The GCP constructor is a simple and convenient tool that allows you to customize payments to meet all the needs of your business as much as possible.
All cases are in one solution: you select the API and the fee that are right for you. Thanks to this, it will be possible to accept various payments, keep clear statistics and economize significantly.
There are two types of API that allow you to choose one simple and convenient solution for each case: Transfer and Standard.
The Transfer API allows you to accept incoming payments from customers to your GCP balance and immediately transfer them to the address you specified. This is especially convenient in the case when it is necessary to start using the received funds immediately, or if payments are not frequent.
Transfer API is suitable for:
- Freelancers (to withdraw funds and send them at their own discretion right after the order is completed);
- Businesses that don’t have free turnover (and that need to use payments from customers immediately to maintain the normal operation of the company);
- Intermediaries (for example, marketplaces and companies that work on the forex broker model, so after the selling of a product/service they can pay off the supplier immediately).
The Standard API allows you to accept incoming payments from customers, accumulate them on your balance in GCP and output them in a single request. It should be used when savings are important (up to 50% compared to instant payments) as well as if you intend to make mass payments to addresses, to yourself or to your customers (and you will also save up to 50% compared to an individual withdrawal to each address).
Standard API is suitable for:
- with a constant flow of payments;
- that have a free turnover (without the need to use payments received from customers immediately for the company's needs);
- to which it is more profitable to save up to 50% than to use instant payments and pay more (as in the case of the Transfer API).
— MLM and CASH BACK companies:
- to send mass payments to their clients (which will save up to 50% compared to individual transfers for each client).
Depending on the payment amount, it is more profitable to use one or another type of fee:
- Percent — for small payments (for example, up to $600);
- Fixed — for large payments (over $600).
Payments may vary significantly from each other: in size (the larger the payment, the higher the transfer fee) and in use — funds may be required immediately or they may be kept on the balance sheet (which will save almost 200%).
In case of using most processing you will have to withdraw payments on request and pay a commission as a percentage of the amount. It’s inconvenient while working with large payments, for example, from $1000 (the payment will be too "expensive" to pay the commission as a percentage), or when it is necessary to withdraw payments immediately.
But we, on the contrary, simplify the acceptance of payments and save money — all within one solution for each case (merchant ID): your withdrawal type (API) and your fee (percent/fixed).
We have a marketplace with a wide range (for example, of eBay and Amazon format), which has:
- A line of products worth from $1 to $10,000;
- A constant flow of payments (averaging $100,000 per day);
- Different periods of payments to suppliers (immediately after the payment of the goods/on the same day/in a few days).
Let's add a line of marketplace's own products line to it (like Kindle books, Amazon Fire tablets, Fire TV), for the selling of which the business doesn’t have to report to the supplier and may safely keep funds on its balance sheet.
Let's "assemble" the optimal template for accepting payments:
- For small payments (for example, up to $600) it is more profitable for merchants to pay a commission as a percentage;
- For large payments (over $600) it is more profitable for merchants to pay a fixed commission.
Savings: by using a fixed fee when accepting large payments we saved $180 per day or $5,400 per month.
2. API for payments:
- Instant (to suppliers or to meet your needs) — Transfer API;
- Deferred (on the same day or in a few days) — Standard API.
Savings: the Standard API is almost twice cheaper than the Transfer API. We accumulate and withdraw payments to be paid within one request:
- On the same day;
- In a few days;
- The funds received after the sale of its own product line — when we want.
3. Mass withdrawal:
- To the addresses of suppliers with deferred payment (on the same day or in a few days).
Savings: up to 50% of the Standard API (compared to an individual output to each address). So, due to the mass withdrawal of at least 50% of customers (suppliers), the savings will be $90 per day or $2,700 per month.
In total, if the marketplace has 30% of large payments as well as at least 50% of suppliers make mass withdrawals, the overall benefit will be $8,100 per month.
And all of this is just because of the flexible payment settings!
In addition, our fees already include the network commission which means you do not have to pay it extra. For example, when paying $400-500, you will pay less (by the amount of the network commission, now it is about $0.7) than in other processings.
If you have a large flow of payments with instant withdrawal (Transfer API, for example, several dozens per hour), you may use mass withdrawal by connecting payments to the Standard API. Thus, one mass withdrawal will be made to the address of a particular supplier, though with a difference of a few minutes from the needed transfer date. And you will get an additional benefit of up to 50%.