Hello,
Another payment processor provides the ability to create a platform account. Is this also possible in Square?
For example, we own a SaaS based software company. When my clients gets a reservation, we would receive a 2% service fee. So, if the customer is charged $100 for a booking. $2 comes to us, then rest goes to the client (minus any square fees). So, the customer sees a single charge but the funds goes to 2 accounts - our account (2%) and client’s account (rest).
Something like the attached image.
Is this possible in Square?
Thanks
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Based on the information you’ve provided, the following documentation will help answer your question:
Additional Documentation
Payment API: Process Online and In-Person Payments
Collect Application Fees
Onboard to Square Appointments
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Yes, this is possible with Square. You can create an application integrated with Square to process payments on behalf of sellers that sign up to use the application. You can collect a portion of each payment that your application processes as an application fee. This application fee is accrued in your Square account for each payment that Square processes through your application when using the Payments API.
When you collect a fee from each payment that Square processes through your application, Square ensures that the seller retains some portion of the payment’s total_money after subtracting the Square processing fees and the application fee.
For more information about taking application fees, you can refer to the “Collect Application Fees” section in the Square developer documentation.
This answer was reviewed by @Bryan-Square.
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