Omnyfy is integrated with Stripe via the “Separate Charges and Transfers” architecture which allows significant control over receipt and disbursement of funds to the vendors on your marketplace.
The integration with Stripe offers a completely seamless workflow that takes care of every aspect of Vendor Management, Onboarding and Fund Flow in one single solution.
1) KYC Management
With Stripe, all of the compliance requirements regarding KYC (Know Your Customer) is handled through Stripe, so you can be sure that your business is transacting and paying funds to known and confirmed persons or entities.
2) Customer Pay-In
Customer Pay-In refers to the ability for the marketplace to accept payments from customers. With Omnyfy’s integration your marketplace can accept every payment type supported by Stripe across 40 countries and 135+ currencies.
3) Pay out to Vendors
The Omnyfy Stripe integration allows your marketplace to seamlessly payout vendors for orders placed on the marketplace after deducting any commissions due to your marketplace (Net Payment). The Net Payment can be paid to vendors directly from Omnyfy without having to log-in to Stripe.