Payment Processing and Making Profit with Printrove
If you are planning to start a dropshipping business with Printrove but still wondering how would you make a profit, then you've come to the right place!
By the end of this article, you will learn how Printrove processes payments for fulfillment and how you would make a profit out of dropshipping.
How Does Printrove Charge You?
If you have an online store that is connected with Printrove and your customer orders from your store, the flow would go like this:
1. Your Customer Pays You
The first transaction happens between you and your customer when they place an order on your online store and pay you during the checkout.
How to accept payments from your customer?
To accept payments from your customers, you'll need to set up a payment gateway on your store. A payment gateway is a technology used to accept payments from your customers and then transfer the amount to your Bank Account.
Depending on your platform, it is always better to choose a payment gateway that your target audience is comfortable using. We recommend choosing one of the following payment gateways for your store:
2) You Pay Printrove
The second transaction happens between You and Printrove when Printrove pulls your store order and charges you for fulfillment and shipping through Printrove Credits.
What are Printrove Credits?
In Printrove, all payments are debited and credited through the system of credits. You can think of One Printrove Credit to be equal to One Rupee.
One can easily recharge their Printrove account and start placing orders until the credits are exhausted.
Important Note:
If you have insufficient credits in your Printrove Account, the orders would not be processed until the recharge.
3) You Make a Profit!
You can set your own Retail Price for every product in advance and the difference between what the customer pays you and what you pay to Printrove becomes your Profit.
How would you make a profit? - A practical scenario
Let's say that a customer places an order in your store and the Retail Price is Rs.549 including shipping.
1. The customer pays you Rs.549 using your store's payment gateway which is then transferred to your Bank account.
2. Printrove detects that it would charge you Rs.300 to fulfill and ship that order and would deduct the required credits from your Printrove Account.
3. The difference between Rs.549 - Rs.300, that is Rs.249 will be your profit. Hooray!
Your store order will be then placed and the rest will be taken care of by us.
When the mode of payment is Cash On Delivery:
If your customer opts for the COD mode of payment, the retail price of your order will be transferred to your Printrove Account in the form of credits after the order gets delivered.
You can even request the COD Remittance to be transferred to your Bank Account. You can learn more about Cash on Delivery Remittance here.
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