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Payment Processing with PayPal via Novalnet
It is possible to have the PayPal payment method processed with Novalnet. This has the following advantage:
Both the marketplace operator and the merchants have all transactions and payments completely listed in their Novalnet backends. In the Novalnet backends, it is possible to export them in different data formats for further processing in accounting.
Note: In order for payment processing to work, each merchant selling on the marketplace must have their own PayPal business account. For such a business account, the merchant can request the PayPal API data (which consists of an API username, an API password and a signature) after logging into their PayPal account. This data must then be entered in the Novalnet contract portal.
The following points should be noted here:
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When a customer places an order on the marketplace and pays via PayPal, the money is transferred to the account of the merchant with deduction of PayPal fees.
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Novalnet tracks the external direct payment between the merchant and PayPal and lists the payment in the Novalnet merchant backend.
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A cost nota for the commission to be paid to the marketplace operator is created and booked accordingly as a payable amount/cost nota in the Novalnet merchant backend.
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At the same time, the determined commission amount is credited to the account of the marketplace operator including the merchant data for payment.
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The resulting negative balance on the merchant's account will be retained or deducted from the payout amount after receipt of the next positive payments. As a result, the merchant account with Novalnet will be balanced again accordingly.
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For these services, Novalnet charges the merchant the discount and transaction fees.