of the card payments.
  • City: Provide the name of the city if the payments are made through Checkout.com.

  • Seller Payouts Frequency: It is an interval at which sellers on the NFT marketplace will receive payouts. The admin must select the following frequency from the dropdown list.

    • Daily: Payments will be disbursed to sellers daily.
    • Weekly: Payments will be disbursed every Monday of the week.
    • Monthly: Payments will be disbursed on the 1st of every month.
    • Manual: Payments will be disbursed manually based on the requirement.

  • Click Save to save the settings to the Payment and Fees card.

    Card Payments

Crypto Payments

The admin must follow the below steps to allow crypto payments on the platform.

  1. Select the Enable Crypto Payments checkbox.
  2. Click Connect with Metamask to link the metamask wallet to the platform wallet.
  3. If required, turn on the Allow only crypto payments for this app toggle key to allow only crypto payments.
  4. If required, turn on the Enable card payments for drops toggle key to allow card payments for drops.

 

If the admin turns on the Enable card payments for drops option, the buyer can make the payment either with a card or crypto currency.

  1. Click Save to save the settings to the Payment and Fees card.

    Crypto Payments

Checkout.com Payments

 

  • The Checkout.com payment is displayed only when the admin turns on the Enable card payments for drops toggle key.
  • Make sure the admin creates an account on Checkout to generate the public key, secret key, processing channel Id, and entity Id.
  • The public and secret keys vary in test and live modes. The admin must provide the appropriate keys based on the mode.

The admin must provide the following information in the Checkout.com Payments section.

  • Public Key: Provide the public key.
  • Secret Key: Provide the secret key.
  • Processing Channel Id: Provide the processing channel Id.
  • Entity Id: If required, provide the entity Id.

  • Click Save to save the settings to the Payment and Fees card.

    Checkout Payment

Platform Transactional Fees

 

The admin must configure card payments before setting platform fees.

It is a transaction fee charged to the seller when the seller uses a platform to sell an NFT. Platform fee is the sum of the transaction cost incurred by Stripe and Xooa for processing each transaction, and the margin set by the marketplace owner. The admin can provide a numerical value in percentage for the following transactions.

  • Initial Sale Platform Fee (in %) of Gross NFT Sale charged to the seller.
  • Secondary Sale Platform Fee (in %) of Gross NFT Sale charged to the seller

Click Save to save the settings to the Payment and Fees card.

Platform Transaction Fees

Primary Sales Recipient

 

The admin must configure card payments before setting the primary sale recipient.

The admin must select a recipient who can receive the revenue generated from the primary sale of the NFT. The admin can select one of the following recipients from the Credit Primary Sales revenue to dropdown list.

  • Platform Account
  • Token Owner

Click Save to save the settings to the Payment and Fees card.

Primary Sale Recipient

Network Fees

It is the fees paid for processing the transaction that are embedded in the blockchain. The admin must select the Enable Network Fees check box if the buyer needs to pay the network fee.

Click Save to save the settings to the Payment and Fees card.

Network Fees

ON THIS PAGE