Shopizona merchant payments come into the seller bank account registered with the online portal through NEFT or UPI.
Shopizona makes payments separately from both these accounts. The payment is credited to your bank account only if there is a positive balance in these two accounts. It may not be out of place to mention that the balance may be negative as well due to returns, etc.
The settlement amount is the Total Order Item value minus Shopizona Marketplace Fee.
The marketplace fee includes elements such as Shopizona selling commission, collection fee, fixed fee, shipping fee, and taxes.
All payments are made through NEFT or UPI transactions (online banking). The payment is made directly to your bank account within the next 7-15 business days from the date of order dispatch.
The following deductions are made from the order item value:
Commission fee: A percentage of the order item value vary based on vertical/sub-category
Shipping fee (calculated on the basis of the product weight, shipping location and )
Collection fee: This will vary based on order item value and customer payment mode (Prepaid/Cash on Delivery)
Commission fee is a certain percentage of the order item value of your product. It differs across categories and vertical/sub-categories.
As a Shopizona Merchant, you will set the price of your products.