Finances
Money money money
It’s important for you to have a clear understanding of our financial arrangement - and here it is. We want to make our relationship with you as an online maker as supportive, uncomplicated and transparent as possible... so we are keeping it super simple. Once a maker is approved by our team, creating a storefront and uploading up to 20 products is completely free. Υou only pay when you make a sale. The Meet Market's commission is a flat fee of 15% of your total sale. That's it. No hidden fees or unexpected costs.
Please note that you may upload more than 20 products to your profile, but you can only activate 20 products at one time. Activated products are visible and purchasable by our online shoppers. 'Unactivated' products are saved as product listings and can be activated at any time.
Please also not that our 15% commission is taken from the total price of your sale, including VAT and shipping costs. Our 15% commission also includes 24% VAT.
Everything you need to know about your balance is located in the Wallet section of your maker profile.
Your Wallet is the place to go to have a complete picture of your finances, and in real time. More specifically, as soon as you start accepting orders, you’ll be able to access a chart that will include the financial details of each order separately as well as the total amount you have collected until the present.
Each row of the chart consists of:
Date: When the order was placed
Type: The status of the order upon completion, ie: Ordered or Order Cancelled
Description: Order Code and Customer Name
Sales: The total amount paid by the customer when completing the order
Commission: The amount of TMM commission corresponding to each order set
Payout: The amount due and expected to be deposited into your account
Balance: The net amount in your account, calculated by the sum of each new payment, after deducting the TMM commission and the amount of any cancelled orders (cancelled ordered will be shown in the description)
Finally, above your finance chart, you can see all of your sales and pending payments.
As soon as you mark an order to a customer as dispatched (in the Orders section of your shop profile) and include the tracking number, our system is alerted and you will be paid within 48 hours. If you do not include a tracking number, you will receive your money after 7 days. Your money will be directly deposited into the bank account you have declared in your uploaded company documents or the PayPal account you have connected to your account, depending on whether your customer paid with credit card or PayPal.
To learn more about updating the status of your orders, read here.
TMM is partnering with Everypay which is a licensed payment provider to facilitate card payments and other payments, the disbursement of funds to the makers, fraud analysis, identity verifications, etc. Recognizing the importance of electronic payment security, EveryPay is a licensed Payment Institution by the Bank of Greece (Decision No. 280/3 / 23-7-2018 GG B 3010 / 25-7-2018), and manages securely card payment transactions, in accordance with the regulatory framework of the card transaction security management standard. Everypay is certified in accordance with the PCI DSS compliance standards. All Everypay services are made through secure connections with 256bit SSL certificates. EveryPay also supports the ability to use the 3D Secure service, an additional security token for VISA & MasterCard. The Payer then has to enter his personal secret code to complete the transaction successfully.
With Everypay, we share the makers’ and customers’ personal data that is absolutely necessary for the payments processing. You can learn more about the way Everypay processes your personal data in their privacy policy section by following the link. By using our services and making a transaction through our platform you are accepting and complying with the terms of use and services of Everypay which you can find in the following link.
For more about the terms, conditions and policies of PayPal, check their website.
As a legal business, each order you send out must include a receipt to the customer. Make sure your receipt includes the correct VAT. To learn more about VAT in the EU, check here. Likewise, every time you are paid and we take our 15% commission, we will send you an invoice for the corresponding amount. Our invoice for our commission on each of your orders will be sent to you via email and also be downloadable from the specific order displayed in the Order section of your shop.
Although it is up to you to set your shop's policies, please keep in mind that according to European Law, all customers are entitled to a refund within 14 day of receiving a purchase, for most goods. Therefore, we highly recommend that you accept and facilitate returns to your customers. To read more about EU customer rights and your responsibility as a trader, check out this link. We also recommend that you include a return form with every order, which your customer may or may not use in order to make a return.
If one of your customers requests a refund, The Meet Market platform will return the customer their money and in turn, deduct it from your available balance. In the event that your available funds are insufficient, we will deduct the amount owed from the credit card you have connected in the Payment Settings of your Shop Settings.
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